Market Summary:

• Global Equity: Markets took a breather after fed cut sentiment. S&P500 -0.6% WoW while Nasdaq -1.6% WoW.

• Domestic Equity: Some profit taking can be seen as investors rotate from financials to commodity. JCI -0.6% WoW while IDX80 +0.38% WoW.

• Domestic Bond Market: IndoGB slightly rallied to 6.12%.

 

Key News of The Week:

• Bank Indonesia keeps the BI rate unchanged in favor of Rupiah stability. The central bank reiterates that loan growth of 7.7% YoY remains tepid and monetary transmission stays in focus.

• US job market remains shaky with NFP adding 64k jobs in November, contrasted by a record 4.6% unemployment rate, reinforcing the need for further easing.

• BoJ raised its policy rate to 0.75%, the highest since 1995, pushing Japanese bond yields to 2%.

• Regional government spending realization reached only 71% of target, leaving IDR 412 trillion unspent.

• Danantara prepared to accelerate downstream investments with 5–6 groundbreaking projects scheduled in January 2025.

• Indonesia cut nickel supply by lowering national mining quota to 250 million tons amid weak prices caused by supply glut.

 

Summary & Recommendation

Mixed US labor data supports further monetary easing and sets the stage for stronger 2026 growth through fiscal and monetary alignment. A barbell strategy remains appropriate, balancing growth assets and hedges while maintaining 3–5% cash to navigate volatility.

 

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

 

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PRODUCT	3M PERFORMANCE	YTD PERFORMANCE
JCI	+6.94%	+21.61%
LQ45	+5.38%	+3.25%
EQUITY
MITRA A	+8.61%	+7.02%
MICB A	+5.66%	+3.39%
ASEAN5	+8.12%	+3.70%
MGSED	-2.02%	+7.68%
INDEX
FTSE ESG A	+2.48%	+3.86%
ETF
XMLF	+5.05%	+6.60%
BALANCED
MISB	+9.25%	+23.05%
MIA	+7.93%	+9.17%
FIXED INCOME
MIDU A	+0.48%	+8.41%
MIDO2	+1.92%	+8.84%
IDAMAN A	+0.53%	+5.93%
MONEY MARKET
MIPU A	+1.04%	+4.33%
MMUSD	+0.67%	+2.90%

*The data above is as of December 19th, 2025

 

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For More Information

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

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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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