Cermati Invest Weekly Update 12 Januari 2026

Ulasan Pasar

INDONESIA W (-/+) % HARGA
IHSG 2.16% 8,936.75
ISSI 2.44% 220.76
IDX30 0.15% 439.51
FTSE Indonesia 0.98% 3,169.55
MSCI Indonesia 0.39% 6,428.32
Dolar Amerika 0.44% 16,793.30

Provided by Cermati Invest, last update 9 January 2026

IHSG & Saham Pekan Ini

Indeks, pekan lalu IHSG ditutup 8936.75 menguat 2.16% ditopang sentimen domestik dan global. Sektor Non-Cyclicals, Basic-Industry, dan Property mendominasi pasar. Rupiah melemah nyaris ke Rp16.900, sehingga diprediksikan IHSG akan konsolidasi turun sejenak dalam area 8845 (support) — 9028 (resistance). All time high IHSG 9002.92 (8 Jan 2026).

Pekan ini indeks konstituen yang menopang pergerakan IHSG masih Indeks Syariah dengan sektor penggeraknya Consumer Cyclicals, Industri, Basic-Industry, Energi, dan Transportasi. Sejak awal 2026 IHSG bergerak naik (+)3.48%.

Saham, yang dapat diamati: MIRA, NINE, VIVA, ASSA, DSSA, SIDO, DMAS.

Pergerakan Rupiah

Rupiah masih melemah terhadap dolar Amerika, pergerakannya Rp16.770—Rp17.015. Sejak awal 2026, rupiah melemah (-)0.72% terhadap dolar Amerika.

KOMODITAS W (-/+) % HARGA
Emas 4.16% 4,510.45
Perak 11.72% 79.34
Platina 6.07% 2,278.35
Nikel 5.73% 17,715.75
Timah 8.27% 43,694.00
Alumunium 4.13% 3,147.85
Minyak Mentah 2.83% 58.94
Minyak Sawit 0.00% 4,480.00
Gas -12.41% 3.17
Batu Bara 0.70% 107.30
Tembaga 3.72% 12,981.00

Provided by Cermati Invest, last update 9 January 2026

Emas & Kripto

Emas, 

2026 emas all time high US$4601.695 diperkirakan akan naik lebih tinggi menuju US$46877.33 (R1) dan US$4876.441 (R2) per troy ounce.

Dengan nilai tukar rupiah yang melemah terhadap dolar Amerika dan harga emas dunia yang terus naik, maka diperkirakan harga emas di Indonesia akan segera naik lebih tinggi menuju Rp2.550.000—Rp2.611.000 per gramnya. Emas fisik (emas batangan) berkisar Rp2.750.000—Rp2.810.000 per gram.

Harga emas, perak, dan platinum mencatatkan level tertinggi sepanjang sejarah. Sejak awal 2026 harga emas dunia naik (+)5.82%, perak (+)17.71% dan platinum (+)15.6%. Sedangkan emas dalam negeri naik (+)6.69%.

Kripto,

KRIPTO W (-/+) % HARGA
Bitcoin -0.96% 90,590
Etherium -0.93% 3,112.10

Provided by Cermati Invest, last update 9 January 2026

Memasuki tahun 2026, walau masih konsolidasi, tetapi bila berhasil breakout resistan terdekatnya, pasar kripto diperkirakan akan bullish.

Bitcoin (BTC), sejak awal 2026 naik (+)4.48%. Pekan ini masih bergerak sideways dalam area US$87774 (support)—US$96016 (resistance).

Ethereum (ETH), sejak awal 2026 naik (+)6.25%. Pekan ini bergerak sideways dalam area US$2990 (support)—US$3280 (resistance).

Hindari spekulasi berlebihan, gunakan analisis cermat untuk dapat melihat arah minor dan mayor pergerakan kripto. Diversifikasi dan gunakan stablecoin untuk lindung nilai menghadapi volatilitas.

REGIONAL W (-/+) % HARGA
Dow Jones 2.32% 49,504.07
S&P 500 1.57% 6,966.28
FTSE 100 1.74% 10,124.60
DAX 2.94% 25,261.64
Nikkei 225 1.46% 51,939.89
Hang Seng -0.41% 26,231.79
CSI 300 2.79% 4,758.92
KOSPI 6.42% 4,586.32

Provided by Cermati Invest, last update 9 January 2026

Reksa Dana

Mengawali tahun 2026, pilihan reksa dananya berdasarkan performa terbaik sejak awal tahun, pilihan terbaik untuk:

Surat Berharga

Prospek pasar Surat Berharga Negara (SBN) dan obligasi korporasi pada 2026 diproyeksikan tetap positif, seiring berlanjutnya siklus pelonggaran moneter global yang dipicu potensi pemangkasan suku bunga The Fed dan bank sentral utama dunia. Beberapa pilihan surat berharga dapat dicermati pada tabel.

Pekan Singkat Perdagangan, Pasar Keuangan RI Waspadai Dinamika Global

Pasar keuangan Indonesia pekan ini hanya beroperasi selama empat hari, yakni Senin hingga Kamis, seiring libur Isra Mikraj pada Jumat. Dengan waktu perdagangan yang relatif singkat, pelaku pasar perlu mencermati sejumlah sentimen baik dalam jangka pendek maupun sepekan ke depan.

Dari dalam negeri, sentimen pasar dipengaruhi oleh kondisi makroekonomi dan kebijakan. Data Badan Pusat Statistik (BPS) menunjukkan inflasi konsumen tetap terkendali, dengan inflasi bulanan Desember 2025 sebesar 0.64% dan inflasi tahunan tercatat 2.92%. Selain itu, neraca perdagangan Indonesia kembali membukukan surplus US$2,66 miliar pada November 2025, memperpanjang tren surplus sejak Mei 2020.

Dari sisi fiskal, pemerintah telah merilis APBN 2026 dengan target pendapatan Rp3.842,7 triliun dan belanja Rp3.153,6 triliun, sehingga defisit dirancang sebesar 2.68% terhadap PDB.

Sementara itu, Otoritas Jasa Keuangan (OJK) mengimbau lembaga keuangan untuk tetap mewaspadai potensi risiko dari konflik geopolitik global, meski sejauh ini belum terlihat dampak signifikan dalam jangka pendek. Dari kawasan regional, perhatian pelaku pasar juga tertuju pada meningkatnya ketidakpastian geopolitik serta sentimen yang dipengaruhi oleh rilis data inflasi Amerika Serikat pada pekan ini.

Performance IHSG, XAUUSD (Gold), BTCUSD (Bitcoin) & USDIDR since Jan 2025 (YtD)

Reksa Dana

                Inception  
Reksa Dana PASAR UANG NAV 1Bln 3Bln 6Bln YTD 1Th 3Th % Tanggal AUM
HPAM Ultima Money Market 1700.2135 0.49% 1.35% 2.78% 0.10% 5.52% 16.03% 70.02% 10 Jun 2015 965.08 B
SAM Dana Kas 1507.1723 0.43% 1.21% 2.90% 0.10% 5.58% 14.36% 50.72% 10 Feb 2017 55.99 B
Setiabudi Dana Pasar Uang 1588.9286 0.42% 1.28% 2.65% 0.10% 5.48% 16.57% 58.89% 23 Dec 2016 544.42 B
Syailendra Dana Kas 1775.4545 0.42% 1.28% 2.70% 0.09% 5.33% 15.26% 77.55% 12 Jun 2015 2.99 T
BNI-AM Dana Likuid Kelas A 1999.95 0.41% 1.13% 2.57% 0.08% 5.21% 14.00% 100.00% 27 Dec 2012 502.39 B
Insight Money Syariah 1731.7682 0.41% 1.35% 2.91% 0.09% 5.98% 17.96% 73.18% 30 Sep 2015 187.11 B
Trimegah Kas Syariah 1502.0959 0.41% 1.21% 2.52% 0.08% 5.23% 15.70% 50.21% 30 Dec 2016 1.73 T
Insight Retail Cash Fund 1676.9888 0.40% 1.32% 2.74% 0.09% 6.15% 17.10% 67.70% 13 Apr 2018 225.80 B
Bahana Likuid Syariah Kelas G 1268.7 0.39% 1.23% 2.50% 0.09% 5.19% 15.37% 26.87% 12 Jul 2016 515.80 B
BRI Seruni Pasar Uang III 1853.0881 0.39% 1.21% 2.56% 0.09% 5.30% 15.62% 85.31% 16 Feb 2010 3.55 T
BRI Seruni Pasar Uang Syariah 1402.9258 0.39% 1.18% 2.55% 0.09% 5.37% 16.22% 40.29% 19 Jul 2018 1.83 T
Danakita Stabil Pasar Uang 1694.3 0.38% 1.19% 2.58% 0.08% 5.13% 15.28% 69.43% 10 Sep 2015 66.76 B
TRIM Kas 2 Kelas A 1999.1229 0.38% 1.19% 2.48% 0.08% 5.29% 15.58% 99.91% 8 Apr 2008 8.17 T
Cipta Dana Cash 1810.05 0.35% 1.23% 2.86% 0.08% 5.85% 16.95% 81.01% 8 Jun 2015 547.10 B

Provided by Cermati Invest, last update 9 January 2026

                Inception  
Reksa Dana PENDAPATAN TETAP NAV 1Bln 3Bln 6Bln YTD 1Th 3Th % Tanggal AUM
BRI Brawijaya Abadi Pendapatan Tetap 1523.824 0.81% 1.47% 5.69% -0.18% 13.03% 19.80% 52.38% 25 Feb 2019 120.60 B
BNI-AM Pendapatan Tetap Quality Long Duration Fund 1685.29 0.80% 1.40% 4.63% -0.04% 9.23% 17.12% 74.56% 16 Jun 2016 20.30 B
Cipta Bond 1945.58 0.78% 1.04% 3.71% -0.15% 9.28% 16.41% 94.56% 2 Jan 2019 111.39 B
Sequis Bond Optima 1606.6684 0.77% 0.72% 4.27% -0.03% 9.47% 15.03% 60.67% 8 Sep 2016 55.67 B
BRI Melati Pendapatan Utama 2050.2547 0.75% 1.29% 5.35% -0.02% 10.20% 17.78% 105.03% 27 Sep 2012 186.72 B
Principal Total Return Bond Fund 2714.63 0.75% 1.14% 4.80% 0.03% 10.29% 13.57% 179.05% 21 Aug 2008 13.91 B
Eastspring IDR Fixed Income Fund Kelas A 1892.26 0.73% 1.07% 4.81% 0.02% 10.29% 17.95% 89.23% 16 Mar 2015 192.59 B
Eastspring Investments IDR High Grade Kelas A 1691.41 0.72% 0.72% 4.48% -0.12% 10.50% 18.15% 78.76% 9 Jan 2013 10.09 T
Syailendra Fixed Income Fund Kelas A 2806.88 0.71% 0.31% 4.45% -0.14% 9.84% 18.47% 180.69% 8 Dec 2011 191.08 B
BNI-AM Short Duration Bonds Index Kelas R1 1111.17 0.68% 0.11% 4.34% -0.12% 10.01% 19.02% 15.53% 1 Sep 2022 218.76 B
HPAM Government Bond 1686.7296 0.63% 0.61% 4.67% -0.24% 11.05% 21.23% 76.17% 18 May 2016 29.04 B
Eastspring Investments Yield Discovery Kelas A 1672.37 0.56% 0.40% 4.41% -0.09% 9.00% 14.16% 72.71% 29 May 2013 108.71 B
Insight Renewable Energy Fund 2517.2329 0.46% 1.60% 5.40% 0.10% 9.67% 24.79% 151.72% 22 Jun 2011 1.70 T
Insight Haji Syariah 5560.5265 0.43% 1.53% 5.12% 0.10% 9.71% 25.74% 456.05% 13 Jan 2005 2.55 T

Provided by Cermati Invest, last update 9 January 2026

                Inception  
Reksa Dana CAMPURAN NAV 1Bln 3Bln 6Bln YTD 1Th 3Th % Tanggal AUM
TRIM Kombinasi 2 3627.9 12.85% 12.03% 33.76% 5.05% 37.11% 46.51% 262.79% 10 Nov 2006 50.85 B
TRIM Syariah Berimbang 4379.81 12.76% 14.27% 35.09% 5.41% 36.03% 48.30% 337.98% 27 Dec 2006 80.47 B
Trimegah Balanced Absolute Strategy Kelas A 2377.12 9.52% 9.08% 31.40% 4.65% 36.24% 49.73% 137.71% 28 Dec 2018 565.67 B
Bahana Primavera 99 Kelas G 1420.47 8.55% 15.20% 20.90% 2.60% 19.60% 13.68% 42.05% 5 Sep 2014 22.70 B
Syailendra Balanced Opportunity Fund 4782.85 7.41% 16.64% 44.07% 4.31% 48.27% 56.59% 378.29% 22 Apr 2008 263.78 B
Bahana Primavera Plus 14902.74 4.19% 11.14% 29.17% 2.22% 33.29% 9.85% 1390.27% 27 May 1997 84.90 B

Provided by Cermati Invest, last update 9 January 2026

                Inception  
Reksa Dana SAHAM NAV 1Bln 3Bln 6Bln YTD 1Th 3Th % Tanggal AUM
TRIM Syariah Saham 2532.65 15.32% 16.48% 43.38% 7.54% 44.10% 37.78% 153.27% 27 Dec 2006 130.63 B
BRI Syariah Saham 932.2791 10.21% 15.51% 32.24% 3.80% 32.80% 10.25% -6.77% 18 Sep 2014 15.35 B
BRI Mawar Konsumer 10 Kelas A 1637.6854 8.81% 13.89% 21.32% 3.76% 11.50% 5.92% 63.77% 16 Feb 2011 184.17 B
Bahana Primavera 99 Kelas G 1420.47 8.55% 15.20% 20.90% 2.60% 19.60% 13.68% 42.05% 5 Sep 2014 22.70 B
Principal Total Return Equity Fund Kelas O 3816.27 7.57% 10.44% 22.89% 3.46% 23.33% 14.60% 281.63% 1 Jul 2005 23.59 B
UOBAM Sustainable Equity Indonesia 1060.5 7.18% 7.64% 24.14% 2.51% 14.99% 10.21% 6.05% 4 Aug 2021 41.11 B
TRIM Kapital Plus 5218.88 7.12% 8.63% 21.85% 4.17% 18.70% 36.04% 421.89% 18 Apr 2008 504.57 B
Principal Islamic Equity Growth Syariah 1442.56 6.36% 7.15% 24.31% 3.87% 28.56% 18.80% 44.26% 10 Sep 2007 73.04 B
Bahana Primavera Plus 14902.74 4.19% 11.14% 29.17% 2.22% 33.29% 9.85% 1390.27% 27 May 1997 84.90 B
SAM Indonesian Equity Fund 2979.3 2.70% 19.55% 55.59% 5.31% 50.74% 79.18% 254.90% 18 Oct 2011 918.50 B

Provided by Cermati Invest, last update 9 January 2026

                Inception  
Reksa Dana USD NAV 1Bln 3Bln 6Bln YTD 1Th 3Th % Tanggal AUM
Eastspring Syariah Equity Islamic Asia Pacific USD Kelas A 1.671817 6.63% 12.78% 46.24% 1.48% 77.48% 67.71% 67.18% 28 Oct 2016 2.88 M
Eastspring Syariah Greater China Equity USD Kelas A 0.761995 2.92% -2.18% 16.91% 1.45% 26.77% 2.65% -23.80% 15 Jun 2020 7.81 M
Batavia Global ESG Sharia Equity USD 1.2902 1.09% 1.68% 7.10% 0.90% 11.61% 32.78% 29.02% 27 Jan 2021 10.63 M
BRI G20 Sharia Equity Fund Dollar 1.2796 1.56% 0.61% 3.77% 0.47% 6.82% 25.67% 27.96% 3 Dec 2019 1.16 M
STAR Fixed Income Dollar 1.074325 0.32% 0.97% 2.45% 0.07% 4.35% 16.95% 7.43% 10 Jul 2017 14.08 M
Eastspring Syariah Fixed Income USD Kelas A 0.967854 0.25% 0.35% 1.11% 0.02% 4.45% 8.48% -0.24% 8 Mar 2021 11.79 M
Batavia USD Bond Fund 1.0687 0.24% 0.33% 1.39% 0.01% 4.72% 4.23% 6.87% 18 Oct 2022 29.49 M
BRI Melati Premium Dollar 1.460189 -0.02% 0.32% 2.76% -0.29% 7.55% 8.86% 46.02% 19 Feb 2007 1.95 M
Batavia Technology Sharia Equity USD 1.3003 -2.55% -1.85% 7.52% -0.56% 9.92% 92.55% 30.03% 16 Feb 2022 107.61 M

Provided by Cermati Invest, last update 9 January 2026

Surat Utang/Obligasi

NAMA OBLIGASI ISIN MATA UANG KUPON JATUH TEMPO HARGA BELI HARGA JUAL YIELD RATING
FR0103 IDG000024506 IDR 6.75% 15-Jul-35 104 103 6.19% BBB
FR0097 IDG000020900 IDR 7.13% 15-Jun-43 106 105 6.54% BBB
PBS005 IDP000001505 IDR 6.75% 15-Apr-43 101.95 100.95 6.56% BBB
BWPT01BCN2 IDA0001522B2 IDR 11.00% 26-Feb-28 101 100 10.56% idA-
INKP05BCN1 IDA0001485B2 IDR 10.75% 4-Oct-29 101.25 100.25 10.38% idA+
Provided by Cermati Invest, last update 9 January 2026
Tuesday, 13 January 2026 Previous Consensus Forecast
6:50 AM JP Current Account NOV ¥2834B ¥3594B ¥3300.0B
7:01 AM GB BRC Retail Sales Monitor YoY DEC 1.2% 0.6% 0.9%
8:15 PM US ADP Employment Change Weekly 11.5K    
8:30 PM US Core Inflation Rate MoM DEC   0.3% 0.2%
8:30 PM US Core Inflation Rate YoY DEC 2.6% 2.7% 2.6%
8:30 PM US Inflation Rate MoM DEC   0.3% 0.2%
8:30 PM US Inflation Rate YoY DEC 2.7% 2.7% 2.6%
8:30 PM US CPI DEC 324.12   323.8
8:30 PM US CPI s.a DEC 325.031   325.7
Wednesday, 14 January 2026 Previous Consensus Forecast
2:00 AM US Monthly Budget Statement DEC $-173B   $-250.0B
4:30 AM US API Crude Oil Stock Change JAN/09 -2.8M    
10:00 AM CN Balance of Trade DEC $111.68B $113.5B $ 105B
10:00 AM CN Exports YoY DEC 5.9% 2.9%  
10:00 AM CN Imports YoY DEC 1.9% 0.8%  
7:00 PM US MBA 30-Year Mortgage Rate JAN/09 6.3%    
8:30 PM US PPI MoM OCT 0.3%   0.3%
8:30 PM US PPI MoM NOV   0.3% 0.2%
8:30 PM US Retail Sales MoM NOV 0.0% 0.4% 0.3%
8:30 PM US Core PPI MoM NOV   0.2% 0.2%
8:30 PM US Core PPI MoM OCT 0.1%   0.2%
8:30 PM US Current Account Q3 $-251.3B $-240B $ -250.0B
8:30 PM US Retail Sales Control Group MoM NOV 0.8%   0.1%
8:30 PM US Retail Sales Ex Autos MoM NOV 0.4% 0.4% 0.1%
10:00 PM US Existing Home Sales DEC 4.13M 4.2M 4.06M
10:00 PM US Business Inventories MoM OCT 0.2% 0.3% 0.1%
10:00 PM US Existing Home Sales MoM DEC 0.5%   -1.6%
10:30 PM US EIA Crude Oil Stocks Change JAN/09 -3.831M    
10:30 PM US EIA Gasoline Stocks Change JAN/09 7.702M    
  CN New Yuan Loans DEC CNY390B CNY800B CNY910.0B
Thursday, 15 January 2026 Previous Consensus Forecast
7:01 AM GB RICS House Price Balance DEC -16.0% -15.0% -16.0%
2:00 PM DE Wholesale Prices MoM DEC 0.3% 0.2% 0.2%
2:00 PM DE Wholesale Prices YoY DEC 1.5%   1.6%
2:00 PM GB GDP MoM NOV -0.1% 0.0% -0.1%
2:00 PM GB GDP 3-Month Avg NOV -0.1% -0.2% -0.1%
2:00 PM GB Goods Trade Balance NOV £-22.54B £-20B £-19.8B
2:00 PM GB Goods Trade Balance Non-EU NOV £-10.26B   £-9.1B
2:00 PM GB Industrial Production MoM NOV 1.1% 0.1% 1.0%
2:00 PM GB Manufacturing Production MoM NOV 0.5% 0.5% 0.4%
4:00 PM DE Full Year GDP Growth 2025 -0.2%   0.2%
8:30 PM US Export Prices MoM NOV     0.1%
8:30 PM US Import Prices MoM NOV   -0.2% 0.1%
8:30 PM US Initial Jobless Claims JAN/10 208K 208K 212.0K
8:30 PM US NY Empire State Manufacturing Index JAN -3.9 1.0 1.0
8:30 PM US Philadelphia Fed Manufacturing Index JAN -10.2 -5.0 -8.0
Friday, 16 January 2026 Previous Consensus Forecast
4:00 AM US Net Long-term TIC Flows NOV $17.5B    
9:15 PM US Industrial Production MoM DEC 0.2% 0.2% 0.3%
11:00 PM RU Inflation Rate MoM DEC 0.4%   0.5%
11:00 PM RU Inflation Rate YoY DEC 6.6%   5.8%
  US NAHB Housing Market Index JAN 39 40 39
Source: BI, CNBC Indonesia, Bloomberg, Investing, Trading Economics, KSEI, Cermati, Artha Investa Teknologi (AIT), Stockwatch.id.

Disclaimer:
Dokumen ini dibuat hanya untuk memberikan informasi. Isi dokumen ini tidak boleh ditafsirkan sebagai suatu bentuk penawaran untuk membeli/menjual/dijadikan dasar dari atau yang dapat dijadikan pedoman sehubungan dengan suatu perjanjian atau komitmen apa pun atau suatu nasehat investasi.

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