MSCI’s move to remove and downgrade Indonesian stocks from its indexes may trigger outflows of Rp 500 billion to Rp 1 trillion, mainly affecting stocks directly impacted by the rebalancing.
An electronic display board inside the main hall of the Indonesia Stock Exchange (IDX) in South Jakarta shows an overall downward movement across most stocks during the lunch break on Jan. 29, when the IDX Composite index fell 6.3 percent after global investment firm MSCI raised concerns about free float and trading transparency. (TJP/Deni Ghifari)
Indonesian ride-hailing and technology company PT GoTo Gojek Tokopedia will be removed from the MSCI Indonesia Investable Market Index, according to the global index provider’s latest review released on Thursday.MSCI announced the changes as part of its August 2026 Index Review, which will take effect after the close of trading on Aug. 31, with the revised composition effective from Sept. 1.
“This treatment applies due to potential index replicability issues related to its very low liquidity resulting from trading at the minimum tradable price of Rp 50 on the Indonesia Stock Exchange (IDX) since the close of May 13, 2026,” the review stated.
Shares of poultry producer PT Charoen Pokphand Indonesia would also be downgraded from the MSCI Global Standard Index to the MSCI Global Small Cap Index.
