Foreign Investors Buy Up Mining Stocks as IHSG Rebounds

Jakarta — Despite foreign investors posting a net foreign selling of Rp210 billion across the market on Thursday, several stocks attracted net foreign buying. According to trading data, the largest foreign fund inflows were into jumbo-cap banks and into energy and commodity sector issuers. Bank Central Asia (BBCA) shares recorded the biggest net foreign buy, amounting to around Rp148.2 billion. In second place was PT Astra International Tbk (ASII) with net foreign buying of Rp90.8 billion from total trades of Rp339.4 billion. Meanwhile, PT Indo Tambangraya Megah Tbk (ITMG) placed third with net foreign buying of Rp81.6 billion. Below are the ten stocks with the largest net foreign buying in yesterday’s trading: - PT Bank Central Asia Tbk (BBCA) - Rp148.2 billion - PT Astra International Tbk (ASII) - Rp90.8 billion - PT Indo Tambangraya Megah Tbk (ITMG) - Rp81.6 billion - PT Merdeka Copper Gold Tbk (MDKA) - Rp70.4 billion - PT Bukit Asam (Persero) Tbk (PTBA) - Rp52.9 billion - PT Bumi Resources Tbk (BUMI) - Rp42.3 billion - PT United Tractors Tbk (UNTR) - Rp40.1 billion - PT Bank Mandiri Tbk (BMRI) - Rp28.4 billion - PT Film Indonesia Tbk (FILM) - Rp26.9 billion - PT Bangun Kosambi Sukses Tbk (CBDK) - Rp17.2 billion The entry of foreign funds into several of these shares occurred amid the rebound in the Jakarta Composite Index (IHSG), which closed up 133.48 points or 1.76% at 7,710.54. In that session, 625 stocks advanced, 134 declined, and 199 were unchanged. However, turnover was Rp17.43 trillion, lower than the Rp29.59 trillion recorded in the previous session. Overall, foreign investors booked purchases of Rp5.87 trillion and sales of Rp6.08 trillion, leaving a net sell of Rp210 billion in the domestic stock market.