MSCI Overhauls Indexes, 10 Indonesian Shares Removed

A total of ten shares listed on the Indonesia Stock Exchange (BEI) have been removed from MSCI indexes as part of the August 2026 index review. The deletions include two shares from the MSCI Global Standard Indexes and nine shares from the MSCI Global Small Cap Indexes. However, one share, PT Charoen Pokphand Indonesia Tbk. (CPIN), was downgraded to the MSCI Global Small Cap Indexes.

These changes are part of the results of the MSCI Equity Indexes August 2026 Index Review, announced on 12 August 2026. All constituent changes will be effective after the close of trading on 31 August 2026.

In the MSCI Global Standard Indexes, no Indonesian shares were added. Two shares were removed: PT Charoen Pokphand Indonesia Tbk. (CPIN) and PT GoTo Gojek Tokopedia Tbk. (GOTO). Consequently, the number of Indonesian constituents in the MSCI Global Standard Indexes decreased by two during this rebalancing.

Meanwhile, the MSCI Global Small Cap Indexes saw one addition from Indonesia, namely CPIN. Conversely, nine Indonesian shares were removed from the index. The nine shares removed from the MSCI Global Small Cap Indexes are PT Bank Jago Tbk. (ARTO), PT Bukalapak.com Tbk. (BUKA), PT ESSA Industries Indonesia 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 (Persero) Tbk. (SMGR), and PT Transcoal Pacific Tbk. (TCPI).

Overall, ten Indonesian shares were removed from the MSCI indexes, with CPIN being the only share to gain constituent status in the MSCI Global Small Cap Indexes. Globally, MSCI stated that 55 securities will be added to and 92 removed from the MSCI ACWI Index. For the MSCI Global Small Cap Indexes, there will be 203 additions and 261 deletions. The changes will be implemented after the close of trading on 31 August 2026, meaning the rebalanced index composition will be reflected in trading starting 1 September 2026.