MSCI Announces August Review, Two Indonesian Stocks Affected in Main Index
Global index provider MSCI Inc announced the MSCI Equity Indexes August 2026 Index Review on 12 August 2026 Central European Summer Time (CEST), with all changes to take effect at market close on 31 August 2026 and become effective on 1 September 2026.
Through its announcement released in Jakarta on Wednesday, MSCI removed two Indonesian stocks from the MSCI Global Standard Index, while no Indonesian stocks were added to the index.
Additionally, MSCI made adjustments to the MSCI Global Small Cap Index category for Indonesian stocks, adding one stock and removing nine stocks from the index.
The following are the details of the MSCI Equity Indexes August 2026 Index Review results for Indonesian stocks:
MSCI Global Standard Indexes
Added: -
Removed: PT Charoen Pokphand Indonesia Tbk (CPIN) and PT GoTo Gojek Tokopedia Tbk (GOTO)
MSCI Small Cap Indexes
Added: PT Charoen Pokphand Indonesia Tbk (CPIN)
Removed: PT Bank Jago Tbk (ARTO), PT Bukalapak Tbk (BUKA), PT Surya Esa Perkasa Tbk (ESSA), PT MD Entertainment Tbk (FILM), PT Medikaloka Hermina Tbk (HEAL), PT MNC Tourism Indonesia Tbk (KPIG), PT Raharja Energi Cepu Tbk (RATU), PT Semen Indonesia Tbk (SMGR), and PT Transcoal Pacific Tbk (TCPI)
MSCI Micro Cap Indexes
Added: -
Removed: -
As a result, nine Indonesian stocks remain in the MSCI Global Standard Index, namely PT Astra International Tbk (ASII), PT Bank Central Asia Tbk (BBCA), PT Bank Negara Indonesia (Persero) Tbk (BBNI), PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), and PT Bank Mandiri (Persero) Tbk (BMRI).
Also remaining are PT Bumi Resources Minerals Tbk (BRMS), PT Barito Pacific Tbk (BRPT), PT Telkom Indonesia (Persero) Tbk (TLKM), and PT United Tractors Tbk (UNTR).
Meanwhile, approximately 33 Indonesian stocks remain in the MSCI Global Small Cap Indexes.
MSCI will announce its next index review on 11 November 2026, with an effective date of 1 December 2026.
The MSCI Index Review is a quarterly index review conducted by MSCI to adjust weightings, add, or remove global stock constituents in its benchmark index portfolios.
The results of the review are highly important for investors as they influence foreign fund flows in global capital markets.
Previously, through the MSCI 2026 Market Classification Review on 24 June 2026, MSCI announced that it recognised transparency reforms announced by the Financial Services Authority (OJK), the Indonesia Stock Exchange (BEI), and the Indonesian Central Securities Depository (KSEI).
This recognition includes improved disclosure of shareholders with ownership above 1 percent, more detailed investor classification, the introduction of a High Shareholders Concentration (HSC) framework, and a roadmap to raise the minimum free float requirement to 15 percent.