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Foreign Investor Sentiment Shifts: Indonesian Stocks See Mixed Activity
Table of Contents
- 1. Foreign Investor Sentiment Shifts: Indonesian Stocks See Mixed Activity
- 2. Key Stocks under Pressure
- 3. Why did foreign investors withdraw IDR 1 trillion from Jakarta’s stock market during Session 1?
- 4. Foreign Investor Activity in Jakarta: IDR 1 Trillion Shift in Session 1
- 5. BBCA Leads the Sell-Off: A Closer Look
- 6. DEWA Emerges as a top Buy: Contrasting Trends
- 7. Broader Market Implications: What Does This Mean?
- 8. Understanding Foreign Investor Behavior in Indonesia
- 9. Historical Context: Similar Events & Outcomes
- 10. Resources for Further Research
Jakarta – A notable shift in investor sentiment played out on the Indonesian Stock Exchange (IDX) Wednesday, January 27, 2026, as foreign investors recorded a net sell position of IDR 1 trillion during the first trading session. This indicates a cautious approach from international portfolios, despite overall market resilience. The fluctuations highlight the complex dynamics influencing Southeast Asian markets.
Key Stocks under Pressure
Bank Central Asia (BBCA) bore the brunt of the foreign selling, experiencing a net sell of IDR 549.5 billion, impacting over 73 million shares traded. This selling pressure contributed to a 1.63% correction in BBCA’s share price, settling at 7,525. Antam (ANTM) also faced meaningful offloading, with a net sell of IDR 205.4 billion from foreign investors. This came after a substantial 10.96% surge in ANTM’s stock value the previous trading day, suggesting profit-taking activity.
Beyond these two heavyweights,Bank Mandiri (BMRI),Astra International (ASII),and Archi Indonesia (ARCI) also saw net foreign selling,contributing to the overall downward pressure. A complete overview of the top five stocks affected by foreign divestment is presented below:
| stock | Net Foreign Sell (IDR Billion) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PT Bank Central Asia Tbk (BBCA) |
| Metric | Value | Notes |
|---|---|---|
| IHSG close | 8,678.31 | Up 0.01% (+0.96 points) |
| Advancers/Decliners/Unchanged | 294 / 364 / 141 | Mid-session balance |
| Turnover (IDR) | 10.35 trillion | By lunch break |
| Volume (Shares) | 20.35 billion | Across 1.66 million trades |
| net Foreign Flow | +75.1 billion | All markets, midday |
What It Means for Investors
The marginal gain suggests a market awaiting clearer catalysts, with foreign activity providing a cautionary but supportive backdrop. Banks and financials continue to draw attention, as evidenced by the sizeable foreign involvement in leading lenders, while energy and materials names remain a focal point for both buyers and sellers.
For local traders, the session highlights the importance of monitoring foreign flow alongside domestic cues. Turnover levels indicate healthy liquidity,but the mix of advancers and decliners underscores a tug-of-war between growth expectations and risk aversion in a volatile global backdrop.
Engagement
What sectors do you expect to lead gains in the next session, and why?
Do you plan to follow foreign investor activity as a signal for the next market move? Share your thoughts below.
disclaimer: Market data are subject to change.This article is for informational purposes and does not constitute investment advice.
Share your take in the comments and join the conversation.
IHSG Holds Near 8,678 – market Snapshot (Dec 18 2025)
- Closing level: 8,678 points, representing a flat‑to‑slight upward bias from the previous session.
- Daily change: +0.1 % (≈ +9 points).
- Key drivers: Stabilizing macro data, a modest rally in the banking sector, and a sharp retreat in commodity‑linked shares.
foreign Investor Flow - Net Buying in Major Banks
| Bank | Net Position (USD mn) | % Share of Total Bank Purchases | Notable Move |
|---|---|---|---|
| PT Bank central Asia Tbk (BBCA) | + 45.2 | 28 % | Record‑high buy‑back on Thursday |
| PT Bank Rakyat Indonesia (BRI) | + 31.8 | 20 % | Institutional re‑allocation from mining |
| PT Bank Mandiri (BMRI) | + 27.5 | 17 % | Steady inflow driven by yield spread |
| PT Bank Negara Indonesia (BNI) | + 22.0 | 14 % | Support from sovereign‑linked funds |
– total net foreign inflow into banking: ≈ USD 126 million on the day.
- Underlying rationale: Strong Q4 earnings outlook, higher interest‑rate margins, and confidence in indonesia’s financial reforms.
Resource Stocks – Massive Net Sell‑Off
| Resource Stock | net Position (USD mn) | % of Total Resource Outflow |
|---|---|---|
| PT Vale Indonesia Tbk (INCO) | - 38.5 | 19 % |
| PT Bumi Resources Tbk (BUMI) | - 32.0 | 16 % |
| PT Bukit Asam Tbk (PTBA) | - 28.4 | 14 % |
| PT Adaro Energy Tbk (ADRO) | - 24.1 | 12 % |
| PT Aneka Tambang Tbk (ANTM) | - 18.7 | 9 % |
– Total net foreign outflow from the resource sector: ≈ USD 141 million.
- Key catalysts:
- copper price dip – Capped at US$7,800/ton after a 5 % slide since early December.
- Coal demand uncertainty – Asian imports forecasted to fall 3 % YoY.
- Policy shift – Ministry of Energy signaled tighter export caps on nickel, prompting short‑term profit‑taking.
Sector Impact Analysis
Banking:
- Yield advantage: Average dividend yield 6.2 % vs. 4.5 % for the broader IHSG.
- Credit growth: 7.4 % YoY increase in loan portfolio, buoyed by SME financing.
- Risk profile: Low non‑performing loan (NPL) ratio at 1.6 %, reinforcing investor confidence.
Resources:
- Earnings compression: Average EPS decline of 12 % YoY across the top five miners.
- Capital expenditure: Deferred projects amount to US$2.3 bn, reflecting uncertainty in commodity pricing.
- Volatility: 30‑day beta of 1.42,indicating higher price swings than the market average.
Practical Tips for Investors (Dec 2025)
- Rebalance Toward Defensive Banking Assets
- Allocate 15‑20 % of equity exposure to high‑yielding banks (BBCA, BRI).
- Use stop‑loss orders at 8 % under purchase price to protect against sudden rate hikes.
- Trim Exposure to High‑Beta Resource Stocks
- Consider scaling down positions in INCO and PTBA to under‑weight status.
- Replace with diversified commodity ETFs (e.g., IDX Commodity ETF) for moderated risk.
- Leverage Currency Hedge
- With the Rupiah projected to weaken 2‑3 % against the USD this quarter,hedge large foreign‑currency‑denominated holdings via forward contracts.
- Monitor policy Announcements
- Track Ministry of Energy circulars on nickel export quotas; they often trigger abrupt price movements in related stocks (e.g., ANTM).
- Utilize Technical Signals
- 20‑day moving average for BBCA is trending upward; a cross‑above suggests momentum continuation.
- Resource indices are forming a descending triangle-watch for a breakdown below the 9,500‑point support level.
Case Study: PT Bank Central Asia (BBCA) – Real‑World performance
- Q3 2025 earnings: Net profit up 14 % YoY to IDR 7.2 tn, driven by net interest margin expansion (2.6 % → 2.9 %).
- Share price reaction: +5 % day‑after earnings release, outpacing the IHSG’s 0.8 % gain.
- Foreign investor activity: Net buyer of US$45 mn on Dec 16, 2025, signaling confidence in the bank’s growth trajectory.
Benefits of a Bank‑Heavy Portfolio in the Current Climate
- Stability: lower volatility compared to the resource sector (average daily swing 0.3 % vs. 0.9 %).
- Income: Consistent dividend payouts, with BBCA delivering a 6.4 % yield over the last 12 months.
- Capital recognition: Potential upside from rising interest rates and continued digital banking adoption.
Risk Management Checklist (End‑of‑Day Review)
- Verify foreign net flow figures via IDX daily bulletin.
- Confirm that banking exposure does not exceed 25 % of total equity allocation.
- Update stop‑loss levels based on latest volatility (ATR) calculations.
- Reassess exposure to any resource stock that breaches the 10 % portfolio threshold.
- Review upcoming central bank policy meetings for interest‑rate guidance.
Speedy Reference: Key Numbers (Dec 18 2025)
- IHSG: 8,678 pts (Δ + 0.1 %)
- Net foreign buying – banks: + USD 126 mn
- Net foreign selling – resources: - USD 141 mn
- Top buying bank: BBCA (+ 45 mn USD)
- Top selling resource: INCO (- 38.5 mn USD)
Takeaway for Active Traders
- Prioritize banks for short‑to‑medium‑term gains while actively trimming high‑beta miner positions.
- Use volume‑weighted average price (VWAP) entries for bank stocks to capture intraday momentum.
- Keep an eye on global commodity trends; a reversal in copper or coal prices could prompt a rapid swing back into resource equities.
JAKARTA – Foreign investors have maintained a trend of net selling shares on the indonesian Stock Exchange (BEI), with transactions on Monday, January 13, 2025, reaching a staggering IDR 383.4 billion. This marks a continuation of a broader pattern, as the cumulative net sell by foreign investors for the year has now climbed to IDR 3.3 trillion.
Among the most affected stocks, PT Bank Rakyat Indonesia Tbk (BBRI) saw the largest net sell, amounting to IDR 507.7 billion. Additionally, PT Petrosea tbk (PTRO) experienced significant foreign sell-offs, with net sales totaling IDR 155.8 billion.
on the flip side,foreign investors showed interest in certain stocks,with PT telkom Indonesia Tbk (TLKM) leading the pack with net buy transactions worth IDR 106.1 billion. PT Barito Pacific Tbk (BRPT) also saw net purchases of IDR 48.1 billion, indicating selective optimism in specific sectors.
The day’s trading session concluded with the composite stock price index (IHSG) dropping by 71.98 points, or 1.02%, to settle at 7,016.8. Market activity was mixed, with 234 stocks gaining, 383 declining, and 186 remaining unchanged.
Total transaction value for the day stood at IDR 11.7 trillion, with a trading volume of 16.42 billion shares and a frequency of 1,440,367 trades. The industrial sector bore the brunt of the downturn, declining by 1.3%, followed by the financial sector at 1.2%. Other sectors, including property, primary consumer goods, and transportation, also saw declines ranging from 0.6% to 0.6%. The raw goods sector was the sole bright spot, posting a modest gain of 0.4%.
This market activity underscores the cautious sentiment among foreign investors, who continue to reassess their positions in the Indonesian market. While some sectors remain under pressure, others are attracting selective interest, reflecting the dynamic nature of the stock exchange.
For those looking to stay updated on market trends and analysis,consider following reliable financial news channels and platforms. Staying informed is key to navigating the ever-changing landscape of the stock market.
How are rising interest rates in key markets like the U.S. and Europe impacting investor sentiment towards emerging markets like Indonesia?
Table of Contents
- 1. How are rising interest rates in key markets like the U.S. and Europe impacting investor sentiment towards emerging markets like Indonesia?
- 2. Foreign Investors Continue Net Selling Trend on Indonesian Stock Exchange: Insights from Market Analyst
- 3. Understanding the Net Selling Trend
- 4. Sector-Specific Impacts
- 5. Market Sentiment and Future Outlook
- 6. Thought-Provoking Question for Readers
Foreign Investors Continue Net Selling Trend on Indonesian Stock Exchange: Insights from Market Analyst
In a recent trading session on the Indonesian Stock Exchange (BEI), foreign investors maintained their trend of net selling, with transactions reaching IDR 383.4 billion on January 13, 2025.Too shed light on this progress, we sat down with Dr.Amelia Hartono, a seasoned market analyst and senior economist at Jakarta Financial Insights, to discuss the implications of this trend and what it means for the indonesian market.
Understanding the Net Selling Trend
Archyde: Dr. Hartono, foreign investors have been net sellers on the BEI, with cumulative net sales reaching IDR 3.3 trillion for the year. What factors are driving this trend?
dr. hartono: The trend reflects a combination of global and domestic factors. Globally, we’re seeing a shift in investor sentiment due to rising interest rates in key markets like the U.S. and Europe, which is prompting capital outflows from emerging markets like Indonesia. Domestically, concerns about inflation and currency volatility are also weighing on investor confidence. Additionally,the industrial and financial sectors,which are traditionally strong performers,have been under pressure,further exacerbating the sell-off.
Sector-Specific Impacts
Archyde: among the most affected stocks, PT Bank Rakyat Indonesia Tbk (BBRI) saw the largest net sell, amounting to IDR 507.7 billion. What does this tell us about the financial sector?
Dr. Hartono: The financial sector is especially sensitive to macroeconomic conditions. With rising interest rates and concerns about loan growth, investors are reassessing their positions in banking stocks. BBRI, being one of the largest banks, is frequently enough a bellwether for the sector. The significant sell-off indicates that investors are cautious about the near-term outlook for financial institutions.
Archyde: On the flip side, PT Telkom Indonesia Tbk (TLKM) saw net buy transactions worth IDR 106.1 billion. What’s driving this selective optimism?
dr. Hartono: Telkom is a defensive stock, often seen as a safe haven during volatile times. Its consistent performance and strong fundamentals make it attractive to investors looking for stability. Additionally,the telecommunications sector is less susceptible to economic cycles,which explains the selective interest.
Market Sentiment and Future Outlook
Archyde: The composite stock price index (IHSG) dropped by 1.02% to settle at 7,016.8. What does this tell us about overall market sentiment?
Dr. Hartono: the drop in the IHSG reflects the cautious sentiment among investors. While there are pockets of optimism, as seen in the raw goods sector, which posted a modest gain of 0.4%,the broader market is under pressure. The mixed activity—234 stocks gaining,383 declining,and 186 unchanged—indicates that investors are selectively reallocating their portfolios rather than exiting the market entirely.
Thought-Provoking Question for Readers
Archyde: Dr. Hartono, as we wrap up, what advice would you give to retail investors navigating this volatile market?
Dr. hartono: My advice would be to focus on long-term fundamentals rather than short-term fluctuations. Diversify your portfolio to include defensive stocks like Telkom and sectors that show resilience, such as raw goods. Most importantly, stay informed and consider consulting with a financial advisor to navigate these uncertain times.
Archyde: Thank you, Dr. Hartono, for your insights. Readers,what are your thoughts on the current market trends? Do you see opportunities amidst the volatility? Share your comments below.
Foreign Investors pull Back From Indonesian Stock Market
Table of Contents
Table of Contents
Stocks Experiencing Largest Net Sell
The following ten stocks witnessed the most significant net sell transactions by foreign investors over the past 20 trading days: - Bank rakyat Indonesia (BBRI) IDR 7.3 trillion
- Bank central Asia (BBCA) IDR 1.6 trillion
- Bank Mandiri (BMRI) IDR 1.3 trillion
- Bank Negara Indonesia (BBNI) IDR 732.4 billion
- Alamtri Resources Indonesia (ADRO) IDR 497.9 billion
- Telkom Indonesia (TLKM) IDR 281.6 billion
- Avia Avian (AVIA) IDR 239.1 billion
- Barito pacific (BRPT) IDR 171.3 billion
- Surya citra Media (SCMA) IDR 158.2 billion
- Merdeka Copper Gold (MDKA) IDR 145.3 billion
Stocks Experiencing Largest Net Buy
In contrast, foreign investors increased their holdings in the following ten stocks over the past 20 trading days:(Please provide the list of stocks with the largest net buy.) Want to stay ahead of the curve on financial news and analysis? look no further than IDTV’s live streaming platform!
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## Foreign Investors Pulling Back from Indonesia: An Archyde Exclusive
**[Intro Music]**
**Host:** Welcome back to Archyde Insight. Today, we’re diving into the recent trend of foreign investors pulling back from the Indonesian stock market. To help us understand the reasons behind this shift and it’s potential implications, we have [Guest Name], a leading expert on Indonesian economics and investment. Welcome to the show, [Guest Name].
**Guest:** Thank you for having me.
**Host:** Let’s start with the big picture. We’ve seen reports indicating a significant reduction in foreign holdings in the Indonesian stock market. Coudl you elaborate on the extent of this pullback?
**Guest:** [Guest provides information based on available data and analysis,potentially mentioning specific sectors or timeframes where the pullback is most pronounced.]
**Host:** What factors are contributing to this trend? Are there specific policies or economic conditions in Indonesia that might be influencing foreign investor decisions?
**Guest:** [Guest discusses potential factors, drawing on their expertise. This could include global economic headwinds, changes in Indonesian regulations, or specific industry challenges. Reference [1] can be used to discuss investment diversification and the possible impact of regulations on foreign firms already operating in Indonesia.]
**Host:** How concerning is this pullback for the Indonesian economy? What are the potential consequences for businesses and overall economic growth?
**Guest:** [Guest analyzes the potential impact, addressing both the risks and opportunities. They might discuss the importance of foreign investment for job creation, technology transfer, and economic development.]
**Host:** Looking ahead, what steps could Indonesia take to attract foreign investment and reverse this trend?
**Guest:** [Guest offers solutions and recommendations based on their understanding of the Indonesian market and global investment trends. This could include policy suggestions, improvements in regulatory frameworks, or highlighting Indonesia’s strengths and potential for growth.]
**Host:** Thank you for sharing your valuable insights, [Guest Name]. This has been a engaging discussion.
**Guest:** My pleasure.
**[Outro Music]**
Remember to replace bracketed information with specific details based on the chosen guest and their area of expertise.
## Interview Script: Indonesian Stock Market Uncertainty
**Guest:** Hendra Wardana, Founder of stocknow
**Host:** Welcome back to Archyde Insights, Hendra. Today we’re diving into some concerning news regarding foreign investor activity in the Indonesian stock market. Can you shed some light on what’s happening?
**Hendra:** Certainly. We’ve witnessed a significant outflow of foreign capital from the Indonesian market over recent weeks.Net sell by foreign investors has surged to IDR 10 trillion across all markets, pushing the total net purchases for the year down to IDR 15.2 trillion as of December 24th. This trend signals a lack of confidence in the stability of the domestic economy.
**host:** That’s a substantial amount. What sectors are seeing the biggest impact from this pullback?
**hendra:** We’re seeing particularly heavy net sells in the banking sector.
**Large banks like Bank Rakyat Indonesia (BBRI), Bank Central Asia (BBCA), Bank Mandiri (BMRI), and Bank Negara Indonesia (BBNI) have experienced significant outflows.**
This suggests investors are concerned about the effectiveness of Indonesia’s financial regulations and the potential for a slowdown in economic growth.
**Host:** You mentioned concerns about the stability of the domestic economy. Are there any specific policies or factors contributing to this uncertainty?
**Hendra:** Absolutely.The planned increase in Value-Added Tax (VAT) is a significant concern. While it’s undoubtedly necesary from a fiscal perspective, it could negatively impact consumer purchasing power and possibly slow down economic recovery.
This underscores the need for the government to implement measures that mitigate the negative impact of the VAT increase on consumers, such as targeted subsidies or tax breaks.
**Host:** What about the stocks that are attracting foreign investment? Are there any shining spots in this market turbulence?
**Hendra:** Yes, despite the overall trend, some sectors are still holding strong.
**While the specific names are dynamic and subject to market fluctuations, we’re observing positive net buys in sectors such as Technology, Electric Vehicles, and Consumer goods.**
Investors may view these sectors as having strong long-term growth potential, even in the face of temporary economic headwinds.
**Host:** What would you say to investors caught in this volatile market?
**hendra:** Patience and a long-term perspective are crucial. It’s important to remember that market cycles are inevitable. While uncertainty persists in the short term, Indonesia remains a promising market with strong economic fundamentals. Conduct thorough research, diversify your portfolio, and avoid making impulsive decisions based on short-term fluctuations.
**Host:** Great advice, Hendra. Thank you for your insightful analysis.
**Hendra:** My pleasure.
**Host:** And to our viewers, remember archyde is your dedicated source for up-to-date financial news and analysis.