IHSG Drops 3.31%, Foreign Investors Record Net Sell of IDR 2.91 Trillion

The Jakarta Composite Index (IHSG) tumbled by 214.85 points or 3.31%, closing at 6,270 on Friday (Feb 28). Investors recorded transactions worth IDR 20.55 trillion, with a total traded volume of 21.87 billion shares.

Over the past week, IHSG weakened in four trading sessions, with only one day of gains, leading to an overall decline of 7.83%.

Kautsar Primadi Nurahmad, Corporate Secretary of the Indonesia Stock Exchange (IDX), stated that stock trading showed mixed performance during the February 24-28, 2025 period. Market capitalization dropped by 7.68%, from IDR 11,786 trillion to IDR 10,880 trillion by the end of last week.

Despite this decline, the average daily transaction volume increased by 21.62% from 18.38 billion to 22.36 billion shares, while the average daily transaction value rose by 16.19% to IDR 13.69 trillion. However, the average daily trading frequency fell by 4.52% to 1.18 million transactions.

Foreign investors posted a net sell of IDR 2.91 trillion on Friday (Feb 28), bringing the total net sell for 2025 to IDR 21.90 trillion.

IHSG Projections for the Upcoming Week

Oktavianus Audi, Head of Customer Literation and Education at Kiwoom Sekuritas Indonesia, predicts that IHSG will face limited pressure this week, moving in a fluctuating but potentially weakening trend. The index is expected to trade within a support level of 6,070 and resistance at 6,450.

Several factors are influencing the market, including:

1. Domestic Inflation
   Investors are awaiting the release of Indonesia’s February 2025 inflation data, projected to grow by 0.5% year-on-year, lower than the previous month’s 0.76%. A continued deflationary trend could impact consumer purchasing power, particularly ahead of Ramadan.

2. Weakening Rupiah
   The rupiah’s depreciation against the US dollar remains a negative sentiment. Over the past week, capital outflows reached IDR 10.2 trillion across all trading sectors.

3. US Economic Data
   Global markets are closely watching the US employment data, with the unemployment rate expected to remain at 4%. If further economic weakness is confirmed, the Federal Reserve may consider easing its monetary policy.

4. US Tariff Policy
   Potential new tariffs by President Donald Trump add another layer of uncertainty, prompting investors to shift towards safer, low-risk assets.

Stock Recommendations

Several stocks recommended for collection this week include:

• Bank Mandiri (BMRI) – Projected to rise from 4,600 to 5,050
• Alfamart (AMRT) – Expected to climb from 2,200 to 2,480
• Avian Brands (AVIA) – Forecasted to increase from 364 to 390
• Cimory (CMRY) – Anticipated to rise from 4,560 to 4,850

Herditya Wicaksana, a technical analyst at MNC Sekuritas, also warns that IHSG may remain at risk of correction, with support at 6,210 and resistance at 6,500. Market movements will be influenced by Indonesia’s inflation report, China’s macroeconomic data, and US import tariff policies.

Additional recommended stocks include:

• Surya Esa Perkasa (ESSA) – Targeting an increase from 730 to 745
• Dharma Satya Nusantara (DSNG) – Expected to rise from 910 to 1,080
• Pertamina Geothermal Energy (PGEO) – Projected to climb from 875 to 960

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