Foreign investors actually still recorded massive net selling activity in the Indonesian stock market throughout the May 4-8, 2026 trading period. Although data from the Indonesia Stock Exchange (IDX) showed a net foreign buy of Rp12.265 trillion, the figure was mainly supported by special transactions related to corporate actions involving PT Mitra Adiperkasa Tbk (MAPI) and PT Pinago Utama Tbk (PNGO).

If the jumbo transactions in those two stocks are excluded, foreign investors were in fact recorded as posting a net sell of around Rp2.4 trillion in the regular market during the past week.

The largest foreign selling pressure occurred in major banking stocks. PT Bank Mandiri (Persero) Tbk (BMRI) became the stock with the highest net foreign sell value, reaching Rp1.628 trillion.

Apart from BMRI, foreign investors were also actively selling shares of PT Bank Central Asia Tbk (BBCA), with total sales amounting to Rp501.5 billion.

The following are the 10 stocks with the largest net foreign sell during the past week:

1. PT Bank Mandiri (Persero) Tbk (BMRI) - Rp1.628 trillion
2. PT Bank Central Asia Tbk (BBCA) - Rp501.5 billion
3. PT Bumi Resources Tbk (BUMI) - Rp195.7 billion
4. PT Petrosea Tbk (PTRO) - Rp188.5 billion
5. PT Petrindo Jaya Kreasi Tbk (CUAN) - Rp179.6 billion
6. PT Merdeka Gold Resources Tbk (EMAS) - Rp170.5 billion
7. PT GoTo Gojek Tokopedia Tbk (GOTO) - Rp168.1 billion
8. PT Amman Mineral Internasional Tbk (AMMN) - Rp160.8 billion
9. PT Dian Swastatika Sentosa Tbk (DSSA) - Rp132.7 billion
10. PT Kalbe Farma Tbk (KLBF) - Rp120.9 billion

Meanwhile, the Composite Stock Price Index (IHSG) still managed to close slightly higher throughout last week’s trading amid market volatility and foreign selling pressure on several big-cap stocks.

According to data from the Indonesia Stock Exchange (IDX), the IHSG rose 0.18% during the May 4-8, 2026 period, climbing from 6,956.80 to 6,969.39. During the week, the index moved within a range of 6,921.60 and even reached a high of 7,207.07.

Although the IHSG’s gain was relatively limited, market transaction activity increased significantly alongside two corporate actions involving MAPI and PNGO shares. The average daily transaction value surged 26.14% to Rp23.05 trillion, while daily transaction volume climbed 23.57% to 45.85 billion shares.

From a sectoral perspective, the infrastructure sector posted the best performance after soaring 5% throughout the past week. Meanwhile, the financial sector also gained 1.97% in line with the rally in major banking stocks.