Foreign Investors Reverse Course, Net Sell Reaches Rp3.37 Trillion in a Week

Foreign investors returned to selling shares on the Indonesia Stock Exchange (BEI) during the trading week of 20-24 July 2026. Net foreign sell recorded reached Rp3.38 trillion, reversing direction from the previous week which still recorded a net buy of Rp442.05 billion. This foreign share disposal occurred even though the Jakarta Composite Index (IHSG) actually closed slightly higher, up 0.34% at 6,196.43 at the end of the week, from the previous week’s position of 6,175.54. Throughout the week, the IHSG touched a high of 6,454.31 and a low of 6,159.15. Major bank and blue-chip stocks were the primary targets of the foreign sell-off. PT Bank Mandiri (Persero) Tbk (BMRI) became the main target of foreign selling with a net value reaching Rp854.7 billion. In the next position was PT Astra International Tbk (ASII), which was offloaded for Rp497.2 billion, followed by PT Bank Central Asia Tbk (BBCA) worth Rp310.5 billion. The IHSG closed up 0.34% for the week with the market bustling again. The daily average share volume rose 66.88% to 43.68 billion and the daily average transaction value rose 41.5% to Rp19.76 trillion. Behind the IHSG’s slight 0.34% gain during the week of 20-24 July 2026, market conditions were actually not yet fully solid. Based on Indonesia Stock Exchange (BEI) data, by number of shares, 385 issuers weakened, more than the 351 shares that strengthened, while 229 shares closed stagnant. Viewed from market capitalisation, around 54% of market capitalisation also came from shares that corrected, while shares that strengthened only represented 40%. This condition indicates that the IHSG’s gain was largely supported by increases in certain shares, while selling pressure still occurred on most shares, particularly large-capitalisation shares.