MSCI extends its review of Indonesia’s equity market status to November, citing ongoing concerns about market transparency and investability. Multiple reports say MSCI previously warned that Indonesia could be downgraded from emerging-market status to “frontier market” status due to transparency gaps in its stock market. Ahead of an earlier decision timeline, MSCI postpones the review again, stating it needs more time to assess whether recently announced transparency reforms are effective. Bloomberg reports the delay, indicating MSCI is monitoring changes rather than making an immediate decision. The Financial Times and The Diplomat also highlight that MSCI flags transparency and investability concerns, framing the possible downgrade as tied to whether investors can reliably access and trade in Indonesian markets under the standards MSCI applies. Free Malaysia Today notes the issue also resurfaced in a late review update, which continues to raise questions about investability. Overall, the sources agree MSCI’s next step is a decision later in November, with the outcome dependent on how MSCI evaluates Indonesia’s reforms and whether they address the transparency and trading-related issues identified by the index provider.