Foreign Net Buy Reaches Rp7.1 T Last Week, Have They Really Returned?

Foreign investors recorded a net buy of Rp7.10 trillion in the Indonesian stock market during the trading period of 27-31 July 2026, according to data from the Indonesia Stock Exchange (BEI). This marked a reversal from the previous week, which saw a net sell of Rp3.38 trillion. Throughout the week, foreign investors recorded purchases worth Rp29.78 trillion against sales of Rp22.67 trillion. However, the large net buy figure was influenced by a jumbo transaction of PT Mitra Adiperkasa Tbk (MAPI) shares worth approximately Rp9.33 trillion via the negotiation market. The transaction was executed at Rp1,550 per share, matching the mandatory tender offer (MTO) price for MAPI. Excluding this jumbo negotiation transaction, foreign investors actually still recorded a net sell of around Rp2 trillion in the regular market. This indicates that foreign fund flows in the regular market have not yet fully turned to accumulation, although selling pressure has eased compared to the previous week. The top 10 shares with the largest foreign net buys during the week were: PT Mitra Adiperkasa Tbk (MAPI) at Rp9.33 trillion, PT Bank Central Asia Tbk (BBCA) at Rp426.6 billion, PT KDB Tifa Finance Tbk (TIFA) at Rp277 billion, PT Timah (Persero) Tbk (TINS) at Rp243.9 billion, PT Barito Pacific Tbk (BRPT) at Rp106.8 billion, PT Merdeka Copper Gold Tbk (MDKA) at Rp92.6 billion, PT Vale Indonesia Tbk (INCO) at Rp79.6 billion, PT Citra Borneo Utama Tbk (BACH) at Rp68.5 billion, PT Erajaya Swasembada Tbk (ERAA) at Rp35.8 billion, and PT Gudang Garam Tbk (GGRM) at Rp35.7 billion. Meanwhile, the Jakarta Composite Index (IHSG) managed to end the week in positive territory, closing up 0.64% at 6,236.126 from the previous week’s 6,196.430. The index movement was quite volatile, touching a high of 6,236.615 but also correcting to 6,029.324. The IHSG’s rise was supported by several large-cap stocks, with PT Bank Rakyat Indonesia Tbk (BBRI) contributing the most at 11.68 points, followed by PT Barito Pacific Tbk (BRPT), PT Siloam International Hospitals Tbk (SRAJ), PT Bank Mandiri Tbk (BMRI), PT Astra International Tbk (ASII), and PT DCI Indonesia Tbk (DCII). Despite the IHSG strengthening, trading activity slowed, with the average daily transaction value falling 21.86% to Rp15.44 trillion from Rp19.76 trillion the previous week, and the average daily volume plunging 31.23% to 30.04 billion shares.