Foreign Investors Shift Strategy, Dump Commodity Big Caps and Scoop Up These Shares

Foreign investors displayed a portfolio rotation during trading on Monday (3/8/2026). Amid a net sell of Rp708 billion across the entire market, foreign funds flowed into a number of defensive shares, while commodity, basic material, and state-owned banking stocks became targets for disposal. Based on trading data from the Indonesia Stock Exchange (BEI), telecommunications share PT Telkom Indonesia Tbk. (TLKM) was the main target for foreign investors with a net buy value of Rp118.7 billion. The next positions were occupied by PT Bank Central Asia Tbk. (BBCA) at Rp78.3 billion, PT Gudang Garam Tbk. (GGRM) at Rp38.2 billion, PT Timah (Persero) Tbk. (TINS) at Rp30.5 billion, and PT Indofood CBP Sukses Makmur Tbk. (ICBP) at Rp28.7 billion. On the other hand, foreign investors offloaded a number of large-capitalisation shares. PT Chandra Asri Pacific Tbk. (TPIA) became the share with the largest net sell, valued at Rp191.9 billion, followed by PT Amman Mineral Internasional Tbk. (AMMN) at Rp91.1 billion, PT Bank Mandiri (Persero) Tbk. (BMRI) at Rp88.4 billion, PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI) at Rp62.2 billion, and PT Astra International Tbk. (ASII) at Rp53.3 billion. This movement indicates a shift of foreign funds from shares that are more sensitive to the economic cycle towards shares considered more defensive. The Jakarta Composite Index (IHSG) closed slightly weaker by 0.03% at the level of 6,234.49 in yesterday’s trading. The index’s decline occurred amid a transaction value of Rp14.38 trillion, with shares such as BREN, DCII, BBCA, BUVA, and MLPT being the main drags on the index movement.