The Jakarta Composite Index (IHSG) closed down 0.21 percent, or 10.69 points, at 5,115 on Wednesday, ahead of the MSCI November 2026 index rebalancing announcement scheduled for the following day. Shares of PT Barito Pacific Tbk (BRPT) and PT Bumi Resources Minerals Tbk (BRMS), both projected to be removed from the MSCI Global Standard Index, closed lower.
Index exposure at stake
BRMS closed at 298 rupiah, down 2.61 percent. BRPT closed at 765 rupiah, down 6.71 percent. Wilbert Arifin, Research Analyst at PT Mirae Asset Sekuritas Indonesia, said BRPT’s chance of being removed from the index remains around 40 percent. He put potential passive fund outflow at up to 900 billion rupiah, equivalent to about 840 million shares or 3.7 percent of foreign ownership.
For BRMS, the projected move is a downgrade to the MSCI Small Cap Index rather than an exit. Arifin estimated passive outflow of about 300 billion rupiah, or roughly 900 million shares, equal to 1.1 percent of foreign ownership.
Broader session weak
Breadth was negative. Of the stocks traded, 180 closed higher, 383 closed lower and 152 were unchanged. The basic materials sector fell 1.86 percent. Trading volume reached 31.83 billion shares, with total transaction value of 8.79 trillion rupiah. Market capitalisation stood at 8,813 trillion rupiah.
Regional markets mixed
Elsewhere in Asia, Japan’s Nikkei rose 1.42 percent to 61,316. The Shanghai Composite gained 0.46 percent to 3,680, while Hong Kong’s Hang Seng slipped 0.98 percent to 24,315.
Related: Analyst sees IHSG volatility likely ahead of MSCI review · Jakarta index holds 5,090 as rupiah slips to 18,100 per dollar
Source: Mirae Asset Sekuritas Indonesia
