The Indonesian rupiah-denominated assets closed mixed on Wednesday (27-Aug). The JCI index reversed, going up by +0.38% to 7,936.18 after weakening on the previous day by -0.27% (YTD: +12.85%). The turnover posted Rp21.5tn, which was above the YTD average of Rp14.9tn, while foreign investors snapped 11 days of net inflows and posted a net outflow of -Rp212.6bn (YTD: -Rp49.33tn). Regionally, Asian equity markets displayed mixed performance; the Nikkei 225 Index rebounded by +0.30% to 42,520.27 (vs. -0.97% previously, or YTD: +8.29%), while the Shanghai Index dropped sharply by -1.76% to 3,800.35 (vs. -0.39% previously, or YTD: +11.64%).<\/p>\n\n\n\n
Indonesian government bonds (INDOGB) continued their upward trend, led by short-to-mid tenors, such as the 5-yr F104 and 10-yr FR103, whose yields have declined by 3.90 bps and 0.3 bps to 5.68% and 6.31%, respectively. However, the yield of the 15-yr FR106 rose slightly by 0.2 bps to 6.68%, while the yield of the 20-yr FR107 was flat at 6.80%. After posting a strong net buy in the previous day of +Rp3.05tn, foreign investors posted a net outflow, reaching -Rp0.89tn, with came across benchmark (-Rp0.6tn), and non-benchmark (-Rp0.3tn). Furthermore, the yield of the 10-yr USD global bond (Mar-2031) edged up slightly by 0.50 bps to 4.45%, and Indonesia s 5-yr CDS went up further to 67.14 (0.16 bps). On the currency front, the rupiah weakened by -0.37% to Rp16,350\/USD, continuing the previous trend of -0.25%. Year-to-date, the rupiah has depreciated by 1.50%.<\/p>\n\n\n\n
According to IDX s OTC trading report, Indonesian government bond trading activity continued elevated on Wednesday (27-Aug), with total volume rising further to Rp55.7tn (vs. Rp46.5tn on 26-Aug). The figure exceeded the prior week s daily average of Rp39.0tn and stayed well above both the 2025 year-to-date (YTD) daily average of Rp31.0tn and the 2024 daily average of Rp21.7tn. The 5-yr FR0104 series (maturing on 15-Jul-30) dominated market flows, posting Rp6.2tn in trading volume. Its price edged up to 103.50 (+0.15%), driving the yield slightly lower to 5.67% (-3.53 bps). This was followed by the 5.6-yr FR0109 series (maturing on 15-Mar-31), which booked Rp4.9tn in trading volume (vs. Rp6.2tn previously). The bond s price advanced to 101.35 (+0.67%), compressing the yield to 5.59% (-14.21 bps).<\/p>\n\n\n\n
On the flow side, based on the latest DMO data (as of 26-Aug), foreign ownership of government bonds has increased slightly to Rp949.2tn (14.87% of outstanding). YTD, BI has been the largest net buyer (+Rp124.6tn), followed by foreign investors (+Rp72.5tn), onshore banks (+Rp70.2tn), insurance and pension funds (+Rp33.3tn), retail (+Rp29.1tn), other investors (+Rp8.5tn), and mutual funds (+Rp6.4tn).<\/p>\n\n\n\n
Domestic Corp Bond Market<\/p>\n\n\n\n
On the corporate side, trading activity also surged on Wednesday (27-Aug), with total volume more than doubling to Rp7.8tn (vs. Rp3.4tn on 26-Aug). The figure remained above the prior week s daily average of Rp3.1tn, surpassed the 2025 YTD average of Rp3.91tn, and stayed comfortably above the 2024 daily average of Rp2.05tn.<\/p>\n\n\n\n
The SMMBMA01ACN2 series (maturing on 27-Aug-26), rated idA(sy), led the segment with Rp1,077bn in trading volume. Its price eased to 99.90 (-0.10%), pushing the yield higher to 7.60% (+10.57 bps). This was followed by the PIDL01CN3 series (maturing on 27-Aug-30), rated idA+, which debuted in the secondary market with Rp588bn in trading volume. The bond traded at 99.85, yielding 10.29%.<\/p>\n\n\n\n
Fitch Ratings has affirmed PT Sorik Marapi Geothermal Power’s (SMGP) USD350 million 7.75% senior secured notes due 2031 at ‘BB+’. The Outlook is Stable. According to Fitch, the rating reflects the credit profile of SMGP, which is 95% owned by OTP Geothermal and ultimately controlled by Kaishan Group Co., Ltd. Fitch sees, SMGP benefits from long-term fixed-price power purchase agreements (PPAs) with escalation clauses. These secure the sale of electricity from its geothermal power plant, which uses proven innovative geothermal generation technology, to Indonesian state-owned utility PT Perusahaan Listrik Negara (Persero) (BBB\/Stable). The PPA’s take-or-pay (TOP) structure, which covers 90% of the latest unit rated capacity (URC), is tested annually or as required. These features insulate the project from merchant revenue risk.<\/p>","protected":false},"excerpt":{"rendered":"
The Indonesian rupiah-denominated assets closed mixed on Wednesday (27-Aug). The JCI index reversed, going up by +0.38% to 7,936.18 after […]<\/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-5782","post","type-post","status-publish","format-standard","hentry","category-market-research"],"_links":{"self":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/5782","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=5782"}],"version-history":[{"count":1,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/5782\/revisions"}],"predecessor-version":[{"id":5783,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/5782\/revisions\/5783"}],"wp:attachment":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/media?parent=5782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/categories?post=5782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/tags?post=5782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}