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 provides at least 3,825 flagship indexes out of a total of 8,176 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 July 31, 2026 (before the August 2026 rebalancing), a total of 60 Indonesian stocks were recorded, consisting of 11 large-cap stocks and 49 mid-and-small-cap stocks according to MSCI's assessment.

The current MSCI Index Review was announced on August 13, 2026, and has generated significant interest among investors.

Below is the list of constituents that were added to or deleted from the MSCI Index Review, aka rebalancing, that became effective as of September 1, 2025.

Global Standard Index

Additions	Deletions
-	CPIN Charoen Pokphand Indonesia
	GOTO GoTo Gojek Tokopedia

Small Cap Index

Additions	Deletions
CPIN Charoen Pokphand Indonesia	ARTO Bank Jago
	BUKA Bukalapak
	ESSA ESSA Industries Indonesia
	FILM MD Entertainment
	HEAL Medialoka Hermina
	KPIG MNC Tourism Indonesia
	RATU Raharja Energi Cepu
	SMGR Semen Indonesia
	TCPI Transcoal Pacific

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