Goldman Sachs analysts say Indonesia is likely to retain its MSCI emerging-market status as market reforms progress, though updated equity-disclosure data could still trigger further index weight cuts and stock deletions. MSCI has kept Indonesia's EM status unchanged and delayed a final decision until November. Analysts say index-adjustment uncertainty and a challenging economy may weigh on investor sentiment; higher rates support the rupiah, but weak domestic demand, slowing credit growth and c

Goldman Sachs analysts say Indonesia is likely to retain its MSCI emerging-market status as market reforms progress, though updated equity-disclosure data could still trigger further index weight cuts and stock deletions. MSCI has kept Indonesia's EM status unchanged and delayed a final decision until November. Analysts say index-adjustment uncertainty and a challenging economy may weigh on investor sentiment; higher rates support the rupiah, but weak domestic demand, slowing credit growth and cooling retail sales are downside risks. Goldman Sachs maintains an underweight rating on Indonesian equities.