Jakarta. Indonesia’s financial regulator has urged investors not to be swayed by rumors or unverified information ahead of two closely watched reviews by MSCI this month that could affect the country’s standing in global equity markets.

The Financial Services Authority (OJK) said investors should rely on official information and company fundamentals rather than speculation as markets await MSCI’s Global Market Accessibility Review and Annual Market Classification Review.

“We hope investors will assess developments wisely and use information from trusted sources,” Hasan Fawzi, OJK’s chief executive for capital market supervision, told reporters on Wednesday.

The warning comes after misleading social media posts circulated in recent weeks, including screenshots claiming Indonesia had already been downgraded to frontier market status before MSCI’s official announcements.

Hasan dismissed the reports as false and urged investors to verify information through official channels.

“Do not make decisions based on unverified information. There have been many rumors and hoaxes circulating. They are not official information and were not published on MSCI’s website,” he said.

Investors are awaiting MSCI’s decisions on two key issues: whether the index provider will lift its freeze on changes to Indonesian index constituents and whether Indonesia’s current emerging market classification will be maintained.

The freeze currently prevents the addition of new Indonesian stocks to MSCI indexes, upgrades between index categories, and adjustments to Foreign Inclusion Factors (FIF) and the Number of Shares (NOS) used in index calculations.

MSCI is scheduled to release its Global Market Accessibility Review on June 18, followed by its Annual Market Classification Review on June 23. The announcements are expected to be available in Indonesia on June 19 and June 24, respectively.

The reviews are being closely monitored by investors because any changes could influence foreign capital flows into Indonesian equities. Indonesia is currently classified by MSCI as an emerging market, a status that helps attract investment from global funds benchmarked to emerging-market indexes.

Hasan said OJK and other capital market stakeholders held a technical meeting with MSCI analysts on June 10, during which they provided the data and information requested by the index provider.

“MSCI has confirmed that it has received all the information and data required, particularly regarding disclosure standards and share ownership in listed companies,” he said.

He also stressed that the reviews are part of MSCI’s regular global assessment process and are not targeted specifically at Indonesia.

Rather than reacting to speculation, Hasan encouraged investors to focus on corporate fundamentals, including first-quarter 2026 earnings reports and upcoming first-half results, when making investment decisions.

“These financial reports can serve as the basis for deciding whether to continue holding a stock or adjust portfolio positions,” he said.

With the reviews approaching, Hasan said investors should remain calm despite market uncertainty.

“There is no reason to panic. Panic is an investor’s biggest enemy, especially in times of uncertainty,” he said.