Rupiah assets closed mixed on Thursday. The JCI slipped by -0.23% to 7,867.35 (vs. +1.08% prior; YTD +12.01%), with the turnover easing to Rp14.1tn (vs. Rp18.3tn prior; YTD average: Rp14.4tn). Furthermore, foreign investors continued to sell, though at a slower pace, posting net outflows of Rp305bn (vs. -Rp1.39tn prior; YTD: -Rp55.1tn). Regionally, Asian equities ended mixed; the Nikkei 225 Index gained +1.53% to 42,580.3 (YTD: +8.46%), while the Hang Seng Index fell -1.12% to 25,058.5 (YTD: +24.76%) as investors locked in recent gains.<\/p>\n\n\n\n
On the bond side, INDOGB yields declined across the curve, except for the 20-yr tenor. The 5-yr FR104 closed at 103.28 (yield: 5.71%, -1.8 bps), the 10-yr FR103 at 102.71 (yield: 6.37%, -0.4 bps), the 15-yr FR106 at 103.86 (yield: 6.71%, -0.1 bps), and the 20-yr FR107 edged up to 102.93 (yield: 6.85%, +0.5 bps). In USD debt, the 5-yr global bond (Mar-2031) rose to 87.36 (yield: 4.46%, -2.8 bps), while the 5-yr CDS tightened further to 71.0 bps (-1.1 bps). Meanwhile, the rupiah weakened slightly by -0.03% to Rp16,420\/USD (YTD: -1.93%).<\/p>\n\n\n\n
According to IDX s OTC trading report, Indonesian government bond trading activity softened further on Thursday (4-Sep), with total volume easing to Rp24.8tn (vs. Rp28.0tn on 3-Sep). The figure fell below the current week s daily average of Rp33.2tn and remained under the 2025 year-to-date (YTD) daily average of Rp31.4tn, though it stayed comfortably above the 2024 daily average of Rp21.7tn. The 5-yr FR0104 series (maturing on 15-Jul-30) was the most actively traded, recording Rp6.6tn in volume. Its price edged up to 103.38 (+0.19%), lowering the yield to 5.69% (-4.71 bps). This was followed by the 5.5-yr FR0109 series (maturing on 15-Mar-31), which booked Rp2.8tn in trading volume. The bond s price slipped slightly to 100.70 (-0.05%), nudging the yield higher to 5.73% (+1.06 bps).<\/p>\n\n\n\n
Flows data based on the latest DMO data (as of 3-Sep) showed that foreign ownership of government bonds declined to Rp944.7tn (14.75% of outstanding) as of 3-Sep. YTD, BI has been the largest net buyer (+Rp127tn), followed by onshore banks (+Rp85.3tn), foreign investors (+Rp68tn), insurance & pension funds (+Rp41.4tn), retail (+Rp26.5tn), other investors (+Rp10tn), and mutual funds (+Rp8.2tn).<\/p>\n\n\n\n
For the week, performance was mixed: equities rose +0.49% (vs. -0.34% prior), while the 10-yr INDOGB yield rose +8.6 bps (vs. +0.5 bps prior). The USD INDOGB yield ticked up +1.3 bps (vs. +1.2 bps prior), while the rupiah strengthened by +0.22% (vs. -0.68% prior). Foreign investors, however, reported net outflows of -Rp4.2tn in equities (vs. +Rp1.5tn prior) and -Rp2.6tn in bonds (vs. -Rp0.8tn prior).<\/p>\n\n\n\n
Over the week, average daily government bond trading volume declined to Rp33.2tn (vs. Rp41.1tn in the prior week). The 5-yr FR0104 series remained the most actively traded benchmark, although its total weekly volume fell to Rp24.2tn (vs. Rp31.3tn previously).<\/p>\n\n\n\n
Domestic Corp Bond Market<\/p>\n\n\n\n
On the corporate side, trading activity weakened on Thursday (4-Sep), with total volume declining to Rp3.8tn (vs. Rp5.5tn on 3-Sep). The figure fell below both the current week s daily average of Rp4.4tn and the 2025 YTD average of Rp3.93tn, yet it remained well above the 2024 daily average of Rp2.05tn.<\/p>\n\n\n\n
The JSMR03CCN2 series (maturing on 4-Sep-35), rated idAA, emerged as the most actively traded corporate bond with Rp456bn in volume. It traded at 100.00, yielding 7.15%. This was followed by the ASDF06BCN5 series (maturing on 14-Mar-28), rated AAA(idn), which posted Rp200bn in trading volume. Its price inched up to 101.72 (+0.29%), compressing the yield to 6.01% (-12.69 bps).<\/p>\n\n\n\n
Over the week, average daily trading volume in corporate bonds edged up to Rp4.4tn (vs. Rp4.1tn in the prior week). The 0.2-yr SMARMA01 series (maturing on 24-Nov-25), rated irA-, stood out as the most actively traded corporate bond, registering a total weekly volume of Rp672bn.<\/p>\n\n\n\n
Pefindo has assigned idAA- rating with stable outlook to PT Bank Panin Dubai Syariah Tbk (PDSB). According to Pefindo, the rating reflects a very strong likelihood of support from PT Bank Pan Indonesia Tbk (Panin Bank or Parent). Meanwhile, PDSB s standalone credit profile does not drive the rating, which reflects its above-average market position, strong capitalization, exposure to concentration risk, weak asset quality profile, and below-average profitability indicators.<\/p>","protected":false},"excerpt":{"rendered":"
Rupiah assets closed mixed on Thursday. The JCI slipped by -0.23% to 7,867.35 (vs. +1.08% prior; YTD +12.01%), with the […]<\/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-5803","post","type-post","status-publish","format-standard","hentry","category-market-research"],"_links":{"self":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/5803","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=5803"}],"version-history":[{"count":1,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/5803\/revisions"}],"predecessor-version":[{"id":5804,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/5803\/revisions\/5804"}],"wp:attachment":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/media?parent=5803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/categories?post=5803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/tags?post=5803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}