Weekly Market Recap 1 – 5 June 2026

Market Summary:

Global Equity: Global equities mostly fell, driven by a major tech and semiconductor selloff amid concerns that the AI boom was overbought and by rising interest-rate expectations following a strong U.S. jobs report.
Domestic Equity: JCI fell by -8.69% WoW. Foreign investors recorded a net outflow of IDR 7.4tn across all markets this week.
Domestic Bond Market: SBN 10Y yield rose to 6.88% from 6.72% in prev. week with foreign inflow around IDR8.8tn this week.

Key News of The Week:

US economy added 172,000 jobs in May. The unemployment rate held steady at 4.3%. US PMI data highlighted resilient activity, with manufacturing and services PMIs at around 54.
Indonesia’s fiscal deficit was IDR 180.4 tn (−0.70% of GDP). Headline CPI rose to 3.08% YoY and core CPI to 2.59% YoY.
Indonesia’s trade surplus narrowed sharply to USD89.1mn in April 2026 with exports rose by +21.98% YoY while import grew +22.49% YoY.
Moody’s assigned PT DIM a Baa2 rating with a negative outlook. S&P Global Ratings assigned DIM a long-term credit rating of BBB and a short-term rating of A-2, both with a stable outlook.
The House of Representatives (DPR) passed revisions to the P2SK Law, expanding Bank Indonesia’s (BI) mandate to include supporting economic growth and job creation and allowing lawmakers to evaluate BI’s performance.

Our View

Next week’s key global macro releases include U.S. CPI and PPI, the ECB rate decision (consensus: 25 basis-point hike), and China CPI. Domestically, monitor Indonesia’s foreign reserves and the consumer confidence index.

The IHSG has corrected below the 5,600 level, marking a five-year low and bringing valuations to a forward price-to-earnings ratio (PER) of 8.8x — levels last seen during the COVID-19 pandemic, although the earnings backdrop differs (the market projects 7.3% growth in 2026 versus contraction during the pandemic). Macro sentiment remains a key swing factor; alpha generation will likely come from sector allocation and selective stock picking. Meanwhile, Indonesian government bond (INDOGB) yields have moved higher, with the adjustment most pronounced at the front end of the curve. This creates an attractive entry point for investors to ride out near-term volatility amid ongoing global geopolitical uncertainty and renewed depreciation pressure on the rupiah.

Product Recommendation:

RD MISB, RD MMUSD, RD IDAMAN, RD MIDU, RD MIDSYA, RD MGSED, RD MASED, RD FTSE, ETF LQ45, ETF SRI Kehati, MICB.

Discover a detailed analysis of this week’s market performance in our comprehensive Weekly Market Recap: Read More

PRODUCT	3M PERFORMANCE	YTD PERFORMANCE
JCI	-27.44%	-35.30%
LQ45	-29.20%	-34.12%
EQUITY
MITRA A	-22.34%	-25.45%
MICB A	-22.49%	-24.98%
ASEAN5	-22.50%	–25.66%
MGSED	+17.45%	+19.80%
INDEX
FTSE ESG A	-21.96%	-27.48%
ETF
XMLF	-26.58%	–31.57%
BALANCED
MISB	-13.54%	-13.99%
MIA	-17.57%	-17.33%
FIXED INCOME
MIDU A	-1.51%	-1.76%
MIDO2	-2.44%	-2.80%
IDAMAN A	-1.80%	-2.01%
MONEY MARKET
MIPU A	+1.09%	+0.95%
MMUSD	+1.18%	+1.07%

*The data above is as of June 5th, 2026

For More Information

Contact Mandiri Investasi – (021) 526 3505
Email Mandiri Investasi – [email protected]
Mandiri Investasi – mandiri-investasi.co.id

DISCLAIMER‌
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The information and opinions expressed in this article are for general informational purposes only and are not intended as specific advice or recommendations for any individual, security, or investment product. The content is meant to provide education about the financial industry. Opinions and views presented may change without prior notice. All performance data and investment returns mentioned in this article should not be used as a guarantee or basis for decisions to buy or sell any securities. The data reflects historical performance and does not guarantee future results. Investing in mutual funds carries risks. Investors are advised to carefully read and understand the prospectus before making any investment decisions.

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