Foreign investors continued their net selling streak in the domestic stock market throughout the trading week of May 25–29, 2026. Despite this significant selling pressure, shares of major banks and issuers owned by conglomerate Prajogo Pangestu remained central to transaction activity on the Indonesia Stock Exchange (IDX).
Data from the IDX revealed that foreign investors booked a substantial net sell of IDR 12.34 trillion during the week. This figure marks a significant surge compared to the previous week’s net sell of IDR 691.54 billion, indicating an intensifying foreign capital outflow. Cumulatively, from the start of the year (year-to-date), foreign investors have recorded a net sell of IDR 53.97 trillion. Amidst this robust outflow of foreign funds, the Jakarta Composite Index (IHSG) closed down 0.56% at 6,127.381 on Friday, May 29, falling from its previous week’s position of 6,162.045.
Interestingly, even as the IHSG corrected, overall transaction activity on the exchange saw an increase. The average daily transaction value on the IDX climbed by 30.37% to IDR 28.38 trillion, up from IDR 21.77 trillion in the preceding week. Market capitalization also saw a modest rise of 0.88%, reaching IDR 10,729 trillion, signaling underlying market resilience despite foreign selling.
However, liquidity metrics presented a mixed picture. The average daily transaction volume decreased by 15.6% to 30.95 billion shares. Similarly, transaction frequency also dropped by 10.87%, settling at 2.11 million transactions per day, suggesting fewer, but larger, individual transactions took place.
Several large-cap stocks continued to attract market participants’ attention. Based on transaction value, shares of PT Bank Central Asia Tbk (BBCA) were the most actively traded, with a total trading value reaching IDR 9.66 trillion, accounting for approximately 11.35% of the week’s total transactions. Following closely were Amman Mineral Internasional (AMMN) with IDR 6.02 trillion and Chandra Asri Pacific (TPIA) at IDR 5.68 trillion. Other prominent banking shares, including Bank Rakyat Indonesia (BBRI) and Bank Mandiri (BMRI), also secured positions among the top five highest-value transactions this week.
In terms of transaction frequency, Chandra Asri Pacific (TPIA) led the pack with 255 thousand transactions, followed by Barito Pacific (BRPT) with 252 thousand transactions, and BBCA with 182 thousand transactions, highlighting robust retail and institutional interest in these specific counters.
The performance of shares within Prajogo Pangestu’s conglomerate group was a significant factor in supporting the index throughout the week. The IDX recorded that Barito Renewables Energy (BREN) surged by 34.69%, emerging as one of the top gainers and contributing the largest boost to the IHSG, adding 31.36 points. Beyond BREN, Barito Pacific (BRPT) strengthened by 20.87%, while Petrindo Jaya Kreasi (CUAN) climbed by 22.33% over the week. These three stocks collectively stood out as the top leaders of the IHSG during this period, underscoring their influence.
Kautsar Primadi Nurahmad, Corporate Secretary of the Indonesia Stock Exchange, noted that stock trading during the week showed varied movements, with increases in average transaction value and market capitalization, despite the IHSG closing in negative territory. Foreign selling pressure remains a key sentiment monitored by investors, especially given the continuous outflow of foreign funds from the Indonesian stock market throughout the year. Nevertheless, the uptick in transactions involving large-cap stocks and conglomerate-owned issuers demonstrates that domestic investor interest remains sufficiently strong to underpin trading activity and provide a degree of stability to the market.
Summary
Foreign investors recorded a significant net sell of IDR 12.34 trillion on the Indonesia Stock Exchange between May 25 and May 29, 2026, marking a sharp increase in capital outflows compared to the previous week. This intensified selling pressure contributed to a 0.56% decline in the Jakarta Composite Index (IHSG), which closed at 6,127.381. Despite the index dip, the market showed resilience with a 30.37% rise in average daily transaction value and a 0.88% increase in total market capitalization.
Transaction activity remained focused on major banking stocks like BBCA and companies within the Prajogo Pangestu conglomerate, such as TPIA and BREN. While foreign divestment remains a primary concern for market stability, the strong participation of domestic investors in large-cap stocks helped sustain trading momentum. Notably, BREN emerged as a significant market driver, surging by 34.69% and providing crucial support to the index amidst broader foreign selling.