The Jakarta Composite Index (JCI) experienced significant selling pressure dominated by foreign investor net selling. Trading data showed net selling reaching IDR 689.33 billion across all markets, triggered in part by the weakening of big-cap stocks such as BBCA, BBRI, and AMMN. This condition pushed the majority of sectors—10 out of 11—into the red, with the Basic Industry sector recording the deepest decline of 4.35%.
Negative sentiment also stemmed from global markets, where the US equity market showed mixed performance. Additionally, domestic market players are closely observing S&P Dow Jones Indices' decision to place Indonesia on its 2027 Country Classification Watchlist. This evaluation highlights stock ownership transparency and the effectiveness of information disclosure, which triggered a short-term decline of 1.80% in the MSCI Indonesia index.
Amid market volatility, steelmaker PT Krakatau Steel (Persero) Tbk (KRAS) officially completed the divestment of its entire stake in Krakatau Osaka Steel to Osaka Steel Co., Ltd. This transaction injected fresh capital of IDR 249.98 billion into the company. This strategic move aligns with KRAS's financial performance recovery, which recorded a net profit of USD 2.58 million in the first quarter of 2026.
On the other hand, PT Nusantara Bersatu Tbk (NTBK) took an expansive step by planning a corporate action in the form of a Preemptive Rights Issue (HMETD) targeting funds of up to IDR 500 billion. The proceeds will be allocated to strengthen subsidiary capital, develop assembly facilities, expand into the electric vehicle sector, and acquire a mining services company.
In addition to corporate actions, NTBK is also strengthening its position in the commodity sector through a collaboration between its subsidiary and Magma Capital Resources Private. This partnership focuses on coal distribution logistics utilizing the company's electric truck fleet, which has a distribution capacity reaching 500,000 metric tons per month. Please note that all analyses in this article are for informational purposes only and do not constitute investment recommendations.
