Panin Asset Management director Rudiyanto has outlined the market factors he expects to matter to Indonesian capital market investors toward the end of 2026. He projects the Jakarta Composite Index (IHSG) to trade in a range of 5,000 to 5,500 index points by year-end.
Market cleanup and rates
Rudiyanto pointed to the clean-up of market practices following an assessment by MSCI. The exchange authority is taking steps to remove unhealthy trading, he said in an interview broadcast on CNBC Indonesia’s Squawk Box programme.
He also flagged the direction of policy rates. The Fed and Bank Indonesia could both raise rates at the end of 2026, according to his remarks.
Oil and geopolitics
Rudiyanto linked oil prices to the outcome of the US midterm elections that week. The Republican Party, which backs President Donald Trump, lost. He expects the result to ease Middle East tension and bring oil prices down.
He described bonds and fixed-income mutual funds as cheap. Healthcare and consumer goods stocks are his preferred sectors.
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Source: Panin Asset Management
