Breaking News! JCI Opens with 1.4% Plunge
Jakarta, CNBC Indonesia — The Composite Stock Price Index (JCI) slumped following the announcement of the MSCI index rebalancing results on Wednesday (13/5/2026).
The JCI fell 101.53 points or 1.48% to 6,757.37. A total of 261 stocks declined, 139 rose, and 559 remained stagnant. Trading value reached Rp419.7 billion with a volume of 696.6 million shares in 60,980 transactions.
Meanwhile, most Asian markets also opened in the red. South Korea’s Kospi index tumbled more than 2%, while Japan’s Nikkei and Australia’s ASX weakened amid investor concerns over US inflation and Middle East geopolitical tensions.
Today marks the last trading day of the week before the long holiday for the Ascension of Jesus Christ. Market participants need to monitor several sentiments that will drive the market today, both domestic and external.
As previously reported, global index provider MSCI officially announced the results of its semi-annual index review for May 2026. All changes to the index composition will take effect after the close of trading on 29 May 2026 and will be reflected in trading from 1 June 2026.
MSCI rebalancing always garners significant attention from market players as it has the potential to trigger substantial changes in foreign fund flows. This is because many global investment managers, including index mutual funds and exchange-traded funds (ETFs), use the MSCI index as a benchmark for constructing portfolios.
Consequently, stocks added to the index could receive additional capital inflows, while those removed tend to face short-term selling pressure due to passive investors’ portfolio adjustments.
Six Major Indonesian Big Cap Stocks Removed from MSCI Standard
In this evaluation, not a single Indonesian stock managed to enter the MSCI Global Standard Index. Instead, MSCI removed six large-cap issuers from the main index.
The six stocks officially removed are:
PT Amman Mineral Internasional Tbk (AMMN)
PT Barito Renewables Energy Tbk (BREN)
PT Chandra Asri Pacific Tbk (TPIA)
PT Dian Swastatika Sentosa Tbk (DSSA)
PT Petrindo Jaya Kreasi Tbk (CUAN)
PT Sumber Alfaria Trijaya Tbk (AMRT)
The removal of these stocks signals MSCI’s strict evaluation of factors such as free float market capitalisation, liquidity, and the sustainability of company size according to global index methodology.
AMRT Downgraded, Small Cap Also Overhauled Significantly
In the MSCI Global Small Cap Index Indonesia category, MSCI only added one stock, namely AMRT. This means the Alfamart minimarket network operator’s stock is not entirely out of the MSCI index but has been downgraded from Global Standard to Small Cap.
However, aside from AMRT’s transfer, MSCI also deleted 13 issuers from the Indonesian Small Cap index.
Thus, there are a total of 19 deletions in the MSCI Indonesia indices. Since AMRT is only moving categories, the number of stocks truly exiting all MSCI indices stands at 18 issuers.
Historically, MSCI composition changes often spark surges in trading volume and price volatility for affected stocks, particularly ahead of the effective implementation date.
Stocks removed could face selling pressure as global institutional investors adjust their portfolios. Conversely, stocks that remain or gain higher weightings may become targets for foreign capital inflows.
In other developments, US President Donald Trump stated he does not need assistance from Chinese President Xi Jinping to end the war with Iran, although the chances of achieving peace are increasingly slim.
Trump said the US will resolve the conflict “peacefully or otherwise.” The war has disrupted shipping routes in the Strait of Hormuz, through which around 20% of the world’s oil supply typically passes.
Meanwhile, Iran is strengthening its control over the Strait of Hormuz by cooperating with Iraq and Pakistan to channel oil and LNG. Other countries are reportedly considering similar moves.
Trump is scheduled to discuss the conflict with Xi Jinping this week. Washington demands that Iran halt its nuclear programme and reopen the Strait of Hormuz, while Tehran demands war reparations, lifting of sanctions, and an end to conflicts across the region.