JAKARTA – The Composite Stock Price Index (IHSG) is anticipated to weaken today, Wednesday (May 13, 2026), as global index provider MSCI Inc. announced the results of its May 2026 rebalancing, significantly impacting several Indonesian stocks. Despite this market pressure, some equities, including PANI, PNLF, and RAJA, continue to be recommended by analysts for close investor attention.
Reza Diofanda, an analyst at BRI Danareksa Sekuritas, observed that from a technical standpoint, the IHSG is poised to retest its crucial support zone between 6,850 and 6,960. The market’s focus remains keenly set on upcoming Indonesian retail sales data, US inflation figures, and the unfolding MSCI rebalancing.
“Technically, the IHSG is still testing a significant support area in the range of 6,850–6,960. As long as this level holds, the potential for a rebound remains open; however, if it is breached, the risk of further weakening will increase,” Diofanda stated in his daily research report on Wednesday (May 13, 2026).
The international index provider, MSCI Inc., recently unveiled the outcomes of its latest stock rebalancing. The MSCI May 2026 Index Review revealed no new Indonesian stocks were added to the prestigious MSCI Global Standard Index. Conversely, MSCI removed six prominent Indonesian stocks from this index: AMMN, BREN, TPIA, DSSA, CUAN, and AMRT.
Interestingly, AMRT, after its removal from the MSCI Global Standard Index, found a new place within the MSCI Small Cap Index. However, the rebalancing also saw 13 other Indonesian stocks delisted from the MSCI Small Cap Index. These included significant players such as ANTM, AALI, BANK, BSDE, DSNG, SIDO, MIDI, MIKA, MSIN, TKIM, APIC, SSMS, and TAPG.
BRI Danareksa’s research indicates that stocks removed from MSCI indexes face potential selling pressure, largely driven by rebalancing activities from foreign institutions and MSCI-based Exchange Traded Funds (ETFs). Consequently, increased market volatility is anticipated towards the end of May as institutional investors adjust their portfolios. The absence of new Indonesian stocks entering the MSCI Standard Index also contributes to a distinct sentiment impacting the domestic market.
Amidst these market dynamics, BRI Danareksa Sekuritas (BRIDS) has highlighted several specific stock recommendations. PT Pantai Indah Kapuk Dua Tbk. (PANI) is recommended with a target price range of Rp8,850–Rp9,250 and a stop loss set below Rp8,300 per share. Additionally, analysts endorse PT Panin Financial Tbk. (PNLF), projecting a target price of Rp280–Rp286, and PT Rukun Raharja Tbk. (RAJA), with a target price between Rp4,400–Rp4,670 and a stop loss below Rp3,850.
Conversely, BRIDS has issued a “sell” recommendation for shares of PT Dian Swastatika Sentosa Tbk. (DSSA), assigning a target price of Rp1,170 per share. Technically, DSSA is assessed to be navigating a bearish trend, consistently overshadowed by significant selling pressure.
Yesterday’s trading session saw the IHSG close 0.92% lower at 6,905.5, with foreign selling pressure remaining dominant, amounting to Rp659 billion in the regular market. This market weakness was not isolated to Indonesia; most Asian exchanges also experienced declines, influenced by rising crude oil prices after US President Donald Trump reportedly rejected Iran’s peace proposal. The rupiah further depreciated, crossing the Rp17,400 per US dollar mark, intensifying pressure on the Indonesian market.
“Market sentiment briefly improved following a delay in plans to raise mining royalty tariffs but was subsequently weighed down again after the government confirmed that royalty adjustments would still apply starting June 2026,” Diofanda added, highlighting the fluctuating local factors influencing investor confidence.
Disclaimer: This news is not intended to incite the purchase or sale of stocks. Investment decisions are solely at the discretion of the reader. Bisnis.com is not responsible for any losses or gains arising from the reader’s investment decisions.
Summary
The Composite Stock Price Index (IHSG) is anticipated to weaken and is currently testing a crucial support zone, following the results of MSCI Inc.’s May 2026 rebalancing. This rebalancing revealed no new Indonesian stocks added to the MSCI Global Standard Index, while six prominent stocks were removed, including AMMN and BREN. Furthermore, thirteen other Indonesian stocks were delisted from the MSCI Small Cap Index, which is expected to trigger selling pressure from foreign institutions and increase market volatility.
Amidst these market dynamics, BRI Danareksa Sekuritas recommends investor attention on stocks like PANI, PNLF, and RAJA, conversely issuing a “sell” recommendation for DSSA. Yesterday, the IHSG closed 0.92% lower at 6,905.5, experiencing significant foreign selling pressure. Broader market weakness was also influenced by factors such as rising crude oil prices and the depreciation of the rupiah against the US dollar.
