A man walks inside the Indonesia Stock Exchange building in Jakarta, Indonesia, May 13, 2026. Indonesia's benchmark Jakarta Composite Index slid more than 1 percent at Wednesday's open to 6,756.7, down from Tuesday's close of 6,858.9.(Xinhua/Agung Kuncahya B.)

JAKARTA, May 13 (Xinhua) -- Indonesia's benchmark Jakarta Composite Index slid more than 1 percent at Wednesday's open to 6,756.7, down from Tuesday's close of 6,858.9.

The decline was fueled by negative sentiment following the Morgan Stanley Capital International (MSCI) index rebalancing and a weakening rupiah, according to local media reports.

Some analysts attributed the downward pressure to MSCI's decision to remove several companies from its Indonesia global standard Index. However, Indonesia's Financial Services Authority said on Wednesday that there has been no sign of panic selling.

Meanwhile, the rupiah edged up to 17,515 per U.S. dollar on Wednesday morning after hitting a historic low of 17,500 on Tuesday morning.

A woman stands inside the Indonesia Stock Exchange building in Jakarta, Indonesia, May 13, 2026.

Indonesia's benchmark Jakarta Composite Index slid more than 1 percent at Wednesday's open to 6,756.7, down from Tuesday's close of 6,858.9. (Xinhua/Agung Kuncahya B.)

A person takes a photo at the Indonesia Stock Exchange building in Jakarta, Indonesia, May 13, 2026.

Indonesia's benchmark Jakarta Composite Index slid more than 1 percent at Wednesday's open to 6,756.7, down from Tuesday's close of 6,858.9.(Xinhua/Agung Kuncahya B.)