PT Sarana Menara Nusantara Tbk (TOWR) and PT Merdeka Copper Gold Tbk will be the new members of Indonesia MSCI index starting effectively at the end of November 2020. Both companies will replace PT HM Sampoerna Tbk (HMSP) and PT XL Axiata Tbk (EXCL) which are removed from the index.

Meanwhile, analysts sees the impact of the index constituent member will not be immediately felt. As a note, MSCI Index is mostly focused on the liquidity of shares. Moreover, the stock weights of HMSP and EXCL are relatively small at 1% and 0.6%.