RRI.CO.ID, Jakarta – The Indonesian Financial Services Authority (OJK) responded on Wednesday to the removal of Indonesian stocks from the Morgan Stanley Capital International (MSCI) global index. It described this as a short-term consequence aimed at creating a more transparent and open stock market in the future.

During a press conference at the Indonesia Stock Exchange building in Jakarta on Wednesday, May 13, 2026, the OJK Chief Executive of Capital Market, Financial Derivative & Carbon Exchange Supervision Hasan Fawzi emphasized that the changes to the stock list in the MSCI index had been anticipated. He described the current market reaction as merely a small sacrifice or “short-term pain” for the sake of broader reforms.

He explained, “These structural changes will certainly have at least short-term implications, such as a decline and price adjustment reactions in the affected stocks. So, the term “short-term pain” refers to the fact that we will have to face, let’s say, a certain level of decline in the short term. This is a consequence we have calculated and anticipated from the very beginning.”

Furthermore, he described the MSCI index rebalancing as a crucial opportunity to lay a new foundation for Indonesia’s capital market. With this new database, it is hoped that stocks listed on the exchange will be of higher quality, thereby becoming more attractive to investors.

“We hope this will establish a new baseline, a new foundation, where our starting point will increasingly highlight the quality of listed stocks on the exchange, and of course, we hope that in the future, these stocks will be promoted as investment choices for investors,” Hasan said.

The Indonesian Financial Services Authority, together with the Self-Regulatory Organization, have implemented various reform policies. Concrete steps taken include raising the minimum public float requirement to 15 percent, as well as promoting transparency at the Indonesia Stock Exchange by making shareholding data above 1 percent available to the general public.

Furthermore, coordination and synergy with stakeholders will continue to be strengthened. This is being done to implement and accelerate capital market integrity reform initiatives, thereby enhancing the credibility and investability of Indonesia’s capital market on the global stage.