Corporate Actions to Watch

Nusantara Infrastructure (META) have explained the controlling shareholder to the management of the Indonesia Stock Exchange (IDX), and so trading in its shares resumed on Monday (Nov 27). IDX halted trading in META to seek explanation on the tender offer after META was acquired by PT Metro Pacific Tollways Indonesia (MPTI).

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Foreign Selling vs Domestic Buying

Foreign investors intensified again the selling in local stocks on Monday (Dec 5) with their net sell reaching Rp782.8 billion, cutting year to date net buy to Rp18.57 trillion. During last week, foreign investors booked net sell of Rp3.21 trillion. Foreign investors opted to sell local stocks Monday following global sentiment after plagued by the outcome of Italy’s referendum on Sunday (and Italian Prime Minister Matteo Renzi announcing his resignation).

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