Indonesian Political, Business & Finance News

Indonesia Remains in MSCI Emerging Markets Index

| Source: CNBC Translated from Indonesian | Finance
Indonesia Remains in MSCI Emerging Markets Index
Image: CNBC

Jakarta, CNBC Indonesia — Morgan Stanley Capital International (MSCI) has retained Indonesia in the emerging markets group. As is known, MSCI had previously opened the possibility of reclassifying Indonesia’s status from emerging markets to frontier markets.

In the announcement on Tuesday (12/5/2026) US time, Indonesia remains categorised in the emerging markets list alongside other countries such as China, India, South Korea, Malaysia, the Philippines, Taiwan, and Thailand.

Nevertheless, MSCI has officially announced the results of the global index review for the May 2026 period. The outcome delivers a significant blow to Indonesia after six domestic stocks were removed from the MSCI Global Standard Index, with no new stocks added.

Based on the official MSCI Global Standard Indexes May 2026 Review document, six Indonesian stocks have been deleted, and no additional stocks have been included in the MSCI global standard index.

The six Indonesian stocks removed from the MSCI Global Standard Index 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)

On the other hand, in the MSCI Global Small Cap Indexes, one Indonesian stock has been added, namely PT Sumber Alfaria Trijaya Tbk (AMRT). Meanwhile, 13 Indonesian stocks have been removed from the MSCI small cap index.

The stocks exiting the MSCI Global Small Cap Index include:

  • PT Aneka Tambang Tbk (ANTM)

  • PT Astra Agro Lestari Tbk (AALI)

  • PT Bank Aladin Syariah Tbk (BANK)

  • PT Bumi Serpong Damai Tbk (BSDE)

  • PT Dharma Satya Nusantara Tbk (DSNG)

  • PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO)

  • PT Midi Utama Indonesia Tbk (MIDI)

  • PT Mitra Keluarga Karyasehat Tbk (MIKA)

  • PT MNC Digital Entertainment Tbk (MSIN)

  • PT Pabrik Kertas Tjiwi Kimia Tbk (TKIM)

  • PT Pacific Strategic Financial Tbk (APIC)

  • PT Sawit Sumbermas Sarana Tbk (SSMS)

  • PT Triputra Agro Persada Tbk (TAPG)

All these changes will take effect at the close of trading on 29 May 2026.

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