(Bloomberg) -- Indonesia will remove stocks with concentrated ownership from its benchmark equities index, the latest effort to avert a possible downgrade of its market status by MSCI Inc. Jeffrey Hendrik, chief executive of the Indonesia Stock Exchange, said after a meeting with MSCI representatives Monday that the move was aimed at creating a “more credible and integrity-driven price index.” Stocks with high shareholder concentration currently account for about 18% of the Jakarta Composite Index’s total weighting, he said, adding that Hong Kong’s benchmark Hang Seng Index also excludes such stocks.