IDX Composite closes 11.6 percent lower after MSCI warning

Published on 10/16/2026 at 13:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

IDX Composite ends at 5,185 points after MSCI warning; consultation runs to April 30, 2027, with a final decision due by June 30, 2027.

MSCI warning drives market losses

IDX Composite closed at 5,185 points on October 16, down 679 points or 11.6 percent.
MSCI opened a reclassification consultation after citing market concerns on October 15.
Bank of India Indonesia rose 25.0 percent, the strongest reported IDX Composite performer.
MSCI will announce its final decision by June 30, 2027, after feedback closes April 30.

IDX Composite, XC0009655181, Illustration mit AI erstellt.

The IDX Composite closed at 5,185 points on October 16, losing 679 points or 11.6 percent. The selloff followed MSCI's proposal to reclassify Indonesia as a standalone market.

Bank of India Indonesia rose 25.0 percent, making it the strongest reported IDX Composite performer at the close, according to Investing.com.

Why did the IDX Composite fall?

MSCI said Indonesia's emerging-market classification was no longer appropriate and launched a consultation on a standalone-market proposal. MSCI said concerns included market accessibility, governance and market functioning.

The announcement raised the risk of forced selling by funds tracking emerging-market benchmarks. Reuters described the move as the trigger for Jakarta's steepest one-day fall since 1998.

IDX Composite reaches a 2026 low

The index opened at 5,394 points after Thursday's close of 5,864 points. It reached a high of 5,405 points and finished at the day's low of 5,185 points, Kompas reported.

Only 14 stocks rose while 771 declined during the first session. Basic materials fell 13.0 percent, energy dropped 12.2 percent and infrastructure lost 12.1 percent, according to CNBC Indonesia.

What comes next for the IDX Composite

October 20-21, 2026, Jakarta time: Bank Indonesia holds its Board of Governors Meeting, with the policy mix set on October 21, as listed by The Industry Spread.
April 30, 2027: MSCI's consultation on Indonesia's proposed standalone-market classification closes, with feedback accepted until that date.
June 30, 2027: MSCI is due to announce its final classification decision, MSCI said.

More market reports and analysis on the IDX Composite