Stocks removed from the Morgan Stanley Capital International (MSCI) index declined simultaneously during trading on Wednesday (13/5/2026), after MSCI officially announced the results of its May 2026 global index review.

Based on morning trading activity, shares of PT Chandra Asri Pacific Tbk (TPIA) suffered the steepest decline, dropping 12.48% to 4,420. This was followed by PT Petrindo Jaya Kreasi Tbk (CUAN), which plunged 12.17% to 830.

PT Amman Mineral Internasional Tbk (AMMN) also recorded a sharp decline of 10.57% to 3,640, while PT Dian Swastatika Sentosa Tbk (DSSA) fell 9.87% to 1,050.

Shares of PT Barito Renewables Energy Tbk (BREN) corrected 8.31% to 3,310, and PT Sumber Alfaria Trijaya Tbk (AMRT) declined 5.30% to 1,340.

Selling pressure also affected stocks removed from the MSCI Global Small Cap Index. PT Bank Aladin Syariah Tbk (BANK) dropped 6.67%, PT Midi Utama Indonesia Tbk (MIDI) weakened 6.55%, and PT Bumi Serpong Damai Tbk (BSDE) fell 5.26%.

Meanwhile, PT Astra Agro Lestari Tbk (AALI) corrected 4.95%, PT Aneka Tambang Tbk (ANTM) declined 3.36%, and PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) weakened 2.58%.

Previously, MSCI officially removed six Indonesian stocks from the MSCI Global Standard Index without adding any new constituents.

The six stocks excluded from the MSCI Global Standard Index were:

• PT Amman Mineral Internasional Tbk (AMMN)
• PT Barito Renewables Energy Tbk (BREN)
• PT Chandra Asri Pacific Tbk (TPIA)
• PT Dian Swastatika Sentosa Tbk (DSSA)
• PT Petrindo Jaya Kreasi Tbk (CUAN)
• PT Sumber Alfaria Trijaya Tbk (AMRT)

In addition, MSCI also removed 13 Indonesian stocks from the MSCI Global Small Cap Index. All of these changes will take effect at the close of trading on May 29, 2026.

Previously, CGS International Sekuritas Indonesia estimated that this MSCI rebalancing could trigger passive fund outflows of up to US$1.8 billion, or approximately Rp31.49 trillion.