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View all search resultsIDX falls as MSCI review drops major Indonesian stocks
The benchmark index dropped 1.3 percent to 6,763.94 when the market opened on Wednesday. It has declined by more than 20 percent since the beginning of the year.
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An electronic display board inside the main hall of the Indonesia Stock Exchange (IDX) in South Jakarta shows an overall downward movement across most stocks during the lunch break on Jan. 29, 2026, when the IDX Composite index fell 6.3 percent after global investment firm MSCI raised concerns about free float and trading transparency. (TJP/Deni Ghifari)
T
he Indonesia Stock Exchange (IDX) Composite index slid at market open after global index compiler MSCI axed major Indonesian stocks from its indexes in the latest rebalancing review.
The benchmark index dropped 1.3 percent to 6,763.94 when the market opened on Wednesday. It has declined by more than 20 percent since the beginning of the year.
MSCI announced the review on Tuesday evening, with changes in constituents for its Global Standard Indexes set to take place after the stock market closes on May 29, and become effective on June 1.
In its latest review, MSCI added no Indonesian stocks but removed PT Barito Renewables Energy, PT Chandra Asri Pacific and PT Petrindo Jaya Kreasi, all of which are affiliated with local conglomerate Barito Pacific, as well as PT Amman Mineral International and Sinar Mas Group’s mining firm PT Dian Swastika Sentosa.
MSCI also downgraded consumer goods retailer PT Sumber Alfaria Trijaya from its global standard index to its small-cap index and removed 13 Indonesian stocks from its small-cap benchmark altogether.
Read also: MSCI extends final call on RI equities to June review
MSCI has frozen several Indonesian stock indices following the firm’s January warning, which has triggered one of the country’s major stock market routs followed by high-profile resignations at the Financial Services Authority (OJK) and the IDX.
