Indonesia's IHSG slips 0.35% as foreign investors sell, then edges higher

During the week of 29 June – 3 July 2026, Indonesia’s main stock index (IHSG) fell 0.35 percent to 5,875.78, with market capitalisation slipping to about Rp 10.29 trillion. Foreign investors recorded a net sell of roughly Rp 2.7‑2.9 trillion, pressuring large‑cap stocks such as Bank Rakyat Indonesia (BBRI) and Bank Central Asia (BBCA). Domestic factors such as a contracting PMI (46.9) and rising inflation (3.34 % YoY) added to the cautious sentiment, while analysts noted that the index’s weakness was driven more by fundamentals than political narratives.

Despite the sell‑off, foreign investors targeted cheaper commodity and energy shares. PT Aneka Tambang (ANTM) led foreign net purchases with Rp 131.5 billion, followed by Dian Swastatika Sentosa (DSSA), Energi Mega Persada (ENRG) and several Barito‑group stocks. The market’s valuation ratios fell – PER to 12.25× and PBV to 1.56× – making stocks appear more attractive.

The index later recovered, closing at 5,916 on 6 July after a 0.69 percent gain, buoyed by gains in sectors such as energy, consumer cyclicals and technology. Over 400 stocks rose, while 259 fell. Analysts forecast that IHSG could test resistance around 5,900‑6,000 if regional Asian markets remain supportive.