Index Rebalance

MSCI Indonesia: EM to Standalone Consultation

16 Oct 2026 By Ke Yan, CFA, FRM
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Abstract: MSCI launched a consultation on 15 Oct 2026 on moving Indonesia from Emerging to Standalone status, after freezing certain index changes since January 2026. MSCI decides by 30 Jun 2027 and has not set an implementation date, while Argentina's 2021 move took effect in one step on 30 Nov 2021. We size the selling by MSCI EM and EM IMI tracker ETFs in days of each stock's turnover, highest for Bank Negara Indonesia, Bank Rakyat Indonesia and Astra.

Adaro Andalan Indonesia (AADI IJ) PT Alamtri Resources Indonesia (ADRO IJ) ADECOAGRO (AGRO US) Sumber Alfaria Trijaya (AMRT IJ) Astra Intl (ASII IJ) Bank Central Asia (BBCA IJ) Bank Negara Indonesia (BBNI IJ) Bank Rakyat Indonesia (BBRI IJ) Bank Mandiri (BMRI IJ) Bumi Resources Minerals (BRMS IJ) Barito Pacific (BRPT IJ) Bumi Resources (BUMI IJ) Charoen Pokphand Indonesia (CPIN IJ) Ciputra Development (CTRA IJ) GLOBANT (GLOB US) PT Indofood Sukses Makmur (INDF IJ) Indah Kiat Pulp & Paper (INKP IJ) Indocement Tunggal Prakarsa (INTP IJ) Merdeka Copper Gold (MDKA IJ) Perusahaan Gas Negara (PGAS IJ) Bukit Asam (PTBA IJ) Telkom Indonesia (TLKM IJ) United Tractors (UNTR IJ) YPF Sociedad Anonima (YPF US)

Highlighted Stocks

Adaro Andalan Indonesia, PT Alamtri Resources Indonesia, ADECOAGRO, Sumber Alfaria Trijaya, Astra Intl, Bank Central Asia, Bank Negara Indonesia, Bank Rakyat Indonesia, Bank Mandiri, Bumi Resources Minerals, Barito Pacific, Bumi Resources, Charoen Pokphand Indonesia, Ciputra Development, GLOBANT, PT Indofood Sukses Makmur, Indah Kiat Pulp & Paper, Indocement Tunggal Prakarsa, Merdeka Copper Gold, Perusahaan Gas Negara, Bukit Asam, Telkom Indonesia, United Tractors, YPF Sociedad Anonima

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Fundamental research on individual Asia Pacific companies, including initiations, company meeting takeaways and event-driven notes on catalysts such as primary listing conversions and index inclusion.

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