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View all search resultsMSCI drops battered GoTo from stock indexes
MSCI’s move to remove and downgrade Indonesian stocks from its indexes may trigger outflows of Rp 500 billion to Rp 1 trillion, mainly affecting stocks directly impacted by the rebalancing.
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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, 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)
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ndonesian ride-hailing and technology company PT GoTo Gojek Tokopedia will be removed from the MSCI Indonesia Investable Market Index, according to the global index provider’s latest review released on Thursday.
MSCI announced the changes as part of its August 2026 Index Review, which will take effect after the close of trading on Aug. 31, with the revised composition effective from Sept. 1.
“This treatment applies due to potential index replicability issues related to its very low liquidity resulting from trading at the minimum tradable price of Rp 50 on the Indonesia Stock Exchange (IDX) since the close of May 13, 2026,” the review stated.
Shares of poultry producer PT Charoen Pokphand Indonesia would also be downgraded from the MSCI Global Standard Index to the MSCI Global Small Cap Index.
On top of that, nine Indonesian stocks would be removed from the MSCI Global Small Cap Index, which are Bank Jago, Bukalapak, Surya Esa Perkasa, MD Entertainment, Medikaloka Hermina, MNC Tourism Indonesia, Raharja Energi Cepu, Semen Indonesia and Transcoal Pacific.
The changes come as Indonesian equities remain under scrutiny from the global index provider since the beginning of the year, when MSCI raised concerns over market accessibility and transparency.
The IDX Composite fell 1.13 percent on Thursday to 6,301.76, while major Asian stock markets rose, with Japan’s Nikkei 225 gaining 1.16 percent and South Korea’s KOSPI rising 3.56 percent. The local benchmark has dropped 27.12 percent since the beginning of the year, particularly following MSCI’s warning.
