MSCI Pressure Mounts on Billionaire-Held Indonesia Shares

Indonesia’s stock market needed just two days of chaos to highlight what investors have long lamented: parts of the market aren’t trading freely.

Last week’s worst tumble in nearly three decades drew attention to a major problem at the heart of Southeast Asia’s biggest equity market: a handful of billionaires own so much of their listed companies that barely any of those companies’ shares are left to trade.