JCI Plunges 1.38% as Market Digests MSCI Index Review Results

The Jakarta Composite Index (IHSG) came under pressure in trading on Thursday (13/8/2026). After opening higher, the index reversed course and fell sharply as investors digested the results of the Morgan Stanley Capital International (MSCI) August 2026 Index Review.

As of 10.02 WIB, the IHSG had plunged 87.75 points, or 1.38%, to 6,286.10. That level was well below the opening level of 6,388.23.

The IHSG touched a high of 6,390.33 before reversing lower. The index then hit a low of 6,281.57.

The pressure was fairly broad-based. A total of 156 stocks rose, 456 stocks fell, and 351 stocks were unchanged. Transaction value reached Rp5.328 trillion, with trading volume of 10.46 billion shares and a frequency of 784,000 transactions.

The IHSG decline came a day after the index had surged 1.69% to 6,373.85 following the MSCI announcement.

The results of the MSCI review, announced in the early hours of the morning, were the market’s main focus. MSCI did not add any Indonesian stocks to the MSCI Global Standard Indexes. Conversely, GOTO was removed from the MSCI Indonesia Investable Market Index, while CPIN was downgraded from Global Standard to Global Small Cap. MSCI also removed nine Indonesian stocks from the Global Small Cap Indexes.

All of these changes will only take effect after the close of trading on 31 August 2026, or effective from 1 September 2026. However, the market began responding to the decision in today’s trading. The IHSG’s initial response was also in line with the weakness seen at the start of trading after the review results were announced.

In addition to MSCI, investors were also still awaiting US economic data due later in the evening. Producer Price Index (PPI) data and initial jobless claims will provide additional clues for the market in reading the direction of the Federal Reserve’s interest rate policy.

Previously, US consumer inflation for July came in line with expectations, providing room for the market to maintain hopes for monetary policy easing by the Fed.