JCI Rebounds 0.7% to 6,450 Despite IDR264 Billion in Foreign Selling

Indonesia’s equity market staged a solid first-session recovery on Thursday after suffering a sharp decline a day earlier.

The Jakarta Composite Index gained 44.59 points, or 0.70%, to 6,450.28 by the midday break on August 27, 2026. It had started the day lower at around 6,390 and briefly dropped to 6,376.65 before recovering to an intraday high of 6,456.75.

The rebound is notable because foreign investors were still net sellers.

IDNFinancials reported approximately IDR264.31 billion in net foreign selling during the first session.

That creates an important contrast: Indonesian equities advanced even while international money remained a net source of selling pressure.

A Rebound After Wednesday’s Sharp Drop

Thursday’s performance followed a difficult previous session.

The JCI fell 1.48% to 6,405.69 on Wednesday, pressured by large-cap names including BBRI, BRPT and AMMN.

The first-session recovery therefore represents a partial reversal rather than a fresh breakout from an established uptrend.

The index also moved close to the resistance zone identified by BRI Danareksa before trading began.

The brokerage had placed resistance around 6,455–6,550, with support near 6,340–6,300.

With the JCI reaching 6,456.75 during the morning, the market has already tested the lower end of that resistance area.

Market Breadth Was Strong

The rebound extended beyond a small number of index heavyweights.

IDNFinancials recorded 446 advancing stocks, 145 decliners and 169 unchanged securities at the end of the first session.

Trading volume reached approximately 18.22 billion shares, while turnover totaled around IDR6.38 trillion.

Katadata reported the same approximate volume and turnover figures, together with around 1.05 million transactions.

Some market feeds published different breadth counts during the session, illustrating why intraday figures should always be tied to a specific timestamp and provider.

Every Sector Was Reported Higher

IDNFinancials reported all IDX sector indices in positive territory at midday, led by consumer cyclicals with a gain of around 2.19%.

Katadata similarly reported that all sectors were in the green.

That marks a sharp reversal from Wednesday, when all 11 sectors finished lower.

A broad sector recovery generally provides a stronger foundation for an index rebound than a rally concentrated entirely in one or two large-cap names.

Foreign Investors Were Selling BBRI and GOTO

Foreign flows remained selective.

BBRI saw the largest first-session foreign net selling at approximately IDR145.98 billion.

It was followed by:

GOTO at IDR127.57 billion, TLKM at IDR67.21 billion, BBNI at IDR24.94 billion, and TPIA at IDR24.87 billion.

BBRI itself traded around IDR3,120 at midday, slightly lower on the day.

Large selling in one of Indonesia’s biggest index constituents helps explain why financial-sector gains were relatively restrained despite the broader market recovery.

BRMS Led Selective Foreign Buying

International investors were not selling everything.

BRMS attracted the largest reported foreign net purchase at approximately IDR28.42 billion.

Other foreign buying included TINS at IDR21.18 billion, ICBP at IDR11.42 billion, INET at IDR11.37 billion and PSAB at IDR10.56 billion.

BRMS traded around IDR750, up roughly 4.17% during the session.

This is why a headline “foreign investors are leaving Indonesia” would be too simplistic.

The more accurate description is that foreign investors were net sellers overall while rotating into selected stocks.

Domestic Demand Helped Offset Foreign Selling

A rising JCI alongside foreign net selling is entirely possible.

Indonesia’s domestic investor base can absorb international selling, while gains in large-cap or heavily weighted shares can still push the benchmark higher.

Foreign flows are therefore only one part of the market equation.

They are useful for understanding institutional positioning, but they do not mechanically determine the direction of the index.

Thursday’s session is a clear example.

Asian Markets Provided a Mixed but Generally Supportive Backdrop

Regional markets were mixed during Thursday trading.

FactSet data showed South Korea’s KOSPI up roughly 1.5%, Shanghai around 0.6% higher and Thailand’s SET index up about 0.5%.

Hong Kong’s Hang Seng was down around 0.42%, while Japan’s Nikkei was close to flat.

The regional picture was therefore not uniformly bullish, but several major Asian markets were providing a constructive backdrop.

Global Rates Remain a Risk

US markets closed slightly lower overnight.

The Dow Jones fell 0.21%, the S&P 500 slipped 0.02% and the Nasdaq Composite declined 0.08%.

More importantly, US PCE inflation for July remained elevated at 3.7% year on year, above the 3.6% market expectation, according to BRI Danareksa.

Persistent US inflation can keep Federal Reserve rate expectations volatile.

For Indonesia, that matters because higher US yields can pressure the rupiah and encourage capital to move away from emerging markets.

The Afternoon Session Still Matters

The JCI’s first-session result is not the day’s final outcome.

At 6,450.28, the benchmark is already approaching a technical resistance area identified by analysts.

Whether it can stay above 6,400—and potentially break firmly above 6,455—will determine whether Thursday’s rebound becomes more convincing.

If buying momentum fades, investors could still take profits during the second session.

Bottom Line

Indonesia’s JCI rebounded strongly in the first session on August 27, rising 0.70% to 6,450.28 after a 1.48% decline the previous day.

The recovery was broad, with most shares and all sectors higher according to IDNFinancials.

Yet foreign investors remained net sellers to the tune of IDR264.31 billion, led by selling in BBRI, GOTO and TLKM.

The session therefore tells a more interesting story than a simple market rebound:

Indonesian equities were strong enough to rise even while foreign money remained a net seller..

Disclaimer: This material is informational only and does not constitute personalised investment advice or a recommendation to buy or sell securities.