IHSG Opens in the Red Zone This Morning

Jakarta, CNBC Indonesia — The Composite Stock Price Index (IHSG) opened in the red zone this morning, on Monday (11/5/2026). The IHSG opened down 6.8 points or 0.1% to the level of 6,962.6. A total of 267 stocks rose, 145 fell, and 547 remained unchanged. The transaction value reached Rp 287.3 billion, involving 694.6 million shares in 61,650 transactions. Based on market data, at the start of trading, major bank issuers are still the stocks with the highest transaction values this morning. Meanwhile, the Indonesian financial market this week will be short, lasting only three days due to the holiday and joint leave for the Commemoration of the Ascension of Jesus Christ on Thursday and Friday. A crucial agenda from the domestic capital market that must be anticipated on 12 May 2026 is the MSCI index rebalancing cycle. Based on the official MSCI announcement dated 20 April 2026, the global index agency provided feedback on the capital market transparency reforms initiated by OJK, BEI, and KSEI. These reforms include increased transparency for shareholders above 1%, more detailed investor classification, the implementation of the High Shareholding Concentration (HSC) framework, and a roadmap to increase the minimum free float limit to 15%. MSCI is currently evaluating the scope and effectiveness of this new data source in determining broader estimates of publicly circulating shares or free float. For the May 2026 index review, MSCI has set special interim treatment for Indonesian securities to limit investability risks. MSCI will freeze all increases in Foreign Inclusion Factors (FIF) and Number of Shares (NOS), and will not add new constituents to the MSCI Investable Market Indexes (IMI). Additionally, MSCI will not conduct upward migration for securities from the Small Cap segment to Standard. The most significant policy is MSCI’s decision to delete securities identified by Indonesian authorities as falling under the High Shareholding Concentration (HSC) framework. MSCI will also use 1% shareholder disclosure data to adjust free float estimates if necessary. Further evaluation of these reforms is scheduled to be communicated again in the Market Accessibility Review in June 2026.