IDX tightens screening, flags 383 stocks for concentrated ownership

Résumé détaillé

The Indonesia Stock Exchange (IDX) has tightened its screening mechanism to identify stocks with high shareholding concentration (HSC) in its latest push to improve market transparency, raising the number of stocks classified under the category to 383.

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The Indonesia Stock Exchange (IDX) has tightened its screening mechanism to identify stocks with high shareholding concentration (HSC) in its latest push to improve market transparency, raising the number of stocks classified under the category to 383.

he Indonesia Stock Exchange (IDX) has tightened its screening mechanism to identify stocks with high shareholding concentration (HSC) in its latest push to improve market transparency, sharply raising the number of stocks classified under the category to 383.

That marks an increase from the initial 83 listed firms identified earlier this month, when the IDX rolled out the measure to exclude HSC stocks from its benchmark Composite index.

The expanded list follows an overhaul of the IDX’s screening mechanism, which previously limited screening to listed firms with a market capitalization above Rp 5 trillion (US$276.8 million).

“HSC screening is now conducted across the entire market, covering all listed shares,” IDX president director Jeffrey Hendrik announced on Tuesday, as quoted by CNBC Indonesia.

The additional HSC stocks, accounting for 6.16 percent of the total IDX Composite’s weighting, would be excluded from the index Jeffrey said.

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The exchange also announced that it had scrapped the price impact ratio (PIR) metric for identifying HSC stocks. PIR measures how much a stock’s price changes relative to its trading activity.

Début de l'article, extrait de The Jakarta Post. Pour lire la suite, ouvrez l'article chez le média.