The Indonesia Stock Exchange (BEI) is targeting an announcement within 45 days of its 8 November notice on three stocks flagged for concentrated trading. Jeffrey Hendrik, Direktur Utama BEI, said the investigation is still running and that the details cannot yet be given to the public.
Under that deadline, the exchange is expected to publish the results of its examination on 8 January 2027. The countdown began with the November announcement, which set the timetable for the three stocks.
Scope of the examination and trading concentration
BEI has left open the possibility of adding more stocks to the review as part of its regular monitoring of the market. The exchange said it will announce any new case once it detects initial signs.
The examination of NSSS shares covers 1 December 2025 to 30 October 2026. It points to 19 investors trading through 15 broker members, whose activity made up about 52% of total NSSS transactions, Katadata reported.
For FUJI, the review spans 2 March to 30 October 2026 and involves 16 investors using 10 broker members. Their trades accounted for roughly 87% of all FUJI transactions.
CASA shows the tightest pattern of the three. Between 26 October and 2 November 2026, six investors traded through six broker members and generated about 98% of total CASA transactions.
Supervisory aims and the disclosure request
BEI stressed that the checks are meant to keep share trading orderly, fair and efficient, Kontan reported.
Jeffrey Hendrik said the exchange's supervision team will keep monitoring trading activity and will announce any early indications it finds.
Endra Febri Styawan, Pjs Kepala Divisi Pengawasan Transaksi BEI, said the exchange has asked related parties to pay close attention to the information disclosed by listed companies.
Monitoring does not stop at the three stocks now under examination. The supervision team tracks trading activity on an ongoing basis, and any signal that emerges from that watch will be made public rather than kept internal.
Who is affected
The review matters most for retail investors, the group this monitoring is designed to protect. Endra Febri Styawan said the checks are part of BEI's supervision of securities trading and of the exchange's investor protection effort.
What is still unclear
The findings themselves remain unknown. BEI has said the details of the three cases cannot be disclosed while the investigation runs, so neither the conclusions nor any sanctions have been made public.
It is also unclear which other stocks or issuers might join the review. BEI has said only that the list could grow as regular monitoring continues, without naming candidates or setting a threshold for inclusion.
How CASA, FUJI and NSSS shares trade after 8 January 2027 is a further open question. The expected announcement date gives the market a fixed reference point, but the effect on price and liquidity will only show once the results are out.