BEI Speaks Out on MSCI Report Results

Illustration. (Photo: Dok. Antara)

JAKARTA - PT Bursa Efek Indonesia (BEI) has spoken out regarding the latest report from global index provider MSCI which delivered a serious warning to the Indonesian capital market.

The Corporate Secretary of the IDX Kautsar Primadi Nurahmad stated that the Financial Services Authority (OJK), IDX, and the Central Securities Depository of Indonesia (KSEI) would continue to communicate and discuss with MSCI following up on the announcement.

"Regarding the announcement from MSCI this morning, OJK, IDX, and KSEI will continue to discuss with MSCI," he explained in his statement, Wednesday, January 28.

He added that his party had increased openness by submitting free float data through the IDX official website and if it was deemed insufficient, it would continue to discuss data transparency in accordance with the MSCI proposal to reach an agreement.

"Previously, we have increased openness by announcing free float data on the IDX website. However, if it is felt that MSCI is not enough, we will continue to discuss data transparency in accordance with MSCI's proposal to find an agreement," he explained.

Previously, the Composite Stock Price Index (JCI) moved in the red zone on Wednesday, January 28, 2026.

Referring to RTI data until 09.00 WIB, the JCI was recorded to have corrected 610.80 points or an equivalent decline of 6.80 percent to the level of 8,369.43.

At the start of trading, the JCI opened at 8,393.51, and throughout the session the index touched a high of 8,454.42 and a low of 8,349.65.

In terms of trading activity, the transaction volume reached 3.94 billion shares with a transaction value of IDR 2.62 trillion.

The frequency of trading was recorded as 209,900 transactions.

Stock movements were dominated by weakness, with 488 emitters falling, 62 stocks gaining and 408 stocks stagnating.

For information, the sharp decline in the JCI occurred after the global index provider MSCI delivered a serious warning to the Indonesian capital market.

In its latest statement, MSCI decided to temporarily freeze the index treatment of Indonesian stocks due to concerns related to aspects of free float and market accessibility.

In an announcement released on Tuesday evening, January 27, MSCI said it had completed the consultation process regarding the evaluation of Indonesian free float shares.

Although the Indonesia Stock Exchange (IDX) has made a number of limited improvements, MSCI assessed that the move was not enough to ease the concerns of global investors.

As an effort to control risks, MSCI has imposed an interim freeze policy which is effective immediately.

This policy includes freezing the increase in the weight of Indonesian stocks, stopping the addition of new stocks to the MSCI index, and no increase in the classification of Indonesian stocks in all indices.

"This step was taken to limit the risk of index turnover and maintain the aspect of investability, while giving time for the relevant market authorities to present improvements in transparency," MSCI wrote in its statement, quoted Wednesday, January 28.

Furthermore, MSCI also emphasized the possibility of applying more stringent follow-up measures if there is no significant improvement in terms of market transparency and ease of access.

The steps can take the form of reducing Indonesia's weight in the MSCI Emerging Markets index to the option of reducing Indonesia's status from Emerging Market to Frontier Market.