Foreign Investors Continued Selling Selected Indonesian Stocks Despite Weekly Market Gains

Indonesia's benchmark stock index delivered another positive week, with the Jakarta Composite Index (JCI) finishing at 5,924.36 after gaining 0.20% on Friday. Over the course of the week, the index advanced 0.83%, posting gains in four of five trading sessions.

Despite the stronger market performance, overseas investors remained net sellers. Between July 6 and July 10, foreign investors recorded approximately Rp18.46 trillion in purchases and Rp20.19 trillion in sales, resulting in a net outflow of Rp1.73 trillion from the Indonesian equity market.

Retail and Banking Stocks Led Foreign Outflows

According to trading data compiled by Indo Premier, PT Mitra Adiperkasa Tbk. (MAPI) experienced the largest foreign net selling during the week.

The ten most heavily sold stocks by foreign investors were:

• MAPI – Rp699.4 billion

• BBRI – Rp327.0 billion

• BSDE – Rp193.2 billion

• RLCO – Rp169.5 billion

• ASII – Rp145.4 billion

• TLKM – Rp133.8 billion

• BMRI – Rp114.6 billion

• AMMN – Rp104.7 billion

• MDKA – Rp80.5 billion

• DSSA – Rp77.5 billion

Portfolio Reallocation Appears to Continue

The list indicates that foreign investors reduced exposure across multiple sectors rather than concentrating on a single industry. Financial institutions, consumer-related companies, telecommunications, automotive businesses, and mining firms all appeared among the largest net-sell names.

Large-cap banking stocks such as BBRI and BMRI, together with blue-chip companies including ASII and TLKM, continued to face selling pressure, while mining companies AMMN, MDKA, and DSSA also recorded significant foreign outflows.

Net Selling Does Not Necessarily Reflect Weak Fundamentals

Foreign portfolio movements are often influenced by broader global asset allocation strategies, profit-taking, or changes in investment risk appetite rather than company-specific fundamentals alone.

For that reason, investors generally combine foreign flow analysis with corporate earnings, valuation metrics, and macroeconomic developments before making investment decisions.

Disclaimer: This article is intended solely for informational purposes and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any particular security.