10 November 2025
Market Summary:
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Global Equity: Worries over lofty valuations of tech companies and macro risks put major indices into correction. S&P500 -1.6% WoW while tech-heavy NASDAQ -3% WoW.
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Domestic Equity: MSCI rebalancing announcement and foreign inflow drove the JCI +2.8% WoW. Large caps heavy IDX80 +3% WoW. Foreign inflow was +IDR 3.4Tn.
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Domestic Bond Market: Corrected to 6.19% in line with a weaker IDR, driven by persistent foreign outflow on IndoGB. Foreign ownership dropped to 13.6% (Dec 2024: 14.5%).
Key News of The Week:
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Mixed data spooked Wall Street. Hiring improvement in ADP surveys was offset by record-high layoffs in October. Consumer sentiment hit a 3-year low. Investors await clarity as official jobs data remain delayed due to the U.S. government shutdown.
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Indonesian economy improved in October 2025 with 3Q25 GDP growth of 5.04% (Prev: 5.12%, Cons: 5%), supported by a USD 4.3bn trade surplus. Inflation rose slightly to 2.9% YoY (Prev: 2.7%) driven by gold prices. PMI expanded to 51.2 (Prev: 50.4).
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Indonesia continued its crackdown on illegal commodities through corrective measures against illegal mining and plantations.
Summary & Recommendation
U.S. markets turned cautious amid stretched valuations and data uncertainty from the government shutdown. We expect higher volatility until further clarity emerges. Toward year-end, government social spending is expected to support growth. However, we recommend holding 5–10% cash tactically to manage year-end 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
| PRODUCT | 3M PERFORMANCE | YTD PERFORMANCE |
|---|---|---|
| JCI | +12,07% | +18,57% |
| LQ45 | +7,28% | +3,25% |
| EQUITY | ||
| MITRA A | +8,17% | +4,00% |
| MICB A | +6,08% | +2,18% |
| ASEAN5 | +7,65% | +1,01% |
| MGSED | +4,66% | +10,53% |
| INDEX | ||
| FTSE ESG A | +6,49% | +5,30% |
| ETF | ||
| XMLF | +6,79% | +6,66% |
| BALANCED | ||
| MISB | +10,64% | +19,68% |
| MIA | +8,66% | +8,06% |
| FIXED INCOME | ||
| MIDU A | +2,07% | +8,22% |
| MIDO2 | +2,98% | +8,68% |
| IDAMAN A | +1,73% | +6,01% |
| MONEY MARKET | ||
| MIPU A | +1,04% | +3,82% |
| MMUSD | +0,69% | +2,58% |
*The data above is as of November 7th, 2025
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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