Indonesia’s IHSG drops 4.31% at market open
MSCI is consulting investors on a possible change to Indonesia’s market classification, with a final decision due by 30 June 2027.
Indonesia’s Jakarta Composite Index (IHSG) opened at 4,961.87 on 19 October 2026, falling 4.31%, CNBC Indonesia reported. Declining shares outnumbered gainers, with 602 stocks falling, 64 advancing and 88 unchanged.
Trading volume reached 1.17 billion shares, while turnover amounted to Rp1.04 trillion across 80,236 transactions. The opening decline followed a fall of more than 11% in the index during the previous Friday’s session.
The losses came amid uncertainty over MSCI’s proposal to move Indonesia from its Emerging Market classification to Standalone Market status. The proposal remains under consultation and is not a final decision.
Market participants have until 30 April 2027 to submit feedback. MSCI said it would announce its final decision by 30 June 2027 and could provide interim updates on responses received during the consultation.
MSCI identified concerns about the transparency of share ownership, investor access and suspected coordinated share trading. Standalone markets sit outside its Developed, Emerging and Frontier categories. A change to that status would remove Indonesian stocks from the main MSCI Emerging Markets index, which global investment managers use as a benchmark.
