Foreigners take away 578 billion IDR, take from these 3 stocks

Jakarta, CNBC Indonesia – The Indonesian stock market closed yesterday’s trading, losing nearly 1%. The Composite Stock Price Index (IHSG) fell 0.98% or 65.77 points to 6,622.5.

Investors were recorded to have made net sales of IDR 515.37 billion across all markets. In the regular market, foreign funds from the stock market or net foreign sales reached Rp 578.92 billion. Meanwhile, in the traded market, foreigners recorded net purchases or net purchases of IDR 63.55 billion.

During trading on January 10, 2023, foreigners left large bank shares, PT Bank Central Asia Tbk (BBCA) Rp. 225.34 billion, PT Bank Rakyat Indonesia Tbk (BBRI) Rp. 209.01 billion and PT Bank Mandiri Tbk (BMRI) IDR 188.13 billion.

Mandiri Sekuritas, Head of Equity Research and Strategy, Adrian Joezer, said foreigners are currently taking profits from large-cap bank issuers. This is because the increase in share prices and profits at these issuers is relatively high.

“It has outperformed. (Weakening of bank shares) due to profit taking by foreign investors,” he said at a news conference at Mandiri Tower, Jakarta on Tuesday (10/1).

However, Indonesia’s large-cap banking stocks are still interesting to collect. However, foreign investors tend to be selective because their share price performance is already high. “Bank shares are still selective. This year they are even more selective,” she said.

[Gambas:Video CNBC]