Bisnis.com, Jakarta \u2014 PT Mirae Asset Sekuritas Indonesia has\nrecommended a number of selected stocks amid the continuing pressures\nweighing on the domestic stock market through 2026.<\/p>\n
The banking sector is seen as one of the attractive investment\nopportunities due to its valuations. In addition, a number of consumer\nissuers are on the radar of stock recommendations as they are expected\nto see growth in Q1 2026 results.<\/p>\n
Martha Christina, Head of Investment Information at PT Mirae Asset\nSekuritas Indonesia, said that the Jakarta Composite Index (IHSG) as of\n19 May 2026 stood at 6,371, down 26.3% year-to-date. The performance\nmakes the IHSG one of the worst-performing indices globally according to\nthe YTD ranking by IECMD of the Indonesia Stock Exchange.<\/p>\n
Market pressure is also reflected in net foreign selling that has\nbeen persistent since the start of the year. Net foreign outflow reached\nRp13.3 trillion in January, Rp5.7 trillion in February, Rp10.5 trillion\nin March, Rp16.8 trillion in April, and Rp4.9 trillion by mid-May\n2026.<\/p>\n
\u201cNevertheless, large-cap banks remain attractive to own because their\nfundamentals continue to grow positively,\u201d she said on Wednesday (20 May\n2026).<\/p>\n
Four jumbo banks, namely PT Bank Mandiri (Persero) Tbk. (BMRI), PT\nBank Rakyat Indonesia (Persero) Tbk. (BBRI), PT Bank Central Asia Tbk.\n(BBCA), and PT Bank Negara Indonesia (Persero) Tbk. (BBNI), still posted\nyear-on-year net profit growth.<\/p>\n
BMRI recorded the highest YoY earnings growth at 18.8% based on four\nmonths of 2026 performance. Meanwhile, BBRI\u2019s net profit grew 13.7%,\nBBCA 3.8%, and BBNI 5.2% in Q1 2026.<\/p>\n
According to him, valuations of banking stocks are now at\nhistorically attractive levels as PBV has corrected significantly toward\nmulti-year lows. BBCA, for instance, is approaching levels seen during\nthe 2008 crisis, even as foreign net selling remains heavy.<\/p>\n
In addition to bank stocks, Mirae Asset also recommended several\nother stocks that are deemed to have upside potential because their\nshare prices are still below market consensus. These include PT Indosat\nTbk. (ISAT), PT Cisarua Mountain Dairy Tbk. (CMRY), PT Japfa Comfeed\nIndonesia Tbk. (JPFA), PT Midi Utama Indonesia Tbk. (MIDI), PT Erajaya\nSwasembada Tbk. (ERAA), and PT Surya Citra Media Tbk. (SCMA).<\/p>\n
To navigate market volatility, Mirae Asset advises investors to\ndiversify portfolios, increase holdings in defensive instruments such as\nMoney Market Mutual Funds (RDPU), and be more selective in choosing\nstocks with strong fundamentals.<\/p>\n
\u201cVolatility is not just about risk; it is also an opportunity for\ndisciplined and knowledgeable investors,\u201d Martha said.<\/p>\n
On the other hand, Martha also highlighted a shift in foreign fund\nflows from the banking sector to commodity stocks in the past one to two\nyears. She said the previous surge in commodity prices had made stocks\nin related sectors more attractive to global investors.<\/p>\n
Foreign holdings are most concentrated in banking, hence large-scale\nselling was seen in those stocks. In the last 1-2 years there has indeed\nbeen a shift as commodity price surges benefit related issuers, she\nnoted.<\/p>\n
However, commodity stocks now face new pressure after the government\nproposed a single-window export system for strategic commodities such as\ncoal and crude palm oil (CPO). The government through BPI Danantara has\nformed PT Danantara Sumberdaya Indonesia as the single platform for the\nexport process of natural resources via state-owned enterprises. From\nJune 2026, export documentation is said to be processed through this\nentity.<\/p>\n
Martha believes the market is awaiting clarity on the government\u2019s\ndirection of policy regarding the commodity export body. \u201cThe country\nneeds money quickly; perhaps the idea of an export body is to widen the\nstate\u2019s revenue collection. But we have not yet seen the details,\u201d she\nsaid. She added that legal certainty and regulation are crucial factors\nfor investors and businesses, especially amid the government\u2019s efforts\nto attract investment into Indonesia. \u201cFor entrepreneurs, profits or\nlosses can usually be managed as long as the rules are clear. Certainty\nis the number one,\u201d she stated.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/miraes-selected-stocks-amid-ihsg-slump-bbca-in-focus-1779542996", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }