{"id":13325,"date":"2026-01-26T00:00:00","date_gmt":"2026-01-25T17:00:00","guid":{"rendered":"https:\/\/beta.toffeedev.com\/mandiri-new\/uncategorized\/weekly-market-recap-19-23-jan-2026\/"},"modified":"2026-01-26T00:00:00","modified_gmt":"2026-01-25T17:00:00","slug":"weekly-market-recap-19-23-jan-2026","status":"publish","type":"post","link":"https:\/\/beta.toffeedev.com\/mandiri-new\/en\/articles\/weekly-market-recap-19-23-jan-2026\/","title":{"rendered":"Weekly Market Recap 19 &#8211; 23 January 2026"},"content":{"rendered":"<p style=\"font-weight: 400;\"><strong><u><span data-ogsc=\"black\">Market Summary:<\/span><\/u><\/strong><\/p>\n<ul>\n<li data-start=\"183\" data-end=\"312\">\n<p data-start=\"185\" data-end=\"312\"><strong data-start=\"185\" data-end=\"203\">Global Equity:<\/strong> <span data-olk-copy-source=\"MessageBody\">Market volatility increased surrounding the back and forth on US-EU trade tension. S&amp;P500 -0.35% while Nasdaq -0.06%<\/span><\/p>\n<\/li>\n<li data-start=\"313\" data-end=\"491\">\n<p data-start=\"315\" data-end=\"491\"><strong data-start=\"315\" data-end=\"335\">Domestic Equity:<\/strong> <span data-olk-copy-source=\"MessageBody\">Indonesia faced correction on the back of weakening IDR and domestic concerns. JCI -0.92% while IDX80 -1.49%. Market posted a net outflow of IDR 3.25 tn<\/span><\/p>\n<\/li>\n<li data-start=\"492\" data-end=\"578\">\n<p data-start=\"494\" data-end=\"578\"><strong data-start=\"494\" data-end=\"519\">Domestic Bond Market:<\/strong> : <span data-olk-copy-source=\"MessageBody\">IndoGB corrected to 6.4%. Foreign outflow was IDR -4.6 tn WoW.<\/span><\/p>\n<\/li>\n<\/ul>\n<p> &nbsp;<\/p>\n<p style=\"font-weight: 400;\"><strong><u><span data-ogsc=\"black\">Key News of The Week:<\/span><\/u><\/strong><\/p>\n<ul>\n<li dir=\"ltr\" role=\"presentation\"><b data-olk-copy-source=\"MessageBody\">Trump backpedaled on European tariffs<\/b>\u00c2 after framework of a deal regarding Greenland is reached.<\/li>\n<li role=\"presentation\"><b data-olk-copy-source=\"MessageBody\">US PCE inflation in line\u00c2 <\/b>at 2.8% YoY and showed that US consumer spending increased 3.1% QoQ. This would support a stronger 4Q25 US economic growth.<\/li>\n<li role=\"presentation\"><b data-olk-copy-source=\"MessageBody\">IMF turns upbeat on Indonesia<\/b>, forecasting a 5.1% growth in 2026 (vs October: 4.9%) as it upgrades global economic growth forecast.<\/li>\n<li role=\"presentation\"><b data-olk-copy-source=\"MessageBody\">Speculation on BI independence\u00c2 <\/b>increased as narrative floated of a possible switch between Vice Minister of Finance Thomas Djiwandono and BI Deputy Governor Juda Agung<\/li>\n<li role=\"presentation\"><b data-olk-copy-source=\"MessageBody\">Bank Indonesia held the BI rate\u00c2 <\/b>at 4.75% and\u00c2 <b>BI to Increase SRBI issuance to IDR 39.7 tn<\/b>\u00c2 (prev: IDR 7 tn). This creates question on monetary-fiscal coordination as pro growth policy is contradicted by tightening gesture.<\/li>\n<li role=\"presentation\"><b data-olk-copy-source=\"MessageBody\">28 resource companies\u00e2\u20ac\u2122 permits was revoked\u00c2 <\/b>due to non compliance to environmental regulations. UNTR\u00e2\u20ac\u2122s Martabe gold mine was amongst the revoked permits.<\/li>\n<\/ul>\n<p style=\"font-weight: 400;\"><strong><u><span data-ogsc=\"black\">Summary &amp; Recommendation<\/span><\/u><\/strong><\/p>\n<div dir=\"ltr\" data-olk-copy-source=\"MessageBody\">\n<div dir=\"ltr\" data-olk-copy-source=\"MessageBody\">With the recent pullback on Indonesian equities, we remain positive on Indonesia as its economy is set to grow from a mix of better global economic backdrop and rollout of social and priority program spending.<\/div>\n<div dir=\"ltr\">We maintained a positive outlook on equity with a barbell approach between growth and hedges. We position a 3-5% cash portion to take opportunities amidst volatility and flow-related catalysts.<\/div>\n<\/p><\/div>\n<p style=\"font-weight: 400;\"><span data-ogsc=\"black\">\u00c2 <\/span><\/p>\n<p style=\"font-weight: 400;\"><strong><u><span data-ogsc=\"black\">Product recommendation<\/span><\/u><\/strong><span data-ogsc=\"black\">:\u00c2 <\/span><\/p>\n<p style=\"font-weight: 400;\"><span data-olk-copy-source=\"MessageBody\">RD MITRA, RD ASEAN5, RD MISB, RD MIDU, RD MIDSYA, RD MMUSD, RD IDAMAN<\/span><\/p>\n<p> &nbsp;<\/p>\n<p> Discover a detailed analysis of this week\u00e2\u20ac\u2122s market performance in our comprehensive Weekly Market Recap: <a href=\"https:\/\/www.mandiri-investasi.co.id\/wp-content\/uploads\/2026\/01\/Mandiri-Investasi-Weekly-Market-Recap-5-9-Jan-2026.pdf\"><strong data-start=\"460\" data-end=\"473\">Read More<\/strong><\/a><\/p>\n<p> &nbsp;<\/p>\n<hr \/>\n<p> &nbsp;<\/p>\n<table class=\"table table-striped table-bordered\">\n<thead>\n<tr>\n<th>PRODUCT<\/th>\n<th>3M PERFORMANCE<\/th>\n<th>YTD PERFORMANCE<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/www.bloomberg.com\/quote\/JCI:IND\" target=\"_blank\" rel=\"noopener\">JCI<\/a><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">8.18%<\/span><\/span><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">3.52%<\/span><\/span><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.bloomberg.com\/quote\/LQ45:IND\" target=\"_blank\" rel=\"noopener\">LQ45<\/a><\/td>\n<td><span class=\"gain\">+5.49%<\/span><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">3.19%<\/span><\/span><\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td colspan=\"3\"><strong>EQUITY<\/strong><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/saham\/mandiri-investa-atraktif-mitra-kelas-a\/?utm_source=weekly-market-recap\" target=\"_blank\" rel=\"noopener\">MITRA A<\/a><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">10.12%<\/span><\/span><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">4.26%<\/span><\/span><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/saham\/mandiri-investa-cerdas-bangsa-micb-kelas-a\/?utm_source=weekly-market-recap\" target=\"_blank\" rel=\"noopener\">MICB A<\/a><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">8.35%<\/span><\/span><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">4.16%<\/span><\/span><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/en\/products\/mutual-fund\/equity-fund\/mandiri-investa-equity-asean-5-plus-asean-5\/?utm_source=weekly-market-recap\" target=\"_blank\" rel=\"noopener\">ASEAN5<\/a><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">9.69%<\/span><\/span><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">4.21%<\/span><\/span><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/syariah\/mandiri-global-sharia-equity-dollar-mgsed-kelas-a\/?utm_source=weekly-market-recap\" target=\"_blank\" rel=\"noopener\">MGSED<\/a><\/td>\n<td>+<span data-olk-copy-source=\"MessageBody\">2.09%<\/span><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">2.85%<\/span><\/p>\n<p> <\/span><\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td colspan=\"3\"><strong>INDEX<\/strong><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/indeks\/mandiri-indeks-ftse-indonesia-esg-kelas-a\/?utm_source=weekly-market-recap\" target=\"_blank\" rel=\"noopener\">FTSE ESG A<\/a><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">1.95%<\/span><\/span><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">0.80%<\/span><\/span><\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td colspan=\"3\"><strong>ETF<\/strong><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/en\/products\/mutual-fund\/etf\/mandiri-etf-lq45\/?utm_source=weekly-market-recap\" target=\"_blank\" rel=\"noopener\">XMLF<\/a><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">5.71%<\/span><\/span><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">3.24%<\/span><\/span><\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td colspan=\"3\"><strong>BALANCED<\/strong><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/syariah\/mandiri-investa-syariah-berimbang-misb\/?utm_source=weekly-market-recap\" target=\"_blank\" rel=\"noopener\">MISB<\/a><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">8.70%<\/span><\/span><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">4.53%<\/span><\/span><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/campuran\/mandiri-investa-aktif-mia\/?utm_source=weekly-market-recap\" target=\"_blank\" rel=\"noopener\">MIA<\/a><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">8.36%<\/span><\/span><\/td>\n<td><span class=\"gain\">+ <span data-olk-copy-source=\"MessageBody\">3.59%<\/span><\/span><\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\"><strong>FIXED INCOME<\/strong><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/reksa-dana\/pendapatan-tetap\/mandiri-investa-dana-utama-midu\/?utm_source=weekly-market-recap\" target=\"_blank\" rel=\"noopener\">MIDU A<\/a><\/td>\n<td><span class=\"gain\"><span data-olk-copy-source=\"MessageBody\">-0.14%<\/span><\/span><\/td>\n<td><span class=\"gain\"><span data-olk-copy-source=\"MessageBody\">-0.38%<\/span><\/span><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/pendapatan-tetap\/mandiri-investa-dana-obligasi-seri-ii-mido-ii\/?utm_source=weekly-market-recap\" target=\"_blank\" rel=\"noopener\">MIDO2<\/a><\/td>\n<td><span class=\"gain\"><span data-olk-copy-source=\"MessageBody\">-0.74%<\/span><\/span><\/td>\n<td><span class=\"gain\"><span data-olk-copy-source=\"MessageBody\">-0.79%<\/span><\/span><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/pendapatan-tetap\/investa-dana-dollar-mandiri-idaman\/?utm_source=weekly-market-recap\" target=\"_blank\" rel=\"noopener\">IDAMAN A<\/a><\/td>\n<td><span data-olk-copy-source=\"MessageBody\">-1.07%<\/span><\/td>\n<td><span data-olk-copy-source=\"MessageBody\">-0.67%<\/span><\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\"><strong>MONEY MARKET<\/strong><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/pasar-uang\/mandiri-investa-pasar-uang-mipu-a-2\/?utm_source=weekly-market-recap\" target=\"_blank\" rel=\"noopener\">MIPU A<\/a><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">1.00%<\/span><\/span><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">0.22%<\/span><\/span><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/pasar-uang\/mandiri-money-market-usd-mmusd\/?utm_source=weekly-market-recap\" target=\"_blank\" rel=\"noopener\">MMUSD<\/a><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">0.66%<\/span><\/span><\/td>\n<td><span class=\"gain\">+<span data-olk-copy-source=\"MessageBody\">0.16%<\/span><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p> *The data above is as of January 23rd, 2026<\/p>\n<hr \/>\n<h3 id=\"info-lebih-lanjut\"><strong>For More Information<\/strong><\/h3>\n<p> Contact Mandiri Investasi &#8211; (021) 526 3505<\/p>\n<p> Email Mandiri Investasi &#8211; <a rel=\"noopener\">cs@mandiri-investasi.co.id<\/a><\/p>\n<p> Mandiri Investasi &#8211; <a href=\"http:\/\/www.mandiri-investasi.co.id\" target=\"_new\" rel=\"noopener\">mandiri-investasi.co.id<\/a><\/p>\n<hr \/>\n<p> &nbsp;<\/p>\n<p> <em>DISCLAIMER<\/em>\u00e2\u20ac\u0152<\/p>\n<p> \u00e2\u20ac\u0152<em>\u00e2\u20ac\u0152<\/em><\/p>\n<p> <em>The information and opinions expressed in this article are for general informational purposes only and are not intended as specific advice or recommendations for any individual, security, or investment product. The content is meant to provide education about the financial industry. Opinions and views presented may change without prior notice. <\/em><em>All performance data and investment returns mentioned in this article should not be used as a guarantee or basis for decisions to buy or sell any securities. The data reflects historical performance and does not guarantee future results. <\/em><em>Investing in mutual funds carries risks. Investors are advised to carefully read and understand the prospectus before making any investment decisions.<\/em><\/p>\n<p> <i>\u00c2 <\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indonesian markets corrected amid global volatility, while the economic outlook remains supported by policy and fiscal spending.<\/p>\n","protected":false},"author":1,"featured_media":13253,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[366,381,382,420],"tags":[],"class_list":["post-13325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-market-update"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Weekly Market Recap 19 - 23 January 2026 - Mandiri Investasi<\/title>\n<meta name=\"description\" content=\"Indonesian markets corrected amid global volatility, while the economic outlook remains supported by policy and fiscal spending.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Weekly Market Recap 19 - 23 January 2026 - Mandiri Investasi\" \/>\n<meta property=\"og:description\" content=\"Indonesian markets corrected amid global volatility, while the economic outlook remains supported by policy and fiscal spending.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/beta.toffeedev.com\/mandiri-new\/en\/articles\/weekly-market-recap-19-23-jan-2026\/\" \/>\n<meta property=\"og:site_name\" content=\"Mandiri Investasi\" \/>\n<meta property=\"article:published_time\" content=\"2026-01-25T17:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/beta.toffeedev.com\/mandiri-new\/wp-content\/uploads\/2026\/07\/Gambar-Artikel-WMR-Market-Macro-etc.-1000x605px-5.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"605\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"toffeedev\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"toffeedev\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/beta.toffeedev.com\\\/mandiri-new\\\/en\\\/articles\\\/weekly-market-recap-19-23-jan-2026\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/beta.toffeedev.com\\\/mandiri-new\\\/en\\\/articles\\\/weekly-market-recap-19-23-jan-2026\\\/\"},\"author\":{\"name\":\"toffeedev\",\"@id\":\"https:\\\/\\\/beta.toffeedev.com\\\/mandiri-new\\\/en\\\/#\\\/schema\\\/person\\\/c57d120b9c9ecc696004f17a01098a8e\"},\"headline\":\"Weekly Market Recap 19 &#8211; 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