Foreign investors continued their aggressive selling streak in the Indonesian stock market throughout the trading week of May 25–29, 2026. Despite this persistent selling pressure, large-cap banking stocks and companies linked to tycoon Prajogo Pangestu remained the primary drivers of trading activity on the Indonesia Stock Exchange (IDX).
Data from the IDX reveals that foreign investors recorded a net sell of IDR 12.34 trillion for the week. This figure marks a significant surge compared to the previous week’s net sell of IDR 691.54 billion. On a year-to-date (YtD) basis, foreign net selling has now reached a substantial IDR 53.97 trillion. Amidst these capital outflows, the Jakarta Composite Index (JCI) closed the week down 0.56% to 6,127.381, retreating from the previous week’s close of 6,162.045.
Trading Activity Remains Robust Despite Market Correction
Interestingly, while the JCI faced downward pressure, overall trading activity saw a notable uptick. The average daily transaction value on the IDX climbed by 30.37% to IDR 28.38 trillion, up from IDR 21.77 trillion the prior week. Consequently, market capitalization grew by 0.88%, reaching a total of IDR 10,729 trillion.
However, the broader liquidity metrics showed a different trend. The average daily trading volume dipped by 15.6% to 30.95 billion shares, while the frequency of transactions fell by 10.87% to 2.11 million trades per day.
Key Market Movers: Banking and Prajogo Pangestu Stocks
Blue-chip stocks continued to dominate market attention. By total transaction value, PT Bank Central Asia Tbk (BBCA) emerged as the most active stock, accounting for IDR 9.66 trillion or roughly 11.35% of the week’s total trading value. Other heavyweights, including Amman Mineral Internasional (AMMN) at IDR 6.02 trillion, Chandra Asri Pacific (TPIA) at IDR 5.68 trillion, along with Bank Rakyat Indonesia (BBRI) and Bank Mandiri (BMRI), rounded out the top five most traded stocks.
In terms of transaction frequency, Chandra Asri Pacific (TPIA) led the pack with 255,000 transactions, closely followed by Barito Pacific (BRPT) with 252,000 trades and BBCA with 182,000 trades.
Shares associated with Prajogo Pangestu played a pivotal role in stabilizing the index. Barito Renewables Energy (BREN) surged by 34.69%, becoming a top gainer and contributing 31.36 points to the JCI’s performance. Barito Pacific (BRPT) and Petrindo Jaya Kreasi (CUAN) also saw strong gains, climbing 20.87% and 22.33% respectively, solidifying their positions as top leaders for the week.
Outlook on Market Sentiment
Kautsar Primadi Nurahmad, Corporate Secretary of the Indonesia Stock Exchange, noted that the week’s trading was characterized by mixed results—showing higher transaction values and market cap despite the JCI finishing in the red. While foreign sell-offs remain a significant point of concern for investors, the continued interest in large-cap stocks and major conglomerate entities suggests that domestic investors remain resilient, providing essential support to the market’s trading activity.
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Summary
Foreign investors recorded a significant net sell of IDR 12.34 trillion on the Indonesia Stock Exchange during the week of May 25–29, 2026, bringing the year-to-date total to IDR 53.97 trillion. Despite this heavy capital outflow and a 0.56% decline in the Jakarta Composite Index, the average daily transaction value rose by 30.37% to IDR 28.38 trillion. Market capitalization also saw a modest increase of 0.88%, reaching IDR 10,729 trillion.
Trading activity remained concentrated in large-cap banking stocks and companies linked to tycoon Prajogo Pangestu. PT Bank Central Asia Tbk (BBCA) emerged as the most actively traded stock, while companies like Barito Renewables Energy (BREN) and Chandra Asri Pacific (TPIA) experienced notable gains in price and transaction frequency. Analysts suggest that strong domestic investor participation continues to provide essential support to the market despite persistent foreign selling pressure.
