Foreign Funds Shift Focus to Mid-Cap Indonesian Stocks, Led by BIPI Accumulation

Jakarta, Indonesia – February 25, 2026 – A notable shift in foreign investor strategy is underway in the Indonesian stock market, moving beyond large-cap banks towards higher-risk, mid-cap issuers. This trend was particularly evident in midday trading, with PT Astrindo Nusantara Infrastruktur Tbk (BIPI) experiencing the largest accumulation in volume.

Significant Accumulation in BIPI Shares

Foreign investors demonstrated strong interest in BIPI, acquiring 869.78 million shares while selling 486.96 million, resulting in a net purchase of 382.81 million shares – equivalent to 3,828,145 lots. This substantial activity positions BIPI as a key indicator of the changing risk appetite among global investors.

Broad-Based Accumulation Across Sectors

The accumulation wasn’t limited to BIPI. Other companies seeing significant foreign inflows included:

• PT Bank Rakyat Indonesia Tbk (BBRI): Net accumulation of 78.48 million shares (784,883 lots).
• PT Bukit Uluwatu Villa Tbk (BUVA): Net accumulation of 74.10 million shares (741,069 lots).
• PT Sentul City Tbk (BKSL): Net accumulation of 30.25 million shares (302,549 lots).
• PT Bakrie & Brothers Tbk (BNBR): Net accumulation of 29.63 million shares (296,328 lots).
• PT Bank Central Asia Tbk (BBCA): Net accumulation of 25.46 million shares (254,605.82 lots).
• PT AlamTri Resources Indonesia Tbk (ADRO): Net accumulation of 24.45 million shares (244,511 lots).
• PT Archi Indonesia Tbk (ARCI): Net accumulation of 13.13 million shares (131,384 lots).
• PT Adaro Minerals Indonesia Tbk (ADMR): Net accumulation of 10.94 million shares (109,486 lots).
• PT Timah Tbk (TINS): Net accumulation of 9.51 million shares (95,147 lots).
• PT Telkom Indonesia Tbk (TLKM): Net accumulation of 8.99 million shares (89,919.56 lots).
• PT Pakuwon Jati Tbk (PWON): Net accumulation of 9.51 million shares (95,083 lots).

The participation of established banking stocks like BCA and BRI underscores the continued importance of the banking sector as a safe haven for global funds seeking exposure to the Indonesian market. The inclusion of telecommunications (TLKM) and property (PWON) issuers suggests a broadening of interest into domestic consumption-based sectors.

Domestic Transactions Remain Dominant

While foreign purchases totaled IDR 6.32 trillion against sales of IDR 4.59 trillion, resulting in a positive difference of IDR 1.73 trillion, domestic transactions still represent the majority of market activity. Local investors accounted for IDR 22.41 trillion in transactions, representing 67.26% of the total trading value, with foreign investors contributing 32.74%.

Early Phase of Position Formation

Despite the midday accumulation, analysts caution that this movement may represent an initial phase of position formation rather than a complete trend reversal. The Indonesian stock market has experienced foreign fund outflows earlier in the year, suggesting that the current inflows could be a precursor to more consistent capital flows.

PT Astrindo Nusantara Infrastruktur Tbk (BIPI:IDX) is an investment holding company operating in coal mining infrastructure in Indonesia, with operations spanning coal mining, port services, and mining services. Founded in 2007, the company is based in Jakarta and led by President Director Raymond Anthony Gerungan. (Stock Analysis)

Disclaimer: The news or information presented discusses certain issuers or shares based on data available from the Indonesian Stock Exchange’s information disclosure and other reliable sources. This content is not intended as a solicitation to buy or sell any particular stock. Always conduct independent research and consult your investment decisions with a professional financial advisor. Make sure you understand the risks of every investment decision you make.