PT Bank Central Asia Tbk (BBCA) has emerged as the most heavily offloaded stock by foreign investors since the beginning of this week. Market data shows that the private bank, owned by the Djarum Group, recorded a net foreign sell of IDR 3.14 trillion during the period of September 1–3, 2025.

Foreign investors sold BBCA shares with a total value of IDR 5.22 trillion, while purchases only reached IDR 2.08 trillion. The average selling price was IDR 7,917, compared to an average purchase price of IDR 7,946.

The heaviest foreign selling pressure on BBCA occurred on Monday (September 1, 2025), when the stock recorded a net sell of IDR 1.6 trillion. On that day, BBCA shares plunged to 7,600 before closing down 0.93% at 8,000.

This wave of foreign selling in BBCA over the past three trading days has further widened its year-to-date net foreign sell position. As of now, BBCA has solidified its status as the most sold stock by foreign investors with a cumulative net sell of IDR 23.27 trillion.

At the same time, the downtrend in BBCA shares this year remains unbroken. Since the start of the year, its price has dropped 19.44%, with the lowest closing level recorded at IDR 7,775.

BBCA’s performance stands in stark contrast to the Jakarta Composite Index (JCI), which has instead risen by 10.09% year-to-date. The index even reached an all-time closing high of 7,952.09 on August 28, 2025.

For reference, the ultimate beneficial owners of BBCA are Robert Budi Hartono and Bambang Hartono. The two control BBCA through PT Dwimuria Investama, which holds a 54.94% stake.

In addition, both Robert and Bambang also directly hold BBCA shares, each with a portion of 0.02%.