The Banking Sector Posting Foreign Net Buy of IDR16 Trillion

The banking sector posted the first’s largest foreign net buy of virtually IDR16 trillion last week. Most of the net buy derived from BTPN’s acquisition worth IDR14.2 trillion by Sumitomo Mitsui Banking Corporation. The acquisition was the merger between BTPN and PT Bank Sumitomo Mitsui Indonesia. The second’s largest foreign net buy was BBRI and BBCA’s stocks posting the foreign inflows of almost IDR1.4 trillion. That was understandable due to the Fed’s more accommodative monetary policy, giving bull favor to emerging markets—Indonesia in particular.

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