TPIA Remains Top Target for Foreign Selling Amid IHSG Rally

Jakarta, CNBC Indonesia — The Jakarta Composite Index (IHSG) climbed 1.37% in trading on Tuesday (4/8/2026), but this did not stop foreign investors from selling a number of petrochemical, energy and mining stocks.

Based on Indonesia Stock Exchange (IDX) data, PT Chandra Asri Pacific Tbk. (TPIA) recorded the largest foreign net sell at Rp206.6 billion. It was followed by PT Amman Mineral Internasional Tbk. (AMMN) at Rp83.6 billion, PT Merdeka Gold Resources Tbk. (EMAS) at Rp71.4 billion, and PT Astra International Tbk. (ASII) at Rp60.3 billion.

TPIA once again became the stock most heavily sold by foreign investors, having also topped the net sell list the previous day. This indicates that foreign distribution of the share is still continuing.

On the other hand, the IHSG closed 85.11 points or 1.37% higher at 6,319.61, driven by heavy foreign buying in major banking stocks such as BBCA, BMRI, BBRI and BBNI.

This shows foreign investors are still rotating their portfolios, reducing exposure to certain petrochemical, energy and mining shares while increasing their holdings in the banking sector, which served as the main pillar of the index’s gains.

The following are the ten stocks with the largest foreign net sells yesterday:

• PT Chandra Asri Pacific Tbk. (TPIA) - Rp206.6 billion

• PT Amman Mineral Internasional Tbk. (AMMN) - Rp83.6 billion

• PT Merdeka Gold Resources Tbk. (EMAS) - Rp71.4 billion

• PT Astra International Tbk. (ASII) - Rp60.3 billion

• PT MAP Aktif Adiperkasa Tbk. (MAPA) - Rp45.8 billion

• PT Medco Energi Internasional Tbk. (MEDC) - Rp34.3 billion

• PT Perusahaan Gas Negara Tbk. (PGAS) - Rp22.4 billion

• PT Aneka Tambang (Persero) Tbk. (ANTM) - Rp20.6 billion

• PT Pabrik Kertas Tjiwi Kimia Tbk. (TKIM) - Rp20.5 billion

• PT Bach Multi Global Tbk. (BACH) - Rp15.4 billion