Executive Summary

Key insights and market outlook

The Indonesian Composite Index (IHSG) rebounded 1.25% to 8,644.25 on December 29, 2025, driven by strong foreign investor buying totaling Rp 2.24 trillion ⁵

. Key gainers included consumer cyclical stocks (+3.70%) and infrastructure stocks (+3.33%) ⁶. Major foreign buys were seen in LPGI (Rp 914.3 billion), DEWA (Rp 576.7 billion), and ANTM (Rp 301.7 billion) ⁵.

Full Analysis

02

Deep Dive Analysis

Indonesian Stock Market Shows Strong Rebound

Market Overview

The Indonesian Composite Index (IHSG) closed 1.25% higher at 8,644.25 on December 29, 2025, marking a significant rebound after previous declines ²

³. This recovery was primarily driven by strong foreign investor activity, with net buys totaling Rp 2.24 trillion across all markets ⁵.

Sector Performance

The market saw broad-based gains across sectors, with ten out of eleven sectors closing in positive territory ⁶

. The consumer cyclical sector led the gains with a 3.70% increase, followed by infrastructure stocks rising 3.33%, and energy stocks up 3.17% ⁶.

Foreign Investor Activity

Foreign investors played a crucial role in the market's recovery, with net buying activity reaching Rp 2.24 trillion ⁵

. The buying was concentrated in specific stocks such as:

PT Lippo General Insurance Tbk (LPGI): Rp 914.3 billion
PT Darma Henwa Tbk (DEWA): Rp 576.7 billion
PT Aneka Tambang Tbk (ANTM): Rp 301.7 billion

Conversely, foreign investors sold significant amounts in:

PT Bumi Resources Tbk (BUMI): Rp 568.6 billion
PT Bank Rakyat Indonesia Tbk (BBRI): Rp 414.3 billion
PT Bank Central Asia Tbk (BBCA): Rp 227.7 billion

Notable Stocks

Among LQ45 stocks, the top gainers were:

PT Alamtri Minerals Indonesia Tbk (ADMR): +15.52%
PT Amman Mineral Internasional Tbk (AMMN): +7.26%
PT Merdeka Battery Materials Tbk (MBMA): +6.42%

While the top losers included:

PT Dian Swastatika Sentosa Tbk (DSSA): -2.79%
PT Semen Indonesia Tbk (SMGR): -1.87%
PT GoTo Gojek Tokopedia Tbk (GOTO): -1.54%

Technical Outlook

Analysts from Phintraco Sekuritas noted that the IHSG's rebound was supported by technical indicators, including a golden cross on the Stochastic RSI and narrowing negative slope on the MACD ⁴

. Reza Diofanda from BRI Danareksa Sekuritas observed that the IHSG's rise was driven by stocks from the Prajogo Pangestu, particularly BRPT, BREN, and CUAN ⁵.

Corporate News

Several significant corporate announcements impacted market sentiment:

KRAS obtained a Rp 4.93 trillion loan facility from Danantara Asset Management, comprising Rp 4.18 trillion working capital loan and Rp 752.81 billion for restructuring purposes ¹
Source 1
https://finance.detik.com/bursa-dan-valas/d-8281815/ihsg-melemah-ke-8-537-kras-dapat-pinjaman-pemegang-saham-soho-tebar-dividen-interim
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SOHO Global Health declared an interim dividend of Rp 33.10 per share, totaling Rp 420.09 billion, reflecting a 95.5% payout ratio from their 9-month 2025 earnings ¹
Source 1
https://finance.detik.com/bursa-dan-valas/d-8281815/ihsg-melemah-ke-8-537-kras-dapat-pinjaman-pemegang-saham-soho-tebar-dividen-interim
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