JAKARTA – Blue chip and second liner stocks surged into the Top Gainers list on Wednesday, despite ongoing selling pressure from foreign investors.

According to data from Indonesia Stock Exchange (IDX), shares of PT TBS Energi Utama Tbk (TOBA) led the Top Gainers list on Wednesday (4/6), posting a 25% price increase.

Shares of the energy company, with a market capitalisation of IDR 4.61 trillion, closed at IDR 565 per share.

They were followed by shares of PT Merdeka Battery Materials Tbk (MBMA), which rose 24.86%. The nickel mining company, with a market capitalisation of IDR 48.81 trillion, closed at IDR 452 per share.

PT Fore Kopi Indonesia Tbk (FORE) ranked third on the Top Gainers list, after recording a 24.51% increase. Shares of the coffee chain operator, with a market capitalisation of IDR 5.66 trillion, closed at IDR 635 per share.

In fourth place was PT Multipolar Technology Tbk (MLPT), which recorded a 19.93% increase. The company, with a market capitalisation of IDR 47.39 trillion, ended trading at IDR 25,275 per share.

During Wednesday’s session, foreign investor sell-off pressure persisted, with a net sell of IDR 440.21 billion—lower than in the previous two trading days.

According to Mandiri Sekuritas’ official website, the term blue chip refers to stocks with jumbo market capitalisation, above IDR 10 trillion.

Meanwhile, second liner refers to stocks with mid-sized market capitalisation, ranging from IDR 500 billion to IDR 10 trillion. (KR/ZH)