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MSCI will suspend partial index adjustments for Indonesian companies until the country's regulatory agency resolves concerns about the high concentration of equity in listed companies. This move has dealt another blow to the largest market in Southeast Asia. The agency stated in a statement that due to the ongoing "fundamental investability issues" in the Indonesian market and concerns about regulatory coordination in manipulating stock prices, it will immediately suspend the addition of all Indonesian companies to relevant indices and freeze adjustments to the number of outstanding shares. If Indonesia does not make sufficient progress in transparency by May, MSCI will reevaluate the country's market accessibility level this could result in a downgrade of the weight of all Indonesian companies in the MSCI Emerging Markets Index or even a downgrade to the Frontier Markets category.