Monthly Market Summary February 2026

Inflation in February surged by 4.76% year-on-year, and government spending during the first two months of 2026 was recorded at IDR 493 trillion. In early March, Fitch updated Indonesia’s rating outlook from stable to negative while maintaining the country’s credit rating at BBB. Amid inflationary pressures and geopolitical tensions, Indonesian government bonds delivered positive performance in February 2026. The rupiah-denominated government bond index strengthened by 0.4% month-on-month, while the USD-denominated government bond index rose by 1.25% MoM.In the equity market, MSCI Indonesia declined by 1.3% month-on-month, while MSCI Asia ex-Japan and ASEAN increased by 6% and 3.5%, respectively. The Jakarta Composite Index (JCI) weakened by 1.1% month-on-month, amid fiscal pressures highlighted by S\&P Global Ratings. See more in this Monthly Market Summary of February 2026.