27 April 2026
Market Summary:
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Global Equity:Rebound momentum slowed down as uncertainty over peace negotiations emerge. S&P500 +0.55%
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Domestic Equity: Indonesian market corrected deeply due to sharp IDR weakness and correction in high shareholder concentration stock. with JCI -6.6% WoW and IDX80 -8.4% WoW. However, foreign recorded net outflow of IDR 2.9tn WoW
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Domestic Bond Market: Indonesia 10Y yield corrected to 6.78%. Foreign recorded net inflow of IDR 6.1tn WoW
Key News of The Week:
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Asia sees a hawkish bias with Philippines’ Central Bank raising rates by 25bps to 4.5%. Singapore also pushed forward hawkish policy by adjusting its currency band to counter inflation pressure. This signals that various economies globally has moved early to anchor inflation expectations
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Bank Indonesia maintained with tight tone with holding the BI rate, in line with consensus. However, BI raised the SRBI rates as a mean to defend the IDR which has hit 17300/USD driven by a jumbo maturity in forwards. Furthermore BI stated that rate hike must be caused by sustainable IDR weakening and persistent inflation pass-through
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Indonesia MoF changed two director generals: the DirJen for budget, and Dirjen for Economic and Fiscal Strategy
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MSCI to continue index freeze for Indonesia citing monitoring market reform progress. The index provider will give out further guidance in June methodology review.
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Stocks included in IDX High Shareholder Concentration would not be considered for index inclusion for both MSCI and IDX indices (LQ45, IDX80, etc)
Our View
Next week the market will focus on FOMC meeting which the market will expect a hold. Next week’s meeting will bring attention as Kevin Warsh is expected to give his remarks close to change of Fed chair in May.
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 | -20.35% | -17.55% |
| LQ45 | -20.93% | -18.40% |
| EQUITY | ||
| MITRA A | -13.27% | -9.57% |
| MICB A | -11.81% | -8.15% |
| ASEAN5 | -13.68% | -10.04% |
| MGSED | +4.06% | +7.27% |
| INDEX | ||
| FTSE ESG A | -15.51% | -14.83% |
| ETF | ||
| XMLF | -19.45% | -16.84% |
| BALANCED | ||
| MISB | -6.32% | -2.07% |
| MIA | -6.25% | -5.98% |
| FIXED INCOME | ||
| MIDU A | -0.91% | –0.94% |
| MIDO2 | –1.68% | –2.03% |
| IDAMAN A | –0.84% | -1.06% |
| MONEY MARKET | ||
| MIPU A | +0.93% | +0.80% |
| MMUSD | +0.88% | +0.78% |
*The data above is as of April 24th, 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.
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