Indonesian Stocks Removed from MSCI, OJK: Japan, Korea, and China Also Affected

JAKARTA - The Financial Services Authority (OJK) notes that the removal of several Indonesian-origin stocks from the Morgan Stanley Capital International (MSCI) index is not a phenomenon unique to the domestic market. The regulator states that nearly all major Asia-Pacific stock exchanges experienced similar adjustments in the latest MSCI review, including Japan, Taiwan, Malaysia, South Korea, and China. OJK Commissioner Chair Friderica Widyasari Dewi said that the changes in the MSCI index composition are not only occurring in Indonesia but also affecting nearly all stock markets in the Asia-Pacific region during this review period. “Changes in the MSCI index composition are part of the periodic review mechanism based on several objective parameters such as market capitalisation, free float, liquidity, and stock price dynamics,” stated Friderica on Wednesday (13/5/2026). “This phenomenon is not only happening in Indonesia but in almost all Asia-Pacific markets in this review,” she explained. In the MSCI Global Standard Index, 14 Japanese issuers were removed from the index. Taiwan had seven issuers, Malaysia six, and South Korea three. Even China, although successfully adding 22 issuers to the index, also saw 24 issuers removed. Nevertheless, Kiki views this situation as an important reminder to continue strengthening the quality and depth of Indonesia’s capital market. “OJK, together with all stakeholders, will continue to encourage strengthening market integrity, increasing free float and liquidity, expanding the investor base, and enhancing issuer governance so that the competitiveness of Indonesia’s capital market becomes stronger and sustainable,” she stated. OJK also assures that the fundamentals of Indonesia’s financial services sector remain resilient and stable to date. Short-term volatility or changes in global indices are deemed not to alter the regulator’s commitment to continue building a healthy, transparent, and credible capital market for both domestic and global investors. Moving forward, OJK will continue to strengthen coordination with the Indonesia Stock Exchange (BEI), self-regulatory organisations (SROs), and all market participants to ensure that the country’s capital market becomes increasingly attractive, liquid, and investable in the long term.