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 Wednesday, dealing a blow to the country's efforts to avoid 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.