Foreign Investor Activity in Indonesian Banking Stocks: Mixed Sentiment Observed

Overview of Trading Activity (Nov 10-14, 2025)

Foreign investors demonstrated mixed sentiment in Indonesian banking stocks during the week of November 10-14, 2025. The trading activity revealed varying degrees of interest across major banking stocks.

Major Banking Stocks Performance

1. PT Bank Central Asia Tbk. (BBCA): Despite significant foreign buying of Rp3.39 trillion, the stock recorded a net foreign sell of Rp224.1 billion due to even higher selling activity amounting to Rp3.62 trillion. Total transaction value reached Rp3.51 trillion with 4.14 million lots traded.
2. PT Bank Mandiri (Persero) Tbk. (BMRI): Showed strong foreign investor interest with buying activity worth Rp2.21 trillion, resulting in a net foreign buy of Rp431.2 billion. Total transaction value was Rp2 trillion with 4.24 million lots traded.
3. PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI): Foreign investors bought Rp1.32 trillion worth of shares, but the stock still recorded a net foreign sell of Rp204.6 billion due to higher selling activity of Rp1.52 trillion. Total transaction value was Rp1.42 trillion with 3.63 million lots traded.
4. PT Bank Negara Indonesia (Persero) Tbk. (BBNI): Recorded foreign buying of Rp430.1 million, resulting in a net foreign buy of Rp110.4 billion. The stock was the only other major bank alongside BMRI to show positive net foreign investment.
5. Smaller Banks:
   • PT Bank Jago Tbk. (ARTO) experienced a net foreign sell of Rp33.9 billion
   • PT Bank Syariah Indonesia Tbk. (BRIS) recorded a net foreign sell of Rp6.8 billion
   • PT Bank Pan Indonesia Tbk. (PNBN) saw a net foreign sell of Rp20.1 billion

Market Implications

The mixed foreign investor sentiment across different banking stocks reflects varying perceptions of individual bank performances and broader market conditions. The significant buying activity in BMRI and BBNI suggests confidence in these state-owned banks, while the net selling in other major banks indicates more cautious investor stance.