MSCI Removes Six Indonesian Stocks from Standard Index

MSCI Removes Six Indonesian Stocks From Standard Index

Jakarta. MSCI announced a major reshuffle in its Indonesia indexes for the May 2026 review, removing six stocks from the MSCI Standard Index with no new additions.

The changes were announced on Tuesday and will take effect on June 1.

Stocks removed from the MSCI Standard Index are Amman Mineral Internasional (AMMN), Barito Renewables Energy (BREN), Chandra Asri Pacific (TPIA), Dian Swastatika Sentosa (DSSA), Petrindo Jaya Kreasi (CUAN), and Sumber Alfaria Trijaya (AMRT).

MSCI did not add any Indonesian stocks to the standard index in this review period.

Meanwhile, AMRT was added to the MSCI Indonesia Small Cap Index after being removed from the standard index.

The small cap index also saw multiple deletions, namely Aneka Tambang (ANTM), Astra Agro Lestari (AALI), Bank Aladin Syariah (BANK), Bumi Serpong Damai (BSDE), Dharma Satya Nusantara (DSNG), Industri Jamu dan Farmasi Sido Muncul (SIDO), Midi Utama Indonesia (MIDI), Mitra Keluarga Karyasehat (MIKA), MNC Studios International (MSIN), Pabrik Kertas Tjiwi Kimia (TKIM), Pacific Strategic Financial (APIC), Sawit Sumbermas Sarana (SSMS), and Triputra Agro Persada (TAPG).

MSCI made no changes to the MSCI Indonesia Micro Cap Index.

In its note, MSCI stated that AMMN, CUAN, and TPIA were not included in the MSCI Small Cap Index due to free float levels below 15%.

The next MSCI index review announcement is scheduled for Aug. 12, with the changes set to take effect on Sept. 1.

Kiwoom Sekuritas Indonesia said the MSCI decision could increase the risk of further foreign outflows from the domestic stock market and add pressure to sentiment surrounding the Jakarta Composite Index (JCI) amid the rupiah’s weakening trend, with the currency having breached the psychological level of Rp 17,500 per US dollar.

As of 9.14 a.m. Jakarta time, JCI dropped 1.19% or 81 points to 6,777.

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