Indonesian Composite Index Experiences Sharp Reversal After Record High

Market Dynamics Shift Following All-Time High

The Indonesian Composite Index (IHSG) demonstrated significant intraday volatility on November 27, 2025, recording a new all-time high before ending the day 0.65% lower at 8,545.86. The index initially surged to 8,622.27, marking a fresh record peak before reversing course.

Foreign Investor Activity

Foreign investors recorded a net sell position of Rp 283.93 billion across all market segments. The selling activity was particularly pronounced in the regular market, where foreign investors net sold Rp 884.36 billion. However, this was partially offset by Rp 600.42 billion in net buying on the negotiation market.

Key Stocks Driving Foreign Activity

Foreign investors focused their buying on technology and industrial stocks, with significant purchases in:

• PT Mora Telematika Indonesia Tbk (MORA): Rp 480.1 billion net buy
• PT Petrindo Jaya Kreasi Tbk (CUAN): Rp 144.1 billion net buy
• PT Impack Pratama Industri Tbk (IMPC): Rp 139.5 billion net buy

Conversely, they showed significant selling pressure on:

• PT Bumi Resources Tbk (BUMI): Rp 659.5 billion net sell
• PT Bank Rakyat Indonesia Tbk (BBRI): Rp 304 billion net sell
• PT Bank Central Asia Tbk (BBCA): Rp 158 billion net sell

Market Implications

The IHSG's intraday volatility reflects the complex interplay between profit-taking and new investment opportunities in Indonesia's equity market. The significant foreign investor activity in both directions suggests continued interest in Indonesian assets, albeit with cautious positioning.