Ex-MSCI Stocks Show Signs of Stabilization After Foreign Selling Pressure

Market Recovery Signs

Stocks that were recently removed from the MSCI index are showing signs of stabilization following significant foreign investor selling. On November 26, 2025, several affected stocks demonstrated mixed performance in trading. Kalbe Farma (KLBF) closed 2.03% higher at Rp 1,255, indicating positive momentum, while Indofood CBP Sukses Makmur (ICBP) rose 0.29% to Rp 8,600. Conversely, Selamat Sempurna (SMSM) experienced a 0.57% decline to Rp 1,740, and Ultrajaya Milk Industry (ULTJ) remained steady at Rp 1,515.

Analyst Insights

Muhammad Wafi, analyst at Korea Investment and Sekuritas Indonesia (KISI), provided valuable context for the observed market movements. Wafi attributed the recent foreign selling pressure to technical factors stemming from index rebalancing rather than fundamental concerns about the companies. This technical selling has been a significant driver of the recent stock price movements.

Market Implications

The stabilization of these ex-MSCI stocks is particularly noteworthy as it suggests that the market is absorbing the selling pressure. The varied performance of these stocks indicates differing investor sentiments across the affected companies. As market participants continue to monitor these developments, the stabilization could potentially pave the way for more positive market dynamics in the near term.