Indonesian Stock Market Overview

IHSG Declines Amid Mixed Blue-Chip Movements

The Indonesian Composite Index (IHSG) ended trading on December 23, 2025, in the red, declining 0.71% to 8,584.78. The index faced pressure despite varied movements among blue-chip stocks. While some stocks like FILM (+9.77%), VKTR (+13.42%), and IMPC (+8.54%) showed significant gains, others like DSSA (-4.78%), BBCA (-1.83%), and BRPT (-4.65%) dragged the index down.

Sectoral Performance

Most sectors closed in negative territory, with the property sector being the most affected (-1.24%). Conversely, the industrial sector stood out with a 2.58% gain. Foreign investors continued their selling trend, with a net sell of Rp852.91 billion in the regular market and Rp348.62 billion overall.

Corporate Updates

BJTM Continues Capital Participation Strategy

Bank Pembangunan Daerah Jawa Timur (BJTM) has invested Rp100 billion in Bank Lampung as part of its capital participation strategy. This move, approved by relevant authorities, includes Rp25.40 billion for acquiring 2.54 million shares and Rp74.62 billion as share premium, increasing BJTM's stake in Bank Lampung to 5.42%. This step is part of BJTM's expansion within the Bank's Group Business (KUB) strategy.

INET Plans Right Issue

PT Sinergi Inti Andalan Prima Tbk (INET) has announced plans for a right issue to raise Rp3.20 trillion. The company will issue 12.8 billion new shares at Rp250 per share, with a ratio of 3:4. Additionally, INET will issue 2.30 billion Series II warrants, potentially raising another Rp691.20 billion. The funds are earmarked for expanding fiber-to-the-home (FTTH) infrastructure through its subsidiary, PT Garuda Prima Internetindo, with a target of two million customers in Bali and Lombok, as well as for working capital and other operational needs.

Market Outlook

The last trading day for shares with rights is set for January 2, 2026, with the rights exercise period from January 8 to January 22, 2026. Investors are advised to monitor these developments closely as they may impact market movements in the coming weeks.