This is a Row of Shares Bought up by Foreigners During the Russia-Ukraine War

The anxiety of market participants in recent weeks finally happened, Russia invaded Ukraine last Thursday. The global stock market immediately collapsed yesterday, including the Indonesia Stock Exchange (IDX) composite, which fell 1.5% yesterday. Interestingly, foreign investors are still buying up domestic shares. Yesterday, net buying was recorded at Rp821 trillion in the regular market. Plus the negotiable and cash market the total is Rp. 881 billion. Meanwhile, on Friday (25/2) it was even higher, Rp1.14 trillion in the regular market, while if you combine it in the negotiable and cash markets, the net buy was recorded at Rp1.07 trillion. The wholesale action helped JCI gain more than 1% to 6,888,171 in today’s trading. Not only the last two days, this week foreign investors have always recorded a net buy of a total of Rp4.55 trillion.

When the invasion occurred yesterday, most foreign investors bought up shares of PT Bank Negara Indonesia Tbk. (BBNI) worth Rp282.3 billion. Then followed by PT Bank Central Asia Tbk. (BBCA) worth Rp203.8 billion. The third to fifth place is occupied by PT MNC Studios International Tbk. (MSIN) of Rp95.4 billion, PT Vale Indonesia Tbk (INCO) of Rp87 billion, and PT Gudang Garam Tbk. (GGRM) of Rp81.1 billion. Meanwhile, the net bought of PT Bank Jago Tbk. (ARTO) yesterday was recorded at Rp67.2 billion, and today is the most purchased. In the last two days, ARTO’s net buy was Rp895.8 billion. This makes ARTO the most sought-after stock since the Russo-Ukrainian war broke out. BBNI is in the runner-up position, the total net buy in 2 days is IDR 320.4 billion. In third place is PT Bank Rakyat Indonesia Tbk. BBRI amounted to Rp302.5 billion.

Feb 25, 2022, CNBC Indonesia