印度尼西亚20年期国债 (Indonesia20Y) 加自选

印尼盾兑美元汇率跌至16450左右，为一个月来的最低水平，因为美元指数在美联储鹰派基调后徘徊在两个月高点附近。尽管美联储在7月份的会议上连续第五次保持利率稳定，但主席鲍威尔重申，考虑降息还为时过早，对未来的宽松政策几乎没有明确说明。上周，印尼同意取消99%以上美国商品的关税，并取消对美国公司的非关税壁垒，而美国承诺将印尼产品的关税从32%降至19%，并获得更广泛的市场准入。与此同时，由于全球不确定性加剧、融资条件收紧和出口竞争力下降，2025年第二季度印尼的外国直接投资同比下降近7%，这是自2021年第三季度以来的首次下降，也是近五年来的最大跌幅。与此同时，印尼央行重申了其通过符合基本面的市场干预来稳定印尼盾的承诺。

The Indonesian rupiah weakened to around 16,450 per USD, its lowest in a month, as the U.S. dollar index hovered near a two-month high following the Federal Reserve’s hawkish tone. While the Fed held rates steady for the fifth straight meeting in its July meeting, Chair Powell reiterated that it was too early to consider rate cuts, offering little clarity on future easing. Last week, Indonesia agreed to scrap tariffs on over 99% of U.S. goods and remove non-tariff barriers for American firms, while the U.S. pledged to cut tariffs on Indonesian products to 19% from 32% and gain broader market access. Meanwhile, foreign direct investment into Indonesia fell almost 7% yoy in Q2 2025, the first drop since Q3 2021 and the sharpest fall in nearly five years, amid heightened global uncertainty, tighter financing conditions, and eroding export competitiveness. Meantime, Bank Indonesia reaffirmed its commitment to stabilizing the rupiah through market interventions in line with fundamentals.

2025年第二季度，印尼的外国直接投资（FDI）（不包括金融和石油天然气行业的投资）同比下降6.95%，至202.2万亿印尼盾（123亿美元）的六个季度低点，大幅扭转了上一季度12.7%的增长。这是自2021年第三季度以来外国直接投资的首次下降，也是五年来的最大跌幅。4月至6月期间，外国直接投资的一些最大受益者是贱金属、采矿、服务、运输、仓储和电信行业。新加坡仍然是外国直接投资的最大来源国（42亿美元），其次是香港（23亿美元）和中国（18亿美元）。与此同时，包括国内来源在内的直接投资总额达到477.7万亿印尼盾，同比增长11.5%，创造了665764个就业机会。

Foreign direct investment (FDI) into Indonesia, excluding investments in the financial and oil & gas sectors, dropped by 6.95% year-on-year to a six-quarter low of IDR 202.2 trillion ($12.3 billion) in the second quarter of 2025, sharply reversing a 12.7% rise in the previous quarter. This marked the first decline in foreign direct investment since Q3 2021 and the steepest fall in five years. Some of the biggest beneficiaries of FDI in the April–June period were the base metal, mining, services, transportation, warehousing, and telecommunication industries. Singapore remained the largest source of FDI (USD 4.2 billion), followed by Hong Kong (USD 2.3 billion) and China (USD 1.8 billion). Meanwhile, total direct investment, including domestic sources, reached IDR 477.7 trillion, up 11.5% yoy, creating more than 665,764 jobs.

周四中午，印尼股市上涨64点，涨幅0.9%，至7555点，连续第二个交易日上涨，主要受权重股支撑。IDX综合指数创下2024年10月31日以来的最高水平，突破7500点大关，追随美国-欧盟贸易协定后隔夜华尔街的乐观走势。这些协议也为美国和中国之间达成详细的贸易协议带来了希望，中国是印尼的最大贸易伙伴。IDX综合指数自7月11日以来一直在上涨，但在7月22日星期二因获利回吐而下跌。几乎所有行业都呈绿色交易，金融业领涨，飙升3.3%。表现最好的银行包括Sinar Mas Multiartha（+20%）、MSIG Life（+11.4%）、印尼伊斯兰银行（+4.4%）、BRI（+3.2%）和Mandiri银行（+2.9%）。

Equities in Indonesia rose 64 points, or 0.9%, to 7,555 around noon on Thursday, gaining for a second straight session and supported primarily by heavyweight stocks. The IDX Composite hit its highest level since October 31, 2024, breaking above the 7,500 mark, tracking an upbeat session on Wall Street overnight following US-EU trade agreements. The deals also raised hopes for detailed trade agreements between the US and China—Indonesia's top trading partner. The IDX Composite had been rising since July 11, before experiencing a decline on Tuesday, July 22, amid profit-taking. Nearly all sectors traded in the green, with the financial sector leading the gains, soaring 3.3%. Among the top performers were Sinar Mas Multiartha (+20%), MSIG Life (+11.4%), Bank Syariah Indonesia (+4.4%), BRI (+3.2%), and Bank Mandiri (+2.9%).

周三中午左右，IDX综合指数上涨56点，涨幅0.8%，至7401点，创下12月11日以来的最高水平，并停止了前一交易日的下跌。反弹主要是由权重股推动的。除医疗保健外，所有行业均呈绿色交易。科技板块领涨，飙升3.4%，主要受DCI印尼股票上涨9.0%的推动。值得注意的是，由于累计价格大幅上涨，DCI股票周二暂时停牌。美国和日本之间宣布的贸易协议进一步支持了积极情绪，增加了达成更多协议的希望。IDX综合指数自7月11日以来一直在上涨，但在7月22日星期二因获利回吐而下跌。工业板块也录得强劲涨幅，上涨1.8%。其他表现最佳的公司包括Leyand International（10.0%）、Global Sukses Solusi（9.8%）、Aviana Sinar Abadi（7.5%）和Astra International（4.3%）。

The IDX Composite climbed 56 points, or 0.8%, to 7,401 around noon on Wednesday, marking its highest level since December 11 and halting losses from the previous session. The rebound was mainly driven by heavyweight stocks. All sectors traded in the green, except for healthcare. The technology sector led the gains, surging 3.4%, largely boosted by a 9.0% jump in DCI Indonesia stocks. Notably, DCI shares were temporarily suspended on Tuesday due to a significant cumulative price increase. Positive sentiment was further supported by announcements of trade deals between the US and Japan, raising hopes for additional agreements. The IDX Composite had been rising since July 11, before experiencing a decline on Tuesday, July 22, amid profit-taking. The industrial sector also posted strong gains, rising 1.8%. Other top performers included Leyand International (10.0%), Global Sukses Solusi (9.8%), Aviana Sinar Abadi (7.5%), and Astra International (4.3%).