20 April 2026
Market Summary:
-
Global Equity: Markets continue rebound momentum assisted by optimistic 1Q26 financial results from US large caps. S&P500 +4.5%
-
Domestic Equity: Indonesia continued rebound momentum albeit less so vs global markets. JCI +2.4% WoW while IDX80 +2.4% WoW. However, foreign recorded net outflow of IDR 1.1tn WoW
-
Domestic Bond Market: Indonesia 10Y yield stable at 6.58%. Foreign recorded net inflow of IDR 7.7tn WoW
Key News of The Week:
- US-Iran restarted negotiations this week after Israel and Lebanon agreed on ceasefire however the situation remains unclear with the main concern being The Hormuz Strait being open or not.
- Volatility on the weekend with Donald Trump claiming the Strait of Hormuz being fully opened on Friday. However, Iran denied the strait being opened.
-
China economy surprised with resiliency with 1Q26 GDP growing 5% YoY (consensus: 4.8%) despite weaker export (+2.5% YoY against consensus of +8.3% YoY).
-
Minister of Finance Purbaya shared that S&P confirmed Indonesia’s sovereign rating at BBB/Stable, based on his meeting with the agency in Washington DC. Key strengths included fiscal discipline, as well as robust tax revenues and economic data in early 2026.
-
Fuel prices spike hit Indonesia with RON-95 and diesel prices rising IDR 6.000-9.000 per liter. This would bring price increase in line with other countries that saw 40% increase in gas prices.
Our View
Volatility remains the theme with high uncertainty on peace in Iran. Market would look at US retail sales to assess further the impact of the war. Domestically market will focus on BI meeting and commentary, especially on the IDR.
Portfolio wise we are positioned to hedge for geopolitical uncertainty. We see opportunity within sector selection and would begin positioning and avoid speculative position. We remain tactical on cash to be opportunistic on bottom fishing.
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 | -15.88% | -11.71% |
| LQ45 | -14.68% | -10.36% |
| EQUITY | ||
| MITRA A | -11.13% | -6.94% |
| MICB A | -9.35% | -5.47% |
| ASEAN5 | -11.54% | -7.36% |
| MGSED | +4.26% | +6.54% |
| INDEX | ||
| FTSE ESG A | -13.00% | -10.67% |
| ETF | ||
| XMLF | -13.93% | -9.50% |
| BALANCED | ||
| MISB | -4.61% | -0.73% |
| MIA | -4.42% | -4.14% |
| FIXED INCOME | ||
| MIDU A | -0.40% | -0.66% |
| MIDO2 | -0.95% | -1.31% |
| IDAMAN A | -0.69% | -0.91% |
| MONEY MARKET | ||
| MIPU A | +0.88% | +0.74% |
| MMUSD | +0.83% | +0.72% |
*The data above is as of April 17th, 2026
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.
Share It :
Written by
Leave a Reply