IHSG Becomes Cheaper in 6 Months, These Shares Are Hunted by Foreigners
Foreign investors still recorded a net sell of Rp2.73 trillion in the regular market throughout 29 June to 3 July 2026. However, behind this heavy outflow of funds, global investors have begun hunting a number of commodity and energy shares as the valuation of the Indonesian stock market becomes increasingly cheaper compared to the beginning of the year.
This is reflected in the Market Price to Earnings Ratio (PER), which stood at 12.25 times at the end of the week, far lower than the 17.23 times recorded in mid-January 2026 when the IHSG breached the 9,000 level. Meanwhile, the Price to Book Value (PBV) fell to 1.56 times from 2.58 times, indicating that the valuation of the domestic stock market has experienced a significant decline over the last six months.
Amid these conditions, PT Aneka Tambang Tbk. (ANTM) became the share most collected by foreign investors with a net buy value of Rp131.5 billion, followed by PT Dian Swastatika Sentosa Tbk. (DSSA) at Rp115.5 billion and PT Energi Mega Persada Tbk. (ENRG) at Rp104.4 billion. In addition, foreign investors also snapped up PT Barito Pacific Tbk. (BRPT) worth Rp74.8 billion, PT Barito Renewables Energy Tbk. (BREN) at Rp65.3 billion, and PT Amman Mineral Internasional Tbk. (AMMN) at Rp64 billion.
The list of the 10 shares with the largest foreign net buy throughout 29 June-3 July 2026 includes: PT Aneka Tambang Tbk. (ANTM) at Rp131.5 billion, PT Dian Swastatika Sentosa Tbk. (DSSA) at Rp115.5 billion, PT Energi Mega Persada Tbk. (ENRG) at Rp104.4 billion, PT Barito Pacific Tbk. (BRPT) at Rp74.8 billion, PT Barito Renewables Energy Tbk. (BREN) at Rp65.3 billion, PT Amman Mineral Internasional Tbk. (AMMN) at Rp64 billion, PT Capital Financial Indonesia Tbk. (CASA) at Rp57.2 billion, PT Pacific Strategic Financial Tbk. (APIC) at Rp44.9 billion, PT Vale Indonesia Tbk. (INCO) at Rp41 billion, and PT MNC Digital Entertainment Tbk. (MSIN) at Rp40.8 billion.
On a weekly basis, the Composite Stock Price Index (IHSG) corrected by 0.35% to the level of 5,875.78, despite recording gains on three out of five trading days during the period. Trading activity also slowed, with the average daily transaction value dropping 35.9% to Rp11.27 trillion from Rp17.58 trillion in the previous week, while the average daily transaction volume fell 30.35% to 17.54 billion shares. In the quiet market, the trading ratio of foreign investors widened from 31% to 41%, with the transaction value of domestic investors reaching Rp66.07 trillion and foreign investors Rp46.62 trillion.