FROM EQUITY RESEARCH DESK

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MARKET NEWS

Japan 10Y Government Bond Yields Near 2% as Fiscal Concerns and BOJ Tightening Persist

Japan’s 10Y government bond yield hovered near 2% at year-end, marking a sixth consecutive annual surge amid rising concerns over the country’s fiscal trajectory. The newly approved ¥122.3tr budget seeks to balance hefty spending with reduced bond issuance, but Japan’s debt, over twice the size of its economy, keeps borrowing costs highly sensitive to market shifts. On monetary policy, the BOJ’s recent hike to 0.75% signals further tightening ahead, with markets eyeing July for the next move unless yen weakness forces an earlier adjustment. (Trading Economics)

ADRO Declares Interim Dividend of Rp145.14 per Share

ADRO has announced an interim cash dividend for fiscal year 2025 amounting to Rp145.14 per share, implying a dividend yield of 7.97%. The total interim dividend to be distributed reaches Rp4.18 trillion. Eligible shareholders will receive the dividend payment on 15 January 2026. (Kontan)

HRUM Plans Rp335bn Share Buyback

HRUM plans to repurchase its shares with a maximum budget of Rp335bn to support share price stability amid market volatility and enhance shareholder value. The buyback will be conducted without an EGMS, in line with POJK No. 13/2023, and is scheduled for 2 January–1 April 2026, funded entirely from internal cash. (Emiten News)

INCO Halts Operations Pending RKAB 2026

INCO has temporarily suspended all mining operations in its IUPK area due to the pending approval of the 2026 RKAB. Management said the pause is required for regulatory compliance and does not have a material impact on the company’s financial condition, while awaiting approval to resume operations. (Bisnis)