Market Summary:

• Global Equity: Markets rallied towards the end of the year. S&P500 +2.3% WoW while Nasdaq +2.6% WoW

• Domestic Equity: Some profit taking can be seen as investors rotate from financials to commodity. JCI -0.3% WoW while IDX80 +0.09% WoW

• Domestic Bond Market: IndoGB flat at 6.15%

 

Key News of The Week:

• The US economy grew 4.3% on 3Q25, exceeding market expectations on the back of consumer spending on healthcare and computing.

• China’s recovery remains fragile as industrial profits plunged 13% YoY in November due to involution practices in Chinese firms.

• China pledged to broaden fiscal spending in 2026 to boost growth, targeting advanced manufacturing, tech innovation, and human capital.

• Indonesia’s M2 grew 8.3% YoY in November 2025, indicating liquidity expansion driven by net claims on central government and credit growth.

• Indonesia targets to stop diesel imports by 2026 and prioritizes domestic production through the biodiesel program, maintaining 2026 allocation at 15.6 KL.

• Indonesian laborers plan to protest the proposed increase to UMP.

• Thailand and Cambodia agreed to an immediate ceasefire for the second time in six months.

 

Summary & Recommendation

We maintained a positive outlook on equity with a barbell approach between growth and hedges. We position a 3–5% cash portion 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

 

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PRODUCT	3M PERFORMANCE	YTD PERFORMANCE
JCI	+5.06%	+20.59%
LQ45	+4.53%	+2.27%
EQUITY
MITRA A	+7.18%	+6.39%
MICB A	+5.21%	+3.22%
ASEAN5	+6.66%	+3.03%
MGSED	-0.18%	+9.67%
INDEX
FTSE ESG A	+1.59%	+2.92%
ETF
XMLF	+4.21%	+5.56%
BALANCED
MISB	+7.65%	+23.00%
MIA	+6.72%	+8.85%
FIXED INCOME
MIDU A	+0.72%	+8.46%
MIDO2	+2.23%	+8.86%
IDAMAN A	+0.49%	+5.93%
MONEY MARKET
MIPU A	+1.03%	+4.38%
MMUSD	+0.67%	+2.93%

*The data above is as of December 24th, 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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