Weekly Market Recap 22 – 26 June 2026

Market Summary:

Global Equity: Global equities mostly lower, dragged by a sharp tech/AI selloff, renewed US–Iran friction after both sides accused each other of ceasefire violations, and a hawkish Fed backdrop
Domestic Equity: JCI fell -4.55% WoW to 5,896.13, as MSCI EM status retained but reviews extended to November with an explicit frontier-downgrade threat soured sentiment. Foreign outflow: IDR6tn WoW
Domestic Bond Market: IndoGB 10Y yield rose to 7.16% (+8bps WoW). Foreign inflow: IDR6.3tn WoW

Key News of The Week:

US headline PCE rose to 4.1% YoY in May (core 3.4%), the hottest since April ’23, while income and spending both gained 0.7%, underscoring consumer resilience. Firm flash PMIs and an upward Q1 GDP revision to 2.1% reinforced the Fed’s hawkish stance.
US–Iran tensions flared again as Trump accused Iran of violating the ceasefire after a reported Hormuz shipping attack.
MSCI retained Indonesia’s EM status but extended its review to November, warning it could still pursue a frontier downgrade if reforms stall.
Indonesia’s MoF restored and topped up its SAL placement at Himbara to IDR400tn, reversing its earlier gradual withdrawal after bank liquidity tightened more than expected.

Our View

Next week, markets hinge on the fragile Iran–Hormuz ceasefire and Friday’s US payrolls/ISM (both able to swing oil, the dollar, and EM risk), while domestically, CPI and trade data are the key swing factors.

Indonesian equities continue to trade at historically depressed valuations (IHSG -31.81% YTD). While near-term direction hinges on the MSCI outcome, the rupiah, and global risk appetite, current pricing suggests a growing disconnect between market valuation and underlying earnings expectations; we continue to view alpha generation as primarily driven by sector allocation and stock selection. In fixed income, BI’s proactive currency-supportive stance, and the prospect of returning foreign flows make duration increasingly attractive for medium- to long-term investors, despite near-term volatility.

Product Recommendation:

RD MISB, RD MMUSD, RD IDAMAN, RD MIDU, RD MIDSYA, RD MGSED, RD MASED, RD FTSE, ETF LQ45, ETF SRI Kehati, MICB, MITRAS.

Discover a detailed analysis of this week’s market performance in our comprehensive Weekly Market Recap: Read More

PRODUCT	3M PERFORMANCE	YTD PERFORMANCE
JCI	-17.70%	-31.81%
LQ45	-20.23%	-31.05%
EQUITY
MITRA A	-15.07%	-22.74%
MICB A	-15.55%	-21.97%
ASEAN5	-15.54%	-23.42%
MGSED	+19.49%	+16.99%
INDEX
FTSE ESG A	-12.80%	-23.16%
ETF
XMLF	-16.90%	-27.79%
BALANCED
MISB	-27.79%	-14.05%
MIA	-16.11%	-15.86%
FIXED INCOME
MIDU A	-1.80%	-2.06%
MIDO2	-3.37%	-3.72%
IDAMAN A	-1.41%	-1.63%
MONEY MARKET
MIPU A	+1.19%	+1.06%
MMUSD	+1.30%	+1.19%

*The data above is as of June 26th, 2026

For More Information

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

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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