Foreign net selling more than doubles to Rp759.98 billion, led by BBRI

Foreign selling rises as stocks retreat

The increase in net selling reflected both heavier sales and fewer purchases. Foreign investors sold Rp4.33 trillion on the regular market, compared with Rp3.98 trillion on Monday, while their purchases eased to Rp3.57 trillion from Rp3.61 trillion, according to IDNFinancials.

The Jakarta Composite Index (IHSG) finished at 4,904.2, a loss of 192.5 points, after reaching 4,895 during trading. Investor Daily described the intraday low as the index's lowest level since October 2020.

Declines extended across all 11 sectors, with basic materials recording the steepest fall at 6%. Katadata, citing Indonesia Stock Exchange data, reported that 624 stocks fell, 57 rose and 37 were unchanged.

Across all markets, cumulative net foreign selling for the year reached Rp98.6 trillion by Tuesday's close, according to exchange data cited by Investor Daily.

BBRI and ANTM lead regular-market outflows

BBRI topped the regular-market net selling rankings with Rp310.1 billion and a net volume of 110 million shares sold. Its shares fell 5.6% to Rp2,660, according to Investor Daily.

Aneka Tambang (ANTM) ranked second as foreign investors sold a net Rp94.1 billion, representing 37.19 million shares. Investor Daily reported that the stock dropped 6.9% to Rp2,400.

Next was Bumi Resources (BUMI), with almost Rp64.1 billion in net selling and a net volume of 510 million shares. Chandra Asia Pacific (TPIA) followed at Rp62.4 billion and 46.90 million shares, while Timah (TINS) recorded Rp33.7 billion and approximately 9.57 million shares in net selling.

Bank Mandiri leads net purchases

Bank Mandiri (BMRI), previously among the leading net-sold stocks, moved to the top of the regular-market net buying rankings. Foreign investors bought a net Rp74.1 billion, or 20.39 million shares.

Bank Syariah Indonesia (BRIS) was second with net purchases of Rp48 billion and 46.78 million shares. Astra International (ASII) followed with Rp46.2 billion and almost 10 million shares.

Bank Negara Indonesia (BBNI) attracted Rp40.3 billion in net buying, with a net volume of approximately 12.70 million shares. Adaro Andalan Indonesia (AADI) completed the top five at Rp36.1 billion and about 3.47 million shares.

MSCI review and policy meeting draw attention

BRI Danareksa Sekuritas attributed some of Tuesday's selling to positioning before MSCI's November 11–12, 2026, Index Review, Jakarta Globe reported. The review could alter which stocks are included in the index and their respective weightings.

The brokerage also said investors were awaiting the November 3 meeting of Indonesia's Financial System Stability Committee (KSSK). The meeting was expected to cover capital-market volatility, weakness in the rupiah and broader financial-system stability.

Among external factors, BRI Danareksa Sekuritas pointed to swings in oil prices. On Monday, hopes for US–Iran peace talks through Qatari mediation accompanied a 7.6% decline in Brent crude to $104.77 a barrel and a 7.3% fall in WTI to $96.46. Oil prices recovered to around $105 a barrel on Tuesday after reports of US strikes on Iran's Qeshm Island.

The brokerage also cited China's October manufacturing Purchasing Managers' Index, which registered 52 against a market consensus of 51.6.