Foreign Net Selling Slows Ahead of MSCI Index Changes Effective Late May 2026, Top Stocks Face Heavy Selling
Jakarta, CNBC Indonesia - Foreign net selling in Indonesia’s stock market has slowed ahead of the MSCI index changes effective at the end of May 2026. During the trading week of 18-22 May 2026, foreign investors recorded net selling of Rp809.1 billion in the regular market.
This figure is lower compared to previous periods which saw foreign capital outflows in the trillions of rupiah.
For comparison, during 27-30 April 2026, foreign capital outflows reached approximately Rp5.5 trillion in the regular market.
In the week of 4-8 May 2026, foreign net selling was recorded at around Rp2.4 trillion in the regular market, rising to Rp3.2 trillion for the 11-13 May period.
According to exchange data, PT Bank Central Asia Tbk (BBCA) was the most heavily sold stock by foreigners, with net selling of Rp1.03 trillion, followed by PT Amman Mineral Internasional Tbk (AMMN) at Rp624 billion and PT Aneka Tambang Tbk (ANTM) at Rp589.1 billion.
Additionally, PT Barito Renewables Energy Tbk (BREN) recorded net selling of Rp516.6 billion, followed by PT Chandra Asri Pacific Tbk (TPIA) at Rp438.7 billion and PT Dian Swastatika Sentosa Tbk (DSSA) at Rp398.9 billion.
The top stocks with the highest foreign net selling on 18-22 May 2026 were:
PT Bank Central Asia Tbk (BBCA): Rp1.03 trillion
PT Amman Mineral Internasional Tbk (AMMN): Rp624 billion
PT Aneka Tambang (Persero) Tbk (ANTM): Rp589.1 billion
PT Barito Renewables Energy Tbk (BREN): Rp516.6 billion
PT Chandra Asri Pacific Tbk (TPIA): Rp438.7 billion
PT Dian Swastatika Sentosa Tbk (DSSA): Rp398.9 billion
PT Bank Rakyat Indonesia Tbk (BBRI): Rp397.3 billion
PT Telkom Indonesia Tbk (TLKM): Rp314.2 billion
PT Petrindo Jaya Kreasi Tbk (CUAN): Rp262.7 billion
PT Astra International Tbk (ASII): Rp225.2 billion
Meanwhile, the Jakarta Composite Index (IHSG) fell 8.35% during the 18-22 May 2026 trading week to 6,162.045, making it one of the worst-performing indices in Asia and ASEAN over the past week.
According to Indonesia Stock Exchange (BEI) data, market capitalisation also shrank 10.07% to Rp10.635 trillion from Rp11.825 trillion.
Conglomerate stocks linked to Prajogo Pangestu were the main drag on the IHSG last week. PT Chandra Asri Pacific Tbk (TPIA) plunged 53.49% to become the index’s biggest laggard with a negative contribution of 47.55 points, followed by PT Dian Swastatika Sentosa Tbk (DSSA), which fell 47.34%, and PT Barito Renewables Energy Tbk (BREN), which dropped 23.44%.
Conversely, average daily trading value rose 15.68% to Rp21.77 trillion, though trading frequency decreased 6.5% to 2.36 million transactions.