JCI Surges as Foreign Investors Exit Certain Stocks
Amidst a heavy influx of foreign capital into the Indonesian stock market, not all stocks are being targeted by global investors. Several stocks have instead become targets of selling pressure, with PT GoTo Gojek Tokopedia Tbk (GOTO) recording the largest net sell.
Foreign investors recorded a net buy of Rp2.03 trillion during yesterday’s trading, Tuesday (1/9/2026). Total foreign transactions reached Rp11.88 trillion, comprising buys of Rp6.95 trillion and sells of Rp4.93 trillion.
Based on trading data from Tuesday (1/9/2026), foreign investors recorded a net sell in GOTO of Rp152.5 billion. This figure represents the largest divestment among stocks released by foreign investors during yesterday’s session.
In second place was PT DMS Propertindo Tbk (KOTA) with a net sell of Rp92.7 billion, followed by PT Indosat Tbk (ISAT) with net sales of Rp84 billion.
Gold and mining stocks were also not immune to foreign selling. PT Merdeka Gold Resources Tbk (EMAS) recorded a net sell of Rp64.1 billion, followed by PT Bumi Resources Minerals Tbk (BRMS) at Rp40 billion and PT Indo Tambangraya Megah Tbk (ITMG) at Rp39.5 billion.
The following stocks saw the highest volume of foreign selling on Tuesday:
PT GoTo Gojek Tokopis Tbk (GOTO) - Rp152.5 billion
PT DMS Propertindo Tbk (KOTA) - Rp92.7 billion
PT Indosat Tbk (ISAT) - Rp84 billion
PT Merdeka Gold Resources Tbk (EMAS) - Rp64.1 billion
PT Bumi Resources Minerals Tbk (BRMS) - Rp40 billion
PT Indo Tambangraya Megah Tbk (ITMG) - Rp39.5 billion
PT Dian Swastatika Sentosa Tbk (DSSA) - Rp18.3 billion
PT Amman Mineral Internasional Tbk (AMMN) - Rp16 billion
PT AKR Corporindo Tbk (AKRA) - Rp15.8 billion
PT Aneka Tambang (Persero) Tbk (ANTM) - Rp12.5 billion
Despite several stocks being targets for selling, this pressure was unable to stem the momentum of the JCI. The index closed up 1.14% at the 6,599.94 level, approaching the psychological threshold of 6,600.
Foreign funds exiting stocks such as GOTO and ISAT have flowed heavily into large-cap stocks, particularly in the banking sector. For instance, BBRI became the stock with the largest foreign net buy, reaching Rp841 billion, followed by BBCA at Rp435.4 billion and BMRI at Rp172.3 billion.