SINGAPORE, June 24 (Reuters) - Indonesian stocks rose

slightly on Wednesday after index provider MSCI pushed its

review on the country's emerging markets status to November to

assess the slate of reform measures rolled out by Jakarta.

Indonesia's benchmark index gained 0.34% in early

trading on Wednesday. The index is down 29% so far this year,

making it the world's worst-performing major stock market.

Indonesian assets have been hammered since January, when

MSCI froze the country's stocks in its indexes and raised the

prospect of a downgrade to frontier status, leading to a flurry

of reforms, including moves to raise free-float levels.

The index provider late on Tuesday called those measures a

"step in the right direction", but warned it would consider

options such as a consultation on a downgrade to frontier status

if sufficient progress was not evident by its November review.

Gary Tan, portfolio manager at Allspring Global Investments,

said the outcome was in line with market expectations, with the

tone of MSCI's statement more cautionary than outright negative.

"What stood out is the clear shift toward implementation and

measurable outcomes, signalling that announced reforms alone are

not sufficient," Tan said.

"The extension of the review to November keeps pressure on

regulators and effectively kicks the decision down the road."

Indonesia's financial regulator said on Wednesday the MSCI

announcement would serve as momentum to strengthen and

accelerate the capital market reform agendas initiated since

January.

MSCI in April had extended its review of Indonesian markets

to June, and in May cut several companies - most of which were

tied to tycoons - from its indexes.