Alert: Foreign Investors Net Selling Rp8.52 Trillion, Top 10 Stocks Targeted

Jakarta, CNBC Indonesia - Foreign investors recorded a massive net sell-off today, Friday, 29 May 2026.

According to Stockbit data, foreign net sell transactions across Indonesian stocks reached Rp8.52 trillion. Specifically, Rp8.36 trillion in the regular market and Rp160 billion in the negotiated and cash markets.

Foreign selling pressure was most pronounced in banking shares and conglomerate issuers.

PT Bank Central Asia Tbk. (BBCA) saw the largest net sell by foreigners at Rp1.96 trillion, while PT Chandra Asri Pacific Tbk. (TPIA), a conglomerate firm, was sold off by foreigners up to Rp1.94 trillion.

Most large-cap banks closed in the red with significant selling pressure.

Market analyst Elandry Pratama said the correction in big bank stocks was largely due to short-term profit-taking after a significant rebound in the previous days.

‘Given the approaching weekend, it is understandable that some market participants chose to lock in profits first,’ Elandry told CNBC Indonesia on Friday, 29 May 2026.

Additionally, Elandry noted global sentiment towards the market remains mixed, particularly regarding Federal Reserve interest rate directions, US bond yields movements, and the rupiah’s depreciation, which made foreign investors slightly more cautious towards the end of the session.

On the other hand, Elandry highlighted a shift in capital towards conglomerate and cyclical stocks that have recently been more active, with temporary capital outflows from big banks.

‘However, so far I see the correction as relatively normal and not fundamentally altering the banking sector outlook, as liquidity and asset quality of major banks remain solid,’ Elandry said.

‘For medium-to-long-term investors, this situation is more of a healthy consolidation rather than a major trend change,’ he added.

Here is the list of stocks most heavily sold by foreigners today:

• PT Bank Central Asia Tbk. (BBCA) - Rp1.96 trillion

• PT Chandra Asri Pacific Tbk. (TPIA) - Rp1.94 trillion

• PT Amman Mineral Internasional Tbk. (AMMN) - Rp1.61 trillion

• PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI) - Rp738 billion

• PT Bank Mandiri (Persero) Tbk. (BMRI) - Rp390 billion

• PT Sumber Alfaria Trijaya Tbk. (AMRT) - Rp364.68 billion

• PT Aneka Tambang Tbk. (ANTM) - Rp263 billion

• PT Barito Renewables Energy Tbk. (BREN) - Rp254 billion

• PT Barito Pacific Tbk. (BRPT) - Rp201 billion

• PT Dian Swastatika Sentosa Tbk. (DSSA) - Rp173 billion