Foreign investors continued their selling activity in several large-cap stocks even though they still managed to record a net buy position in the regular market during Wednesday’s trading session (20/5/2026).

Based on exchange data, shares of PT Bank Central Asia Tbk (BBCA) recorded the largest foreign net sell value at Rp375.8 billion. This was followed by PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) with Rp221 billion and PT Chandra Asri Pacific Tbk (TPIA) amounting to Rp140.5 billion.

Foreign selling pressure also persisted in conglomerate and telecommunications stocks such as PT Amman Mineral Internasional Tbk (AMMN), PT Dian Swastatika Sentosa Tbk (DSSA), and PT Telkom Indonesia (Persero) Tbk (TLKM).

Below is the list of stocks with the largest foreign net sell values in the previous trading session:

• PT Bank Central Asia Tbk (BBCA) — Rp375.8 billion
• PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) — Rp221 billion
• PT Chandra Asri Pacific Tbk (TPIA) — Rp140.5 billion
• PT Amman Mineral Internasional Tbk (AMMN) — Rp123.8 billion
• PT Dian Swastatika Sentosa Tbk (DSSA) — Rp113.7 billion
• PT Telkom Indonesia (Persero) Tbk (TLKM) — Rp109.7 billion
• PT Astra International Tbk (ASII) — Rp100.7 billion
• PT Aneka Tambang (Persero) Tbk (ANTM) — Rp78.1 billion
• PT Barito Renewables Energy Tbk (BREN) — Rp70.8 billion
• PT Indofood Sukses Makmur Tbk (INDF) — Rp34.2 billion

Foreign investors were also seen actively selling conglomerate and first-layer commodity stocks. However, they continued to accumulate shares linked to energy and downstream industries such as PT Energi Mega Persada Tbk (ENRG), PT Merdeka Battery Materials Tbk (MBMA), PT Bumi Resources Minerals Tbk (BRMS), and PT Indika Energy Tbk (INDY).

Meanwhile, the Composite Stock Price Index (IHSG) moved very erratically during yesterday’s session, resembling a roller coaster. After fluctuating throughout intraday trading, the IHSG eventually closed down 0.82 percent at 6,318.50.

A total of 483 stocks declined, while only 208 advanced and 126 remained unchanged. Trading volume reached 41.13 billion shares, with transaction value totaling Rp22.36 trillion and trading frequency recorded at 2.47 million transactions.

Earlier in the morning, ahead of the speech by Indonesian President Prabowo Subianto at the Dewan Perwakilan Rakyat (DPR) building, the IHSG briefly reversed direction and surged around 1 percent to 6,430.97 after initially opening in negative territory.

The market reacted negatively to Prabowo’s speech announcing a single-gate export policy for Indonesia’s strategic natural resources, including coal and palm oil. Before suffering a sharp decline at the end of the first session, the IHSG had even plunged nearly 2.5 percent after Prabowo introduced the plan to establish a state-owned export agency.

Most sectors closed weaker, with infrastructure and basic materials contributing the largest declines, while the technology and financial sectors managed to post gains.