Executive Summary

Key insights and market outlook

The Indonesian Composite Index (IHSG) surged 1.27% to 8,859.19, achieving an all-time high despite global tensions, particularly the conflict between the US and Venezuela. Foreign investors recorded a net buy of Rp 38.87 billion, with significant purchases in ANTM (Rp 154.1 billion), BBCA (Rp 124.5 billion), and BRMS (Rp 110.6 billion) ⁶

. The gain was driven by optimism about Asia's economic prospects and positive sentiment in regional markets.

Full Analysis

02

Deep Dive Analysis

Indonesian Stock Market Achieves Record High Amid Global Uncertainty

Market Performance

The Indonesian Composite Index (IHSG) closed at an all-time high of 8,859.19, surging 1.27% or 111.06 points on Monday, January 5, 2026 ¹

⁴. This remarkable performance was driven by broad-based sectoral gains, with 10 out of 11 sectors showing positive movement. The raw materials sector led the gains with a 2.62% increase, followed by the energy sector at 2.31% and transportation at 2.02% ⁴.

Sectoral Performance and Trading Activity

The market's upward momentum was supported by significant foreign investor activity, with a net buy of Rp 38.87 billion across all markets ⁶

. The majority of foreign investment was concentrated in the negotiation market, with a net buy of Rp 48.84 billion, while the regular market saw a net sell of Rp 9.98 billion ⁶. Stocks with the largest foreign net buys included ANTM (Rp 154.1 billion), BBCA (Rp 124.5 billion), and BRMS (Rp 110.6 billion). Conversely, DEWA (Rp 415.2 billion), BUMI (Rp 271.5 billion), and BULL (Rp 83.4 billion) experienced the largest net sells ⁶.

Market Drivers

Despite global tensions, particularly the conflict between the US and Venezuela, the IHSG maintained its upward trajectory. Analysts attribute this resilience to growing optimism about Asia's economic prospects. Maximilianus Nico Demus from Pilarmas Investindo Sekuritas noted that while investors were monitoring the US-Venezuela conflict, they were also preparing for key US economic data releases this week ¹

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Stock Recommendations

Mirae Asset Sekuritas highlighted that their recommended stocks, particularly DEWA and BRMS, saw significant foreign investment inflows. Between December 4, 2025, and January 2, 2026, these stocks recorded gains of 63% and 18% respectively, outperforming the IHSG's 1.6% gain during the same period ³

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Market Outlook

The IHSG's strong performance was mirrored in regional markets, with Japan's Nikkei225 rising 2.97% and China's Shanghai Composite Index gaining 1.38% ¹

. This regional momentum, combined with positive domestic sentiment, suggests continued optimism for the Indonesian stock market in the near term.

References