Gotrade News - Indonesia's benchmark IHSG closed 0.32% lower at 7,106 on Monday (April 27). Foreign investors recorded net selling of Rp 2.04 trillion (about $130 million) across the broader market.
Five large-cap names absorbed the majority of foreign outflows in yesterday's session. The pattern leaves IHSG vulnerable to further correction in Tuesday trading.
Key Takeaways:
- Foreign net selling reached Rp 2.04 trillion, concentrated in BBCA, BMRI, and BBRI on the bank side.
- MNC Sekuritas projects the nearest correction zone at 7,022-7,092 with key support at 7,022.
- Foreign buying flowed into commodity names ARCI and EMAS, signaling a sectoral rotation in progress.
Bank Central Asia (BBCA) saw the largest foreign net sell at Rp 896 billion, followed by Bank Mandiri (BMRI) at Rp 679 billion. Bank Rakyat Indonesia (BBRI) absorbed Rp 200 billion in foreign outflows.
Aneka Tambang (ANTM) and Astra International (ASII) recorded Rp 92 billion and Rp 68 billion in foreign selling respectively. BBCA closed down 1.24% at Rp 5,975 while BMRI corrected 2.22% to Rp 4,400.
Astra International posted the steepest decline among large caps, falling 3.16% to Rp 6,125. Selling pressure persisted from open through close in that name.
MNC Sekuritas projects IHSG to remain vulnerable with a near-term test of 7,022-7,092. Key support sits at 7,022 and 6,917 with resistance at 7,313 and 7,484.
Four names anchor the brokerage's watchlist for Tuesday: ARCI, MIDI, MINA, and TINS. ARCI gained 5.66% to Rp 1,680 with a buy-on-weakness recommendation between Rp 1,625-1,660 targeting Rp 1,720-1,780.
On the buy side, Merdeka Gold Resources (EMAS) attracted Rp 86 billion in foreign net buying with Vale Indonesia (INCO) drawing Rp 60 billion. The pattern shows foreign capital rotating from banks into gold and nickel commodity names.
For international investors watching Indonesia, the combination of bank-led outflows and a tight technical band warrants disciplined sizing. Commodity-linked equities present a sectoral alternative as bank pressure continues.
