JAKARTA — Indonesia’s equity tape flashed another soft open Friday, even as the Finance Ministry kept pointing to a much larger story in bonds and Bank Indonesia paper. By the first-session close, the Indeks Harga Saham Gabungan (IHSG) was down 22.69 points, or 0.35%, at 6,439.74, with turnover about Rp7.49 trillion, according to CNBC Indonesia reporting carried by Headtopics.
Foreign investors booked a Rp1.14 trillion net sell in session one — Rp1.32 trillion bought versus Rp2.46 trillion sold — though part of that print sat beside a jumbo negotiated deal in PT Bank Ina Perdana Tbk (BINA) of roughly Rp738 billion near Rp4,100 a share (about 180 million shares), the same report said. On the regular market, foreign net selling was led by Bank Central Asia (BBCA) at about Rp222.05 billion and Bank Mandiri (BMRI) at about Rp108.93 billion.
That equity chill landed a day after the IHSG had climbed 0.40% to 6,462.43 on Thursday, Bisnis.com noted, with consumer, energy, and technology names among the props. BRI Danareksa Sekuritas technical analyst Reza Diofanda still framed the rebound as running under Fed-hike pressure and said attention would shift to the rupiah, yields, and foreign-flow follow-through. He mapped nearby support at 6,390 then 6,220, arguing a reclaim of 6,585 would reopen a path toward 6,705.
The policy counterpoint came from Finance Minister Suahasil Nazara at the APBN KiTa briefing Friday: foreign inflows into Indonesia’s financial markets totaled Rp141.6 trillion year to date through 11 September, Bisnis.com reported — led by SBN net inflows of Rp40.8 trillion and SRBI net inflows of Rp171.6 trillion, even while equities still showed a Rp70.7 trillion year-to-date outflow. Suahasil also flagged a Q3 equity turn, with about Rp2.9 trillion of stock-market inflow through 11 September, and said restoring credibility in the equity market remains unfinished work.
Bottom line: Session-one Jakarta still looked like an equity-flow story — soft IHSG, heavy foreign selling led by the banks. The MoF tape is different: bonds and SRBI are carrying the Rp141.6T headline. Watch whether 6,390 holds into the afternoon close, and whether next week’s foreign flow finally follows Suahasil’s Q3 equity thaw — or keeps treating Indonesia as a fixed-income trade.
