MSCI Index: A Global Investor's Benchmark for Selecting Top Stocks

MSCI Inc., formerly known as Morgan Stanley Capital International, is a global stock index research company based in New York, United States.

Currently, MSCI at least provides 1,1129 flagship indexes out of a total of 8,286 constituents, monitoring and analyzing stocks from 47 countries (23 developed markets and 24 emerging markets), including Indonesia.

Like other indexes, MSCI has its own methodology and criteria for determining which stocks are included in the index calculation, including market capitalization, liquidity, and accessibility for global investors.

MSCI Index Categories

MSCI generally categorizes indexes based on market exposure (developed or emerging), market capitalization (large, mid, or small), as well as specific themes and regions.

Indonesian stocks are included in several indexes, such as the MSCI Global Standard Index and the MSCI Indonesia Index. There are also indexes based on other categories, such as the MSCI Small Cap Index, MSCI Investable Market Index, MSCI Emerging Market Index, and more.

Indonesian Stocks in the MSCI Index

In the latest MSCI Index Factsheet on October 31, 2025, a total of 71 Indonesian stocks were recorded, consisting of 8 large-cap stocks, 10 mid-cap stocks, and 53 small-cap stocks according to MSCI's assessment.

The current MSCI Index Review was announced on November 5, 2025, and has generated significant interest among investors.

Below is the list of constituents that were added to or deleted from the MSCI Index Review that became effective as of November 25, 2025.

Global Standard Index

Additions	Deletions
BREN Barito Renewables Energy	ICBP Indofood CBP Sukses Makmur
BRMS Bumi Resources Minerals	KLBF Kalbe Farma

Small Cap Index

Additions	Deletions
DSNG Dharma Satya Nusantara	BRMS Bumi Resources Minerals
ENRG Energi Mega Persada	SMSM Selamat Sempurna
KLBF Kalbe Farma	ULTJ Ultrajaya Milk Industry & Trdg.
MSIN MNC Digital Entertainment
RAJA Rukun Raharja
WIFI Solusi Sinergi Digital
TINS Timah

---

Disclaimer: The content is made for educational purposes, not a recommendation to buy or sell a particular stock. PT KAF Sekuritas Indonesia is licensed and supervised by the Financial Services Authority (OJK).