JAKARTA (Yosefardi) – Foreign investors booked net of Rp537 billion for local stocks last week, against net sell of Rp2.01 trillion in previous week.
On Friday last week, they recorded net buy of Rp1.61 trillion, the single largest net buy year-to-date. But year to date, foreign investors booked net sell of Rp1.308 trillion.
During this month, investors focused trading in blue chips stocks such as Bank Rakyat Indonesia with total value of Rp2.2 trillion, Astra Internatioal Rp2.1 trillion, and Semen Indonesia Rp1.71 trillion.
While in term of volume, the trading focused in Nirvana Development, Sekawan Intipratama, and Trada Maritim. Trading in these stocks might be unreal or said as the cooked-up stocks given their poor financials and fundamentals.
Brokerage firm PT Andalan Artha Advisindo (AAA) Securities, now under investigation over the repo transactions with two banks alleged as fictitious transactions, also actively traded in Nirvana Development shares.
Other stocks, needed to monitor closely for trading manipulation with strange volume and valuation on IDX, are Inti Agri Resources, Inovisi Infracom, and Polaris Investama.
For this week, investors might opt to lock in profits due to the hullabaloo in domestic politics following weeks of conflicts between National Police and The Corruption Eradication Commission (KPK).