List of Stocks Removed by MSCI in May 2026, from AMMN to BREN
JAKARTA - Morgan Stanley Capital International (MSCI) has officially announced the results of its periodic review, or index review, for the May 2026 period on Wednesday (13/5/2026).
This rebalancing has surprised market participants because the number of Indonesian stocks exiting the global index is far greater than anticipated.
In this latest adjustment, MSCI has removed six Indonesian stocks from the MSCI Global Standard Indexes and 13 stocks from the MSCI Small Cap Indexes.
The changes to the index composition will take effect after the close of trading on 29 May 2026 and become effective from 1 June 2026.
When a stock is removed from the MSCI index, foreign institutional investors generally adjust their portfolios by selling the related stocks.
The MSCI announcement immediately pressured the domestic stock market. Based on RTI Business data, the Composite Stock Price Index (IHSG) closed down 1.98 per cent, or 135.57 points, at the level of 6,723.32 on Wednesday’s trading (13/5/2026).
Although removed from the MSCI Global Standard Indexes, the AMRT stock has been transferred to the MSCI Small Cap Indexes.
In addition to the main indexes, MSCI has also overhauled the composition of the MSCI Small Cap Indexes for Indonesian stocks.
The Chairwoman of the OJK Board of Commissioners, Friderica Widyasari Dewi, stated at that time that MSCI had announced a freeze policy, so no new stocks would enter the index, but there was a possibility that old stocks could exit.
The market had previously estimated that the stocks of PT Barito Renewables Energy Tbk (BREN) and PT Dian Swastatika Sentosa Tbk (DSSA) would be the issuers most at risk of being removed from MSCI.
Both stocks were highlighted due to their high shareholding concentration, which is considered risky in terms of liquidity and investment accessibility.
However, the results of this MSCI rebalancing turned out to be much larger than market expectations, with a total of 19 Indonesian stocks exiting the global index.