In the Spotlight: Performance of 17 Indonesian Stocks in the MSCI Index

Morgan Stanley Capital International (MSCI) is conducting an assessment for the MSCI Index Review in May 2026 as well as the MSCI Market Accessibility Review in June 2026. So, how have the share prices of its constituents moved over the past year? In the May 2026 index review, MSCI decided to maintain the temporary policy that has been in place for Indonesian securities. This policy includes freezing increases in Foreign Inclusion Factors (FIF) and Number of Shares (NOS), as well as not adding new shares to the MSCI Investable Market Indexes (IMI). For context, the MSCI Indonesia Index is designed to measure the performance of large- and mid-cap stocks in the Indonesian market. This index covers approximately 85% of the total domestic stock market capitalisation. In terms of performance, according to its official website, the MSCI Indonesia Index recorded a cumulative share price decline of 16.73% year-to-date (ytd) to the level of 1,279.82 as of Monday (21/4/2026). Meanwhile, in the MSCI Global Standard Index, there are 17 Indonesian issuers that are constituents. The majority of the shares are in the red zone compared to the beginning of the year, with only one share recording positive performance. Based on market data, PT United Tractors Tbk (UNTR) is the only share that recorded positive performance with a gain of 7.81%. Meanwhile, the deepest weakening was experienced by PT Barito Renewables Energy Tbk (BREN), which corrected by up to 41.6% throughout the year to date. Further, here is the performance of Indonesian shares in the MSCI Global Standard Index year-to-date as of Monday (21/4/2026):