Foreign Investors Snap Up Bank Shares, Recording Net Buy of Rp 638.6 Billion

Foreign investors targeted banking stocks during trading on Friday, supporting a 1.10% rise in the Jakarta Composite Index (IHSG) to close at 6,175.53. Foreign investors recorded a net buy of Rp 638.6 billion across all markets. The foreign fund flow was concentrated in large-cap banking stocks. PT Bank Mandiri (Persero) Tbk. (BMRI) recorded a net buy of Rp 375.4 billion, followed by PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI) with Rp 267.7 billion. Meanwhile, PT Bank Central Asia Tbk. (BBCA) also recorded a foreign net buy of Rp 691.9 billion. Apart from the banking sector, shares of PT Telkom Indonesia (Persero) Tbk. (TLKM) were also on the foreign radar with a net buy of Rp 76.3 billion. On the other hand, foreign investors continued to sell a number of commodity-based and cyclical sector stocks. PT Darma Henwa Tbk. (DEWA) was the third-largest net sell stock at Rp 41 billion, followed by PT Amman Mineral Internasional Tbk. (AMMN) at Rp 34.4 billion, PT Bumi Resources Minerals Tbk. (BRMS) at Rp 30.9 billion, PT Petrosea Tbk. (PTRO) at Rp 26 billion, PT Perusahaan Gas Negara Tbk. (PGAS) at Rp 24.3 billion, and PT Merdeka Copper Gold Tbk. (MDKA) at Rp 23.1 billion. Selling action was also seen in other energy and conglomerate stocks such as PT Medco Energi Internasional Tbk. (MEDC), PT Indika Energy Tbk. (INDY), PT Barito Renewables Energy Tbk. (BREN), PT Chandra Asri Pacific Tbk. (TPIA), and PT Indo Tambangraya Megah Tbk. (ITMG). Nevertheless, the heavy flow of foreign funds into the banking sector was able to offset the selling pressure in other sectors, allowing the IHSG to end the day in positive territory. The index’s strengthening was also supported by a rise in 363 stocks, while 274 stocks weakened and 328 stocks closed unchanged. The total transaction value across all markets reached Rp 16.32 trillion, with a trading volume of 24.04 billion shares.