印度尼西亚市场日报（2025年6月30日）

June 30, 2025 MarketReview JCIrisesamidglobalpolicyshiftsanddomesticstimulus.USstocks extended theirrally,with the S&P 500 hitting both an intraday and recordclosing high,driven by growing optimism over trade agreements andprogressinUS-Chinatradenegotiations.ThispositivesentimentcameaheadofadisappointingMaypersonal incomeandspendingreport.Personalincomefellby0.4%MoM,missingexpectationsofa0.4%MoMincrease.Personalspendingalsodeclined by 0.1%MoM,below the anticipated 0.2%MoM gain.Europeanmarketsalso closed higher after reports confirmed that the US and Chinahadreacheda trade framework agreement.The deal is expected to boost China’srareearthexportsandeaserestrictionsontechproductexportstoChina.TherearealsoindicationstheUSmaysoonannounceupto10newtradedeals.Asianmarketsopened higher this morning as the market assessed a full economiccalendar,includingindustrialoutputdatafromSouthKoreaandJapanforMay,aswellasChina’sJunePMIreadings. TheJCIclosedhigher,gaining65.26pointsor0.96%tosettleat6,897.40,asmarketsentimentturnedcautiouslyoptimisticamidamixofglobalanddomesticdevelopments.Internationally,market participants were closely watching thetestimonyof Federal Reserve Chairman Jerome Powell before the US HouseFinancialServices Committee.Powell’s comments hinted at the possibility of aratecut,asinflationcontinuestomoderate.TheUSConsumerPriceIndex(CPI)forMay 2025 came in at 2.4%YoY,slightly below the consensus forecast of2.5%butstillmarginallyabovetheFed'slong-termtargetof2%.Thisresulthasprovidedmarkets with hope for a more accommodative monetary policytrajectory,althoughuncertaintylingers.Addingtothecomplexity,USPresidentDonaldTrump sparked concerns by expressing his intention to replace Powellbeforehis term ends in May 2026,casting a political shadow over the Fed'sindependenceand stability.On the domestic front,Indonesia is attempting toshoreup household consumption through targeted fiscal measures.Thegovernmenthasintroducedwagesubsidyassistance(BSU)for17.3millionlow-incomeworkers earning up to IDR 3.5 million per month.Each worker willreceiveIDR 300,000 permonth over atwo-month period(June–July),totalingIDR600,000 as an effort designed to stimulate spending and,by extension,supporteconomic activity.Meanwhile,the Indonesia Stock Exchange(IDX)ispreparingfor structural policy shifts aimed at revitalizing market participationandliquidity.Starting in 3Q25,the IDX plans to reintroduce investor domicilecodesand potentially extend trading hours by 1–2 hours.Discussions are alsounderwayto reduce the minimum lot size from 100 shares to 10,a moveexpectedtoeaseaccessforretailinvestors. FOREIGN MOST BUY (NET) Source: IDX TradingValue:IDR14.93trillionForeignNetBuy:IDR2.02billion CompanyNews PTMedcoEnergiInternasionalTbk(MEDC)MEDChas signed a USD 425 million agreement with Repsol E&P to acquire FortunaInternational(Barbados)Inc.,whichindirectlyownsa24%stakeintheCorridorProductionSharingContract(PSC)inSouthSumatra.TheCorridorPSCincludes7 gas fields and 1 oilfield,with gas sales secured through long-termcontractsto major buyers in Indonesia and Singapore.MEDC stated theacquisitionaligns with the company’s strategy to strengthen its portfolio withhigh-quality,cash-generatingassetsandsupportIndonesia’stransitiontoalow-carbonfuture.Thetransactionisexpectedtoconcludein3Q25.Source:BisnisIndonesia Source: IDX PTMultiHannaKreasindoTbk(MHKI)MHKIannouncedacashdividenddistributionofIDR2.15pershare,equivalent toIDR 8.49 billion.This payout represents 25%of the company’s 2024 netprofit,anotableincreasefromtheprevious year's10%.MHKIhighlightedthatthisreflectsthecompany’ssolidfinancialperformance,with2024revenuerising16%to IDR 172 billion and net profit growing 12%to IDR 32 billion.MHKIemphasizedthat the strong results demonstrate effective operational strategyandprovideafirmfoundationforfuturegrowth.Source:BisnisIndonesia Source: Bloomberg Source: Bloomberg Stocks, Bonds, Foreign Exchange