JAKARTA – The Jakarta Composite Index (IHSG) experienced a significant downturn in the past trading week, recording a four-day losing streak that highlighted prevailing market anxieties. This sustained slump was primarily driven by a confluence of negative sentiments across various market segments.
According to data from the Indonesia Stock Exchange (BEI), the IHSG plummeted by 1.98%, shedding a substantial 135.57 points to close at 6,723.32 on Wednesday, May 13, 2026. This marked the final trading day before a long public holiday, potentially intensifying the impact of the sell-off. Key factors weighing heavily on the index included the ongoing MSCI rebalancing and a notable weakening of the rupiah currency against major counterparts.
The cumulative decline for the IHSG over the last trading week reached a significant 5.2%. This broad weakness was mirrored across the BEI’s sectoral indices, with most experiencing considerable pressure during Wednesday’s trading session. The raw materials sector bore the brunt of the sell-off, diving 4.43%, followed by infrastructure with a 2.72% drop, and energy down 1.61%. Non-primary consumer goods also fell by 1.40%, health by 1.22%, and technology by 0.71%.
The negative momentum extended to other sectors as well, with property and real estate declining by 0.70%, finance by 0.58%, and primary consumer goods by 0.44%. Amidst this widespread retreat, foreign investors registered a net sell of Rp 1.53 trillion across all markets on Wednesday, significantly contributing to the downward pressure on Indonesian stocks.
Despite the substantial daily foreign sell-off on Wednesday, a broader look at the past week reveals a contrasting trend: foreign investors still booked a significant net buy of Rp 9.17 trillion across all markets. This highlights a complex interplay of investor sentiment and capital flows. However, certain stocks experienced notable divestment by foreign investors during this period. Below is a detailed list of the top 10 stocks that faced the largest foreign net sell over the past week:
- PT Bank Mandiri Tbk (BMRI)
Rp 1.46 trillion - PT Dian Swastatika Sentosa Tbk (DSSA)
Rp 358.91 billion - PT Petrindo Jaya Kreasi Tbk (CUAN)
Rp 332.52 billion - PT Barito Pacific Tbk (BRPT)
Rp 277.99 billion - PT Bumi Resources Tbk (BUMI)
Rp 275.99 billion - PT Bank Central Asia Tbk (BBCA)
Rp 274.02 billion - PT Amman Mineral Internasional Tbk (AMMN)
Rp 193.19 billion - PT Aneka Tambang Tbk (ANTM)
Rp 180.23 billion - PT Barito Renewables Energy Tbk (BREN)
Rp 139.08 billion - PT Chandra Asri Pacific Tbk (TPIA)
Rp 137.77 billion
Summary
The Jakarta Composite Index (IHSG) experienced a significant downturn in the past trading week, recording a 5.2% cumulative decline, including a 1.98% drop to 6,723.32 on Wednesday. This slump was primarily driven by negative market sentiments, MSCI rebalancing, and a weakening rupiah. Most sectoral indices also mirrored this weakness, with raw materials, infrastructure, and energy sectors recording the steepest declines.
Foreign investors contributed to the downward pressure with a net sell of Rp 1.53 trillion on Wednesday. While foreign investors booked an overall net buy of Rp 9.17 trillion over the entire week, several top stocks faced heavy foreign divestment. PT Bank Mandiri Tbk (BMRI) recorded the largest foreign net sell at Rp 1.46 trillion, followed by PT Dian Swastatika Sentosa Tbk (DSSA) and PT Petrindo Jaya Kreasi Tbk (CUAN).