All rupiah asset classes closed lower on Wednesday as risk sentiment deteriorated after the US launched fresh strikes on Iran in response to attacks on commercial vessels in the Strait of Hormuz. The escalation pushed Brent crude oil prices higher, strengthened the US dollar, and weighed on emerging market assets. The JCI declined by 1.9% to 5,873 (+4.1% MTD, -32.1% YTD), with sentiment still pressured by investability concerns following the MSCI and S&P DJI index reviews, while foreign investor appetite has yet to fully recover. Trading value remained relatively light at Rp10.5tn, bringing the 2026 average daily turnover to Rp23.4tn. Foreign investors recorded net equity outflows of Rp689.8bn, bringing the cumulative outflows to Rp1.9tn MTD and Rp75.5tn YTD. Regional equities also closed lower, with the Nikkei falling by 2.1% and the Shanghai Composite declining by 0.5% as higher oil prices, renewed inflation concerns, and a firmer US dollar dampened risk appetite ahead of the release of the FOMC minutes.<\/p>\n\n\n\n
The government bond market also came under pressure. Foreign investors recorded net sales of around Rp0.5tn, although benchmark bonds still saw net buying of approximately Rp0.7tn. According to Bloomberg, the 5-yr FR109 yield rose by 10.9 bps to 7.20%, while the 10-yr FR108 yield increased by 9.9 bps to 7.25%. The 15-yr and 20-yr yields also increased to 7.27% (+6.5 bps) and 7.21% (+0.4 bps), respectively. Indonesia’s 5-yr USD sovereign yield rose by 5.8 bps to 4.97%, while the 5-yr CDS widened by 2.8 bps to 92 bps. Meanwhile, the rupiah depreciated by 0.09% to Rp17,999\/USD (-0.65% MTD, -7.84% YTD).<\/p>\n\n\n\n
Despite the recent market volatility, the latest government bond ownership data (settlement as of 6-Jul) showed that foreign ownership continued to increase to Rp890.0tn, or 12.81% of outstanding government bonds, with cumulative net inflows reaching Rp11.3tn YTD, reinforcing the improving foreign demand outlook. Among domestic investors, insurance companies and pension funds remained the largest buyers (Rp135.9tn), followed by Bank Indonesia (+Rp83.7tn), other domestic investors (+Rp81.1tn), banks (+Rp31.6tn), retail investors (+Rp22.6tn), and mutual funds (+Rp14.1tn).<\/p>\n\n\n\n
According to IDX s OTC trading report, Indonesian government bond trading activity strengthened on Wednesday (8-July), with total volume increasing to Rp34.4tn (vs. Rp22.3tn on 7-July). Turnover came in above prior week s daily average of Rp24.3tn, the 2026 YTD average of Rp 30.8tn, and the 2025 daily average of Rp32.0tn. The 10-yr FR0108 benchmark series (maturing on 15-Apr-36) led market activity, recording Rp12.1tn in trading volume. Its price fell to 94.50 (-1.25%), while the yield rose to 7.29% (+17.90 bps). This was followed the 5-yr FR0109 benchmark series (maturing on 15-Mar-31), recording Rp9.9tn in trading volume. Its price fell to 95.10 (-0.05%), while the yield rose to 7.12% (+1.44 bps). Close behind was the 14.1-yr FR0106 series (maturing on 15-Aug-40), with a total volume of Rp2.3tn. Its price fell to 99.00 (-1.49%), while the yield rose to 7.24% (+17.09 bps).<\/p>\n\n\n\n
Demand at Bank Indonesia’s 8-Jul SRBI auction moderated, with total bids easing to Rp39.1tn from Rp43.9tn in the previous auction. Bank Indonesia awarded Rp15tn, unchanged from the previous auction and slightly below its Rp17tn target. SRBI rates were broadly unchanged at 7.26% (6-month tenor), 7.45% (9-mo), and 7.67% (12-mo), while the weighted average yield remained stable at 7.64%.<\/p>\n\n\n\n
On the corporate side, trading activity strengthened on Wednesday (8-July), with total volume increasing to Rp13.7tn (vs. Rp12.2tn on 7-July). Turnover came in above the prior week s daily average of Rp12.1tn, the 2026 YTD average of Rp8.5tn, and the 2025 daily average of Rp4.0tn.<\/p>\n\n\n\n The ADIN01A series (maturing on 17-Jul-27), rated idAA, was the most actively traded with a total volume of Rp899bn, marking its debut on the secondary market. It traded at 100.00, yielding 8.25%. This was followed by the SMLPPI01CN1 series (maturing on 04-Oct-29), rated idA(sy) with a volume of Rp651bn. Its price rose to 111.22 (+2.25%), while the yield declined to 7.09% (-81.44 bps). Close behind was the SIBALI01BCN3 series (maturing on 05-Dec-28), rated idA(sy) with a volume of Rp487bn. Its price rose to 98.82 (+0.57%), while the yield declined to 7.79% (-25.90 bps).<\/p>\n\n\n\n Fitch affirmed PT Bank Resona Perdania s National Long-Term Rating at AAA(idn) with a Stable Outlook, reflecting its strong linkage to its parent, Resona Bank, and Fitch s expectation of extraordinary shareholder support if required. The rating is underpinned by BRP s strategic importance to Resona s operations in Indonesia, close operational integration, and the parent s strong financial capacity to provide support. Fitch noted that any downgrade would likely result from a weakening in Resona s credit profile or support commitment, while there is no upside as the rating is already at the highest national scale.<\/p>","protected":false},"excerpt":{"rendered":" All rupiah asset classes closed lower on Wednesday as risk sentiment deteriorated after the US launched fresh strikes on Iran […]<\/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-7014","post","type-post","status-publish","format-standard","hentry","category-market-research"],"_links":{"self":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/7014","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=7014"}],"version-history":[{"count":1,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/7014\/revisions"}],"predecessor-version":[{"id":7015,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/7014\/revisions\/7015"}],"wp:attachment":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/media?parent=7014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/categories?post=7014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/tags?post=7014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Domestic Corp Bond Market<\/strong><\/p>\n\n\n\n