17 November 2025
Market Summary:
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Global Equity: Volatility returned to Wall Street as fears of Fed not cutting rates grew. The S&P500 returned flat while the tech-heavy NASDAQ dropped 0.7% WoW.
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Domestic Equity: Indonesian markets took a breather with JCI -0.3% WoW, large caps heavy IDX80 -0.7% WoW. Foreign inflow was + IDR 3.8 Tn.
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Domestic Bond Market: Rebounded to 6.13% (Prev: 6.19%). Foreign ownership remains low at 13.4% (2024: 14.5%).
Key News of The Week:
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US Government shutdown lifted after lawmakers reached a budget deal. Federal agencies resume data releases though October employment figures remain unpublished.
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Skepticism grew on rate cut in December as Fed officials turned more cautious amid inflation risks.
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GOTO-Grab merger emerged with reports of government support via Danantara. EGMS set for 17 December.
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Indonesian corporates wrapped 3Q25 earnings with QoQ improvement, signaling bottoming sentiment in equities.
Summary & Recommendation
With 3Q results out, earnings momentum is expected to pick up toward year-end as companies benefit from an improving economic backdrop. The equity outlook remains positive under a barbell strategy between growth and hedges. A 3–5% cash allocation is maintained to capture opportunities amid volatility and flow-related catalysts.
Product recommendation:
RD MITRA, RD ASEAN5, RD MISB, RD MIDU, RD MIDSYA, RD MMUSD, RD IDAMAN.
Discover a detailed analysis of this week’s market performance in our comprehensive Weekly Market Recap: Read More
| PRODUCT | 3M PERFORMANCE | YTD PERFORMANCE |
|---|---|---|
| JCI | +5,54% | +18,23% |
| LQ45 | +2,08% | +2,11% |
| EQUITY | ||
| MITRA A | +5,09% | +4,35% |
| MICB A | +2,60% | +1,82% |
| ASEAN5 | +4,58% | +1,32% |
| MGSED | +3,00% | +10,37% |
| INDEX | ||
| FTSE ESG A | +0,30% | +4,28% |
| ETF | ||
| XMLF | +1,62% | +5,44% |
| BALANCED | ||
| MISB | +9,58% | +20,30% |
| MIA | +6,29% | +7,47% |
| FIXED INCOME | ||
| MIDU A | +1,83% | +8,44% |
| MIDO2 | +2,68% | +8,89% |
| IDAMAN A | +1,02% | +5,93% |
| MONEY MARKET | ||
| MIPU A | +1,03% | +3,90% |
| MMUSD | +0,68% | +2,63% |
*The data above is as of November 14th, 2025
For More Information
Contact Mandiri Investasi – (021) 526 3505
Email Mandiri Investasi – [email protected]
Mandiri Investasi – mandiri-investasi.co.id
DISCLAIMER
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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