IHSG Edges Up in Opening Session as Foreign Traders Step In
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Jakarta, Dec 18, 2025 – Indonesia’s benchmark stock index finished teh first trading session in positive territory, nudging higher by 0.01% to 8,678.31. The move came as foreign investors resumed buying, helping to lift sentiment in the session.
In the midday snapshot, the market registered 294 gainers, 364 decliners, and 141 stocks that did not move. Turnover by lunch reached IDR 10.35 trillion, with 20.35 billion shares changing hands across 1.66 million trades.
Foreign participation during the session showed a net inflow of IDR 75.1 billion across all markets. Breaking this down, purchases totaled about IDR 2.6 trillion while sales reached IDR 2.5 trillion, signaling a cautious but constructive stance from overseas investors.
Stocks Most Favored by foreign Buyers
- PT Bank Mandiri (Persero) Tbk (BMRI) – IDR 278.7 billion
- PT Bank Central Asia Tbk (BBCA) – IDR 145.1 billion
- PT Nusantara Sejahtera Sejati tbk (NSSS) – IDR 36.4 billion
- PT Bank Negara Indonesia (Persero) Tbk (BBNI) – IDR 28.7 billion
- PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) – IDR 24.0 billion
- PT Aneka Tambang Tbk (ANTM) – IDR 21.4 billion
- PT Bank Tabungan Negara (Persero) Tbk (BBTN) – IDR 20.2 billion
- PT Vale Indonesia tbk (INCO) – IDR 19.8 billion
- PT Astra International Tbk (ASII) – IDR 16.0 billion
- PT Merdeka Gold Resources Tbk (EMAS) – IDR 15.8 billion
Stocks Under pressure From Foreign Sellers
- PT Bumi Resources tbk (BUMI) – IDR 74.3 billion
- PT Buana Lintas Lautan Tbk (BUVA) – IDR 47.1 billion
- PT Amman Mineral internasional Tbk (AMMN) – IDR 46.9 billion
- PT Timah Tbk (TINS) – IDR 44.1 billion
- PT Darma Henwa Tbk (DEWA) – IDR 41.1 billion
- PT Adaro Energy Indonesia Tbk (ADRO) – IDR 34.2 billion
- PT Energi Mega Persada tbk (ENRG) – IDR 23.1 billion
- PT Adaro Minerals indonesia Tbk (ADMR) – IDR 21.9 billion
- PT Rukun Raharja Tbk (RAJA) – IDR 19.9 billion
- PT Telkom Indonesia (Persero) Tbk (TLKM) – IDR 16.0 billion
Key Snapshot
| 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.
