消息面上，据媒体报道，彭博社报道，MSCI在最新公告中表示，在印尼监管机构解决上市公司股权过于集中的问题之前，将暂停印尼相关指数调整。 MSCI表示，将立即停止新增指数成份股，并冻结增加可供投资者购买的股票数量，理由是持续存在"基本投资可行性问题"，以及投资者对潜在蓄意操纵 价格感到担忧。 报道称，如果印尼在今年5月份之前未能取得足够的透明度改进，MSCI将重新评估该国的市场可投资状况，此举可能导致所有印尼公司在MSCI新兴市场 指数中的权重降低，甚至有可能被降级为前沿市场（frontier-market）。 每经编辑|毕陆名 1月28日，印尼股指大幅跳水，印尼综合指数暴跌8%，一度触发暂停交易30分钟。其中，印尼国有银行、与大型企业集团有关联的公司的权重股都遭遇巨 大的抛售压力。 | < w | | 印尼综指(JKSE) | | Q | | --- | --- | --- | --- | --- | | | | 01-28 13:43:13 | | | | 8261.79 | 昨收 | 8980.23 | 成交额 | 0 | | -718.44 -8.00% | 今开 | 8368.82 | 成交量 | 0 ...

印尼股市突然遭遇"黑天鹅"。 上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限量发放！先到先得！ MSCI表示，将立即停止新增指数成份股，并冻结增加可供投资者购买的股票数量，理由是持续存在"基本投 资可行性问题"，以及投资者对潜在蓄意操纵价格感到担忧。 报道称，如果印尼在今年5月份之前未能取得足够的透明度改进，MSCI将重新评估该国的市场可投资状况， 此举可能导致所有印尼公司在MSCI新兴市场指数中的权重降低，甚至有可能被降级为前沿市场（frontier- market）。 对此，印尼证券交易所表示，印尼金融服务管理局、印尼证交所与印尼中央证券存管机构将继续与MSCI展开 磋商。 当地时间1月28日，印尼股市全线重挫，印尼综合指数（JKSE）暴跌8%，创逾9个月来单日最大跌幅，并触 发暂停交易30分钟。 此次抛售潮源于明晟公司（MSCI）发出的一条措辞严厉的警告，该警告引发了外资对 印尼股票投资价值的新一轮质疑。MSCI表示，鉴于市场对印尼股票自由流通股数量和整体市场准入的持续担 忧，将暂时冻结印尼股票的指数编制。 彭博社数据显示，印尼综合指数中有超过200只成份股的自由流通股比例低于 ...

印尼股市突然遭遇"黑天鹅"。智通财经APP获悉，在指数编制公司MSCI对印尼股市投资可行性提出担忧、并警告所有印尼公司在MSCI新兴市场指数 中的权重可能被降级至前沿市场地位后，印尼股市暴跌并触发交易暂停。截至发稿，印尼雅加达综合指数跌8.67%，创九个多月以来的最大单日跌 幅，导致交易暂停30分钟。跌幅最大的股票包括市场普遍预期将在MSCI下月评估中纳入其指数的几家公司，例如PT Bumi Resources、PT Petrosea和 PT Pantai Indah Kapuk Dua，这些股票均下跌约15%。 印尼监管机构已试图通过计划将最低流通股比例从目前的7.5%提高到10%-15%来缓解担忧，长期目标则是25%，但尚未设定时间表。 这种脱节最明显地体现在印尼雅加达综合指数与MSCI印尼指数之间不断扩大的差距上，前者在去年的表现优于后者的幅度创下纪录。在周三暴跌之 前，印尼股市在今年初期的表现落后于其东南亚同行，当地股指上涨了2.7%，而MSCI东盟指数则飙升了5.3%。 富兰克林邓普顿全球投资的投资组合经理Yiping Liao表示，如果印尼公司被降级，对被动资金流的影响将是巨大的，"由于对宏观经济 ...

Core Viewpoint - The Indonesian stock market experienced a significant drop of 8%, leading to a trading halt, due to MSCI's concerns over transparency in ownership structure and free float data, which may result in a downgrade of Indonesia's market rating [1][4]. Group 1: MSCI's Actions and Statements - MSCI indicated that it would reassess the investability of the Indonesian stock market by May if transparency does not improve, potentially reducing Indonesia's weight in the MSCI Emerging Markets Index or downgrading it to frontier market status [1][5]. - MSCI has decided to immediately stop any new additions to its index for Indonesia and freeze the upward valuation of stocks available to international investors to mitigate index turnover and investability risks [6]. Group 2: Market Reactions and Implications - The Jakarta Composite Index (JKSE) fell by 7.9%, marking its lowest point since early November, with a notable decline of approximately 7% before noon on the same day [2][7]. - Concerns about potential coordinated trading behavior disrupting normal price formation were expressed by MSCI, indicating a broader apprehension among investors [5]. Group 3: Broader Market Context - Foreign investors have been selling off Indonesian assets, with a reported outflow of 13.96 trillion Indonesian Rupiah (approximately 834 million USD) in 2025, marking the most significant outflow since 2020 [7]. - Despite the outflows and concerns over currency weakness and fiscal deficits, Indonesia's benchmark stock index rose over 20% in 2025, becoming one of the best-performing markets in the region [7].

中国基金报记者 泰勒 大家好，先关注一下印尼股市的消息，刚刚崩盘了。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源：中国基金报 1月28日，印尼股市崩盘，主要股指跌暴跌8%，触发了熔断机制。 【导读】印尼股市崩盘了 消息面上，指数编制公司MSCI在对印尼证券自由流通股的评估中发现了"根本性的可投资性问题"。 印尼交易所运营方表示，将与MSCI及本地监管机构就数据透明度继续磋商，以达成共识。该机构补充 称，交易所已采取措施提升透明度，例如在交易所网站公布自由流通股（free float）数据。 新加坡Maybank Securities的主经纪业务交易主管Tareck Horchani表示："MSCI的冻结措施只是发出警 告，并非最终判决，市场已经开始为负面结果计入一定概率，这也解释了我们在那些指数权重较高的印 尼股票上看到的压力。" 截至1月23日当周，全球投资者净卖出1.92亿美元的印尼本地股票，结束了此前连续16周的净流入；而 本周迄今他们仍为净卖出。 这一决定也与MSCI先前提出的计划有关：收紧对"自由流通股"的定义——即可供交易的股份数量，也 是决定股票在基准指数中权 ...

Core Viewpoint - MSCI is seeking feedback on the potential reclassification of Greece from emerging market status to developed market status, aiming for implementation during the August index review [1] Group 1 - MSCI states that recent feedback from international institutional investors supports the decision to exempt Greece from size and liquidity sustainability rules [1] - Investors view the EU as a highly integrated economic and financial group, making the differential treatment of Greece's market classification appear inconsistent [1]

Group 1 - The core viewpoint is that the restructuring of investment risks and opportunities has become a global phenomenon, with investors reassessing these factors more urgently than ever before [1] - The rapid development of generative artificial intelligence (AI) is redefining the essence of finance and investment, with Asia-Pacific companies investing a higher percentage of their annual revenue in digital technology and generative AI compared to their North American and European counterparts [1] - Generative AI and other advanced technologies are expanding investment areas that previously attracted only a few investors, such as the private equity market, with MSCI predicting that by 2030, approximately one-sixth of global investable funds will flow into private equity [1] - Private equity assets are becoming mainstream, with a significant increase in allocation plans among wealth management institutions in the Asia-Pacific region, where 55% plan to increase private equity asset allocation in the coming years [1] Group 2 - Globalization is being rebooted rather than reversed, which holds extraordinary significance for the Asia-Pacific region [2] - According to McKinsey Global Institute data, 18 out of the 20 fastest-growing trade corridors globally are located in Asia, and 13 out of the 20 largest trade corridors are also situated there [2] - The current trend is not de-globalization but re-globalization, with trade volumes continuing to rise while trade patterns are being restructured, influenced by geopolitical competition and the reorganization of global supply chains [2]

格隆汇1月26日｜由于明晟公司（MSCI）即将调整其指数编制方法，市场风险偏好降温，导致印尼股市 上周录得自去年10月以来的首次资金外流。根据机构汇编的数据，海外投资者上周抛售了价值1.92亿美 元的本地股票，这是16周以来首次出现资金外流。此次撤资发生在印尼基准股指于1月20日创下历史新 高之后。"上周外资的抛售，部分是出于在明晟宣布自由流通股相关决定前的减持，部分是获利了 结，"Aletheia Capital分析师尼尔古南·蒂鲁切尔瓦姆表示，"甚至一些本地资金也已撤出。"高盛集团策 略师阿尔文·苏等人在周五的一份报告中写道，明晟对印尼自由流通股的重新计算，可能导致被动型基 金在未来几个月从印尼股市撤出约23亿美元资金。 ...

Core Insights - MSCI is expected to report quarterly earnings of $4.61 per share, reflecting a 10.3% increase year-over-year, with revenues projected at $821.98 million, a 10.6% increase from the previous year [1] Earnings Projections - The consensus EPS estimate has been revised upward by 0.4% in the last 30 days, indicating analysts' reassessment of their initial estimates [2] - Changes in earnings projections are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [3] Revenue Estimates - Analysts project 'Operating Revenues- Sustainability and Climate' to be $92.36 million, an 8.4% increase from the prior year [5] - 'Operating Revenues- Asset-based fees - Total' is expected to reach $209.75 million, indicating a 19.6% year-over-year change [5] - 'Operating Revenues- Analytics' is estimated at $185.31 million, reflecting a 7.3% increase [6] - 'Operating Revenues- All Other - Private Assets' is projected at $71.68 million, a 9.7% increase from the previous year [6] Run Rate Estimates - The estimated 'Index Run Rate - Recurring subscriptions' is $1.02 billion, up from $934.25 million in the same quarter last year [7] - 'All Other - Private Assets Run Rate' is forecasted to reach $288.40 million, compared to $266.72 million in the same quarter last year [7] - The 'Sustainability and Climate Run Rate' is expected to be $376.43 million, up from $343.74 million in the same quarter last year [8] - The 'Total Run Rate - Total recurring subscriptions' is projected at $2.44 billion, compared to $2.24 billion a year ago [9] Retention Rates - Analysts predict the 'Analytics Retention Rate' will be 93.9%, up from 93.3% year-over-year [6] - The 'Index Retention Rate' is expected to reach 95.4%, compared to 95.0% in the same quarter last year [8] - The 'Sustainability and Climate Retention Rate' is projected at 93.7%, an increase from 93.1% year-over-year [9] - The consensus estimate for 'All Other - Private Assets Retention Rate' stands at 88.1%, compared to 86.4% in the previous year [9] Market Performance - Over the past month, MSCI shares have returned +1.6%, outperforming the Zacks S&P 500 composite's +0.6% change [10]

Core Insights - The iShares MSCI Europe Financials ETF (EUFN) provides exposure to developed European financials by tracking the MSCI Europe Financials Index, which includes constituents classified in GICS Financials [1] - The MSCI Europe Index targets approximately 85% of free-float market capitalization in developed European markets, focusing on large- and mid-cap segments [1] - The index employs a methodology that includes free-float adjustments, foreign ownership limits, and minimum liquidity requirements, with no caps on issuers, countries, or industries [1] Index Construction Methodology - The MSCI Europe Financials Index is constructed using a free-float market-cap-weighted approach, ensuring that weights reflect the market value within the financial sector [1] - Regular reviews of the index occur quarterly in February and August, and semi-annually in May and November, during which size/liquidity buffers and GICS classifications are reassessed [1] - Additions and deletions to the index are implemented in a single pass during these review cycles [1]