MSCI Proposed Reclassifying Indonesia from Emerging Market to Standalone Market

MSCI Proposed Reclassifying Indonesia from Emerging Market to Standalone Market 
MSCI launched a consultation to reclassify Indonesia from Emerging Market to Standalone Market status, citing persistent concerns over opaque shareholding structures, suspected coordinated trading activities, and insufficient regulatory enforcement despite recent market reforms. MSCI indicated that a downgrade to Frontier Market status would not adequately reflect the severity of these concerns and expects to proceed with the proposed reclassification unless material improvements are demonstrated. The existing freeze on index additions, increases in Foreign Inclusion Factors (FIF), and upward size-segment migrations will remain in place until further notice. Market participants may submit feedback until 30 Apr-27, with a final decision expected by 30 Jun-27. (MSCI) 

US Retail Sales Rose 0.8% MoM in September 2026, Above Expectations 
US retail sales increased 0.8% MoM in Sep-26, following an upwardly revised 1.3% rise in Aug-26 and exceeding market expectations of 0.3%. Growth was driven by gasoline station sales, which rose 6.4% amid higher prices, while sales excluding gasoline increased only 0.2%. Other gains were recorded at furniture stores (+1.3%), food services and drinking places (+1.1%), and health and personal care stores (+0.7%). Meanwhile, sales at miscellaneous store retailers fell 3.0%, while building materials and garden equipment declined 0.6%. The core retail sales measure used in GDP calculations increased 0.1% MoM, slowing from 1.2% in Aug-26. (Trading Economics)

Alamtri Minerals Indonesia (ADMR) Issued IDR 2.0 tn Bonds Through Maruwai Coal 
ADMR’s 99.99%-indirectly owned subsidiary, Maruwai Coal, issued IDR 2.0 tn of bonds listed on the Indonesia Stock Exchange on 12 Oct-26. The issuance comprised Series A worth IDR 1.21 tn with an 8.0% coupon and a 370-day tenor, and Series B worth IDR 780.2 bn with an 8.75% coupon and a three-year tenor. Approximately 92% of the proceeds will be allocated to capital expenditure, including 81% for the construction of Coal Handling and Processing Plant (CHPP) 2 in Murung Raya, Central Kalimantan, while the remainder will fund working capital. The bonds received an idAA rating from Pefindo. The issuance will increase consolidated financial liabilities but is not expected to materially affect business continuity. (Emitennews) 

Folago Global Nusantara (IRSX) Announced Dimash Qudaibergen’s First Solo Concert in Indonesia 
IRSX, through its subsidiary FolagoPro, announced that Kazakhstan singer Dimash Qudaibergen will hold his first solo concert in Indonesia under the DIMENSIONS World Tour on 12 Dec-26 at Sentul International Convention Center (SICC), Bogor. The concert marks Folago’s expansion in the live entertainment industry and is expected to strengthen cultural ties between Indonesia and Kazakhstan. The announcement was made at a press conference in Jakarta on 14 Oct-26, attended by diplomatic representatives from both countries and Indonesia’s Ministry of Creative Economy. (Emitennews)