Foreign Investors Dump ASIIs, Reaching Rp1 Trillion in Sell-Offs

Shares of PT Astra International Tbk (ASII) continue to be offloaded by foreign investors as of today, Thursday (January 25, 2024).

Based on RTI Business data, ASII's net foreign sell (NFS) reached the highest level, namely Rp1 trillion, over the past week (January 18-25, 2024).

The volume of shares traded reached 645.7 million shares with a frequency of 116,840 times and a transaction value of Rp3.3 trillion.

Foreign investors have actually been selling ASII shares in large numbers since the beginning of this month, with Rp252.8 billion sold between January 3-9, 2024.

(See also: 10 Stocks Most Heavily Offloaded by Foreign Investors in Early 2024)

The sale of ASII shares is suspected to be a consequence of the entry of the BYD electric vehicle into Indonesia on January 18, 2024. Since then, the price of ASII shares has consistently fallen.

The second most heavily sold stock by foreign investors was PT Bank Rakyat Indonesia Tbk, amounting to Rp303.4 billion. The trading volume of the issuer with the code BBRI reached 400.1 million shares with a frequency of 58,000 times and a transaction value of Rp2.3 trillion.

Third place is still occupied by a bank issuer, namely Bank Negara Indonesia Tbk (BBNI) at Rp178.9 billion. The volume was 152 million shares with a frequency of 28,000 times and a transaction value of Rp830.6 billion.

Fourth and fifth place are filled by energy issuers, namely PT Petrindo Jaya Kreasi (CUAN) at Rp89.3 billion and PT Adaro Energy Indonesia (ADRO) at Rp82.3 billion.

Here is a complete list of the 10 stocks most heavily sold by foreign investors with the highest NFS during the week (January 18-25, 2024):

* PT Astra International Tbk (ASII): Rp1 trillion
* PT Bank Rakyat Indonesia Tbk (BBRI): Rp 303.4 billion
* PT Bank Negara Indonesia (BBNI): Rp178.9 billion
* PT Petrindo Jaya Kreasi (CUAN): Rp89.3 billion
* PT Adaro Energy Indonesia (ADRO): Rp82.3 billion
* PT Vale Indonesia Tbk (INCO): Rp71.3 billion
* PT Aneka Tambang Tbk (ANTM): Rp70.7 billion
* PT Kalbe Farma Tbk (KLBF): Rp65.5 billion
* PT Merdeka Copper Gold (MDKA): Rp64 billion
* PT Unilever Indonesia (UNVR): Rp58.3 billion

(See also: Astra Shares Plummet After BYD Enters Indonesian Market)