Foreign Investors Shift Strategy in Indonesian Stock Market
Jakarta – A notable shift in foreign investor activity on the Indonesia Stock Exchange (IDX) occurred on Wednesday, March 4, 2026, with a move from net selling to net buying. This change in sentiment comes after a net sell position of 385.32 million shares on Tuesday, March 3, 2026, followed by a net buy of 849.77 million shares on Wednesday [1]. Overall transaction volume involving foreign investors increased during this period.
Sectoral Trends: Energy and Beyond
The energy and natural resources sector saw significant activity, with several key stocks experiencing net foreign selling during the first trading session on Thursday, March 5, 2026. PT Bumi Resources Tbk (BUMI) led the list with a net foreign sell of 258,014,300 shares, totaling 472,622,300 shares sold against 214,608,000 shares purchased.
PT Darma Henwa Tbk (DEWA) followed with a net foreign sell of 47,375,500 shares (71,080,600 shares sold versus 23,705,100 shares bought). PT MBMA also experienced selling pressure, with a net sell of 42,439,400 shares (63,545,200 shares sold and 21,105,800 shares bought). PT Cuan Prima Investasi Tbk (CUAN) recorded a net foreign sell of 34,967,800 shares, while PT Barito Renewables Energy Tbk (BRMS) saw a net sell of 24,580,000 shares.
Other energy stocks on the list included PT Medco Energi Internasional Tbk (MEDC), PT Adaro Energy Indonesia Tbk (ADRO) and PT ESSA Sentosa Tbk (ESSA), all experiencing net foreign selling.
Beyond the energy sector, stocks like PT Open Data Nusantara Tbk (OPEN), PT Humasindo Raya Tbk (HUMI), and PT Sinergi Inti Andalan Prima Tbk (INET) also faced foreign selling pressure.
Brokers Lead Trading Volume
Stockbit Sekuritas Digital (XL) recorded the highest transaction value on March 5, 2026, at approximately IDR 2.88 trillion. UBS Sekuritas Indonesia (AK) followed with around IDR 2.4 trillion, and Mandiri Sekuritas (CC) with approximately IDR 2.03 trillion [1].
Global brokers and large institutions also contributed significantly to trading activity, including Mirae Asset Sekuritas Indonesia (YP) with IDR 1.41 trillion, Maybank Sekuritas Indonesia (ZP) with IDR 995.6 billion, and Indo Premier Sekuritas (PD) with IDR 918.7 billion. Semesta Indovest Sekuritas (MG), JP Morgan Sekuritas Indonesia (BK), Ajaib Sekuritas Asia (XC), and KB Valbury Sekuritas (CP) also recorded substantial transaction values.
Recent Market Trends
Recent data indicates strong foreign capital inflow into the Indonesian stock market, with the Jakarta Composite Index (IHSG) reaching a record high of 8,125 in September 2025 [2]. Net foreign purchases reached IDR 5.54 trillion on September 23, 2025. However, it’s important to note that despite overall net buying, certain stocks have experienced simultaneous selling pressure from foreign investors, including PT Impack Pratama Industri Tbk (IMPC) and PT Bumi Resources Tbk (BUMI) [3].