Similar to the Jakarta Great Sale event, Indonesia's main stock index (IHSG) trades its stocks at low prices as foreign investors have sold large parts of their Indonesian stock assets in recent weeks. Last week, foreign investors sold IDR 4.9 trillion (about USD $492.4 million), meaning that this year's accumulated foreign net buying has evaporated. Will these sales continue? Yes, I think so. Foreigners have invested about IDR 144 trillion in Indonesia's capital markets between 2007 and Q1-2013. As such, there is still plenty to sell.
Update COVID-19 in Indonesia: 104,432 confirmed infections, 4,975 deaths (29 July 2020)
29 July 2020 (closed)
USD/IDR (14,653) +0.00 +0.00%
EUR/IDR (17,252) +0.00 +0.00%
Jakarta Composite Index (5,111.11) -1.88 -0.04%