Indonesian retail investors are increasingly diversifying their portfolios globally, driven by rising confidence in US stocks and ETFs, with AI-linked shares now dominating the market and expanding their reach into secondary cities.
Diversification is becoming a more prominent part of the strategy for Indonesian retail investors, and an increasing number are looking beyond local markets towards global assets, especially US shares and exchange-traded funds.
According to internal data from Pluang, the number of active monthly US equity investors on its platform has risen sixfold over the past three years, while first-time investors in the asset class have increased 63-fold over the same period. The company said this appetite is no longer limited to major cities: 38% of its US stock investors come from secondary and tertiary cities, and its services now reach more than 300 cities and regencies across Indonesia.
That shift is also visible in how investors are using these products. Pluang said assets under management in US stocks and ETFs have grown 19-fold in three years, while about one in five new investors on the platform in the first quarter of 2026 began with US shares or ETFs. More than 70% of those who bought global stocks for the first time a year ago have either kept them or continued to hold them, suggesting the trend is being driven more by portfolio building than by short-term speculation.
Andreas Agung Hendrawan, Pluang’s director of marketing and commercial, said investors in Indonesia were becoming more confident about finding growth opportunities abroad. He argued that a more global mindset is leading them to add world-class companies to local holdings rather than replace domestic exposure. Hendrawan also pointed to the scale of artificial intelligence in US equities, citing Goldman Sachs data showing AI-linked companies account for about 45% of the S&P 500’s market capitalisation.
Independent reports underline that concentration. Summaries of market commentary from Goldman Sachs and other outlets said AI-related shares now make up nearly 45% of the S&P 500 by value, with a small group of megacap companies carrying much of the weight. Those reports also noted that AI-linked debt has expanded sharply, reflecting the depth of capital flowing into data centres, chips and related infrastructure.
Pluang has responded by widening the range of products available to Indonesian investors. The company says it offers access to more than 650 US shares and ETFs, along with fractional ownership so customers can buy part of a share rather than a whole one. It has also moved its US stock and ETF products fully to the Penyaluran Amanat Nasabah ke Bursa Luar Negeri scheme in 2025, which it says gives investors direct ownership of the underlying shares. Through PT PG Berjangka, transactions are routed via a Bappebti-licensed futures broker and recorded at Jakarta Futures Exchange, with clearing through Kliring Berjangka Indonesia, while US trades are executed through Alpaca Securities, a FINRA member overseen by the US Securities and Exchange Commission.
According to the company, investors using the platform have already received dividend payments worth tens of billions of rupiah from global shares they own. Pluang says that is evidence the appeal of overseas investing is no longer only about price movements, but also about the income and ownership rights attached to the assets themselves.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
