Foreign Investors Yet to Return to Indonesia, Still Selling Shares Worth Rp2.3 Trillion
Foreign investors are still recording jumbo net selling actions in the Indonesian stock market throughout the trading period of 4-8 May 2026. Although data from the Indonesia Stock Exchange (BEI) shows a net foreign buy of Rp12.265 trillion, this figure was driven by special transactions related to corporate actions on shares of PT Mitra Adiperkasa Tbk (MAPI) and PT Pinago Utama Tbk (PNGO).
If the jumbo transactions in those two stocks are excluded, foreigners actually recorded a net sell of around Rp2.4 trillion in the regular market during the past week.
The largest foreign selling pressure occurred on jumbo banking stocks. PT Bank Mandiri (Persero) Tbk (BMRI) became the stock with the largest net foreign sell, reaching Rp1.628 trillion.
In addition to BMRI, foreign investors also heavily offloaded shares of PT Bank Central Asia Tbk (BBCA) worth Rp501.5 billion.
Here are the 10 stocks with the largest net foreign sells throughout the past week:
PT Bank Mandiri (Persero) Tbk (BMRI) - Rp1.628 trillion
PT Bank Central Asia Tbk (BBCA) - Rp501.5 billion
PT Bumi Resources Tbk (BUMI) - Rp195.7 billion
PT Petrosea Tbk (PTRO) - Rp188.5 billion
PT Petrindo Jaya Kreasi Tbk (CUAN) - Rp179.6 billion
PT Merdeka Gold Resources Tbk (EMAS) - Rp170.5 billion
PT GoTo Gojek Tokopedia Tbk (GOTO) - Rp168.1 billion
PT Amman Mineral Internasional Tbk (AMMN) - Rp160.8 billion
PT Dian Swastatika Sentosa Tbk (DSSA) - Rp132.7 billion
PT Kalbe Farma Tbk (KLBF) - Rp120.9 billion
Meanwhile, the Composite Stock Price Index (IHSG) managed to close with a slight gain throughout last week’s trading amid market volatility and foreign selling actions on several big cap stocks.
Based on data from the Indonesia Stock Exchange (BEI), the IHSG rose 0.18% over the period of 4-8 May 2026, from 6,956.80 to 6,969.39. Over the week, the IHSG moved in the range of 6,921.60 to a high of 7,207.07.
Although the IHSG’s gain was relatively limited, market transaction activity increased significantly in line with the two corporate actions in MAPI and PNGO stocks. The average daily transaction value jumped 26.14% to Rp23.05 trillion, while the daily transaction volume rose 23.57% to 45.85 billion shares.
On a sectoral basis, the infrastructure sector was the best performer after surging 5% throughout the past week. The financial sector also rose 1.97% in line with the rally in jumbo bank stocks.