Rupiah assets closed mixed on Friday (8-Aug). The JCI rebounded to 7,533.39 (+0.58% DoD; YTD: +7.58%), with the turnover rising to Rp18.5tn (vs. Rp16.8tn prior; YTD avg.: Rp13.6tn). Foreign investors reversed course after 3 days of inflows, posting -Rp510.9bn in net selling (vs. +Rp666.1bn previously; YTD: +Rp61.9tn). Regionally, the sentiment was mixed; the Hang Seng fell -0.89% (YTD: +23.84%), while the Nikkei 225 rallied +1.85% (YTD: +6.56%) due to positive earnings and optimism over US tariff removals.<\/p>\n\n\n\n
INDOGB extended its rally, supported by strong foreign inflows of +Rp4.12tn (benchmark at +Rp2.3tn and non-benchmark at +Rp1.8tn, according to the CTP PLTE data). Benchmark yields fell, with the 5Y FR104 at 102.38 (yielding 5.93%, -3.3 bps), the 10Y FR103 at 102.52 (6.40%, -3.8 bps), the 15Y FR106 at 103.21 (6.78%, -0.2 bps), and the 20Y FR107 at 103.25 (6.83%, -2.4 bps). Meanwhile, the USD sovereign curve edged higher; the 5Y tenor (Mar-2031) slipped to 87.08 (4.49%, +2.1 bps). Indonesia s 5Y CDS narrowed to 74.56 bps (-0.74 bps). The rupiah snapped a 4-day rally, softening by 0.02% to Rp16,294\/USD (vs. +0.45% previously; YTD: -1.14%), in line with a stronger DXY.<\/p>\n\n\n\n
According to IDX s OTC trading report, Indonesian government bond trading activity heightened on Friday (8-Aug), with volume rising to Rp38.8tn (vs. Rp32.4tn on 7-Aug). The figure exceeded the current week s daily average of Rp35.8tn and remained well above both the 2025 year-to-date (YTD) daily average of Rp30.5tn and the 2024 daily average of Rp21.7tn. The 10-yr FR0103 series (maturing on 15-Jul-35) led market flows, with trading volume surging to Rp9.1tn (vs. Rp3.0tn in the previous day). Its price advanced to 102.74 (+1.72%), pressing the yield lower to 6.37% (-23.73 bps). This was followed by the 5-yr FR0104 series (maturing on 15-Jul-30), which booked a trading volume of Rp4.6tn (vs. Rp5.5tn previously). The bond s price inched up to 102.46 (+0.20%), bringing the yield down to 5.92% (-4.70 bps).<\/p>\n\n\n\n
On the flow side, based on the latest DMO data (as of 7-Aug), foreign holding in government bonds rebounded, increasing to Rp935.4tn, at 14.57% of the total outstanding. Year-to-date, Bank Indonesia has been the biggest net buyer of government bonds (amounting to +Rp114.9tn), followed by onshore banks (+Rp75.1tn), insurance & pension funds (+Rp67.6tn), foreign investors (+Rp58.7tn), retail investors (+Rp40.3tn), other investors (+Rp19.1tn), and mutual funds (+Rp5.4tn).<\/p>\n\n\n\n
Based on our calculation, onshore banks maintained their dominance in the primary sukuk market during the 5-Aug auction, securing Rp7.5tn in net awards, or 57.9% of the total issuance. Other investors followed with Rp2tn in net awards, insurance and pension funds with Rp1.7tn, Bank Indonesia with Rp0.9tn, and mutual funds with Rp0.5tn.<\/p>\n\n\n\n
Over the week, the JCI edged down -0.05% (vs. -0.06% last week). In contrast, the domestic government bond market rallied, with the 10Y INDOGB yield reversing and sharply lowering by -16.5 bps (vs. +5.5 bps last week), while the USD-denominated 10Y INDOGB yield fell -7.0 bps (vs. -0.4 bps last week). Moreover, the rupiah strengthened by +1.21% against the USD (vs. -1.09% last week). Foreign flows turned positive across asset classes; equity market inflows amounted to +Rp0.12tn (vs. -Rp2.20tn last week), while bond market inflows surged to +Rp8.92tn (vs. -Rp1.74tn last week).<\/p>\n\n\n\n
For the week, the average daily trading volume in government bonds held firm at Rp35.8tn, in line with the prior week Rp35.8tn. The 10-yr FR0103 series remained the most actively traded, although its total weekly volume eased slightly to Rp26.2tn (vs. Rp27.8tn previously).<\/p>\n\n\n\n
Domestic Corp Bond Market<\/strong><\/p>\n\n\n\n On the corporate side, trading activity picked up on Friday (8-Aug), with volume increasing to Rp2.9tn (vs. Rp2.4tn on 7-Aug). The figure remained well below both the current week s daily average of Rp3.7tn and the 2025 YTD average of Rp3.98tn, yet stayed comfortably above the 2024 daily average of Rp2.05tn.<\/p>\n\n\n\n The SMINKP03BCN2 series (maturing on 25-Aug-26), rated idA+(sy), topped the segment with a trading volume of Rp326bn. Its price inched up to 101.94 (+0.19%), bringing the yield down to 8.29% (-19.33 bps). This was followed by the TOBA01BCN1 series (maturing on 8-Jul-30), rated idA, which posted a trading volume of Rp157bn. The bond s price eased to 101.15 (-1.72%), pushing the yield higher to 8.71% (+43.77 bps).<\/p>\n\n\n\n For the week, the average daily trading volume in corporate bonds declined sharply to Rp3.7tn (vs. Rp5.3tn in the prior week). The 4.3-yr SMDSSA01CCN3 series (maturing on 26-Nov-29), rated idAA(sy), emerged as the most actively traded corporate bond, recording a total weekly volume of Rp591bn.<\/p>","protected":false},"excerpt":{"rendered":" Rupiah assets closed mixed on Friday (8-Aug). The JCI rebounded to 7,533.39 (+0.58% DoD; YTD: +7.58%), with the turnover rising […]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[7],"tags":[],"class_list":["post-5693","post","type-post","status-publish","format-standard","hentry","category-market-research"],"_links":{"self":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/5693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/comments?post=5693"}],"version-history":[{"count":1,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/5693\/revisions"}],"predecessor-version":[{"id":5694,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/5693\/revisions\/5694"}],"wp:attachment":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/media?parent=5693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/categories?post=5693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/tags?post=5693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}