MSCI says Indonesia's Barito Pacific will be removed from its indexes

Global index provider ​MSCI will remove ​one Indonesian ‌company from its ​indexes, it said on Monday, dealing a blow to ‌the country's efforts toavoid a downgrade and retain its emerging-market status. The latest setback comes a month after MSCI ‌warned Indonesian stocks could be removed from its ‌indexes next year and the market relegated to "standalone" status, a much harsher fate than the one the index ⁠provider ​first threatened ⁠in January.

The deletions will force funds that track its indexes ⁠to sell the shares, and take effect after the ​close of trading on November 30. Barito Pacific will ⁠be removed from MSCI's global standard index, while Bumi Resources ⁠Minerals ​will be moved from that index to the small cap index.

MSCI Indonesia index currently ⁠has nine firms after the index provider culled six ⁠companies ⁠in May and two more in August.