Foreign Capital Outflow of Rp 1.37 Trillion, JCI Potential for Further Correction
Foreign investors continued their selling spree in the domestic stock market. During trading on Tuesday (2/6/2026), foreign investors recorded a net sell of approximately Rp 1.37 trillion, even though the Jakarta Composite Index (JCI) closed up 1.11 per cent.
This outflow of foreign funds signals that global market participants remain cautious regarding risky assets amidst increasing geopolitical and global economic uncertainty. Fanny Suherman, Head of Retail Research at BNI Sekuritas, stated that the strengthening of the JCI has not yet been supported by the return of foreign capital inflows to the domestic market.
“The JCI closed up 1.11 per cent yesterday, but was still accompanied by a foreign net sell of around Rp 1.37 trillion. The JCI has the potential to undergo another correction today,” Suherman noted in his daily research on Wednesday (3/6/2026).
He noted that the stocks most heavily sold by foreign investors included TPIA, ASII, MAPI, BUVA, and BMRI. Pressure on the market stems from uncertainties regarding the development of conflicts in the Middle East. Investors are closely monitoring reports of halted communications between Iran and the United States via mediators, which has triggered concerns regarding global energy supplies.
These conditions have also supported high global oil prices. For financial markets, rising energy prices have the potential to trigger inflationary pressures and increase economic uncertainty.
On the other hand, the United States stock market has reached new records, with the S&P 500 rising 0.13 per cent to 7,609.78, while the Dow Jones gained 0.45 per cent. However, positive sentiment from Wall Street has not been sufficient to encourage foreign investors to return aggressively to the Indonesian market.
BNI Sekuritas expects the JCI to move within a support range of 6,000-6,100 and a resistance range of 6,200-6,300. Market participants are expected to await the latest developments in the Middle East and the direction of foreign capital flows before taking more aggressive positions.
Amid the potential for market correction, BNI Sekuritas recommends several stocks worth monitoring, including DSSA, LSIP, JPFA, KLBF, ESSA, and BIPI. These stocks are considered to have technical opportunities to continue their gains if supported by conducive market sentiment.