Indonesia's Motorbike Sales Rose 3% YoY in Apr-25

MACROECONOMY
Indonesia FX Reserves Dropped to USD 152.5 bn in Apr-25 

Indonesia's foreign exchange reserves declined to USD 152.5 bn in April (vs Mar-25; USD 157.1 bn), due to external debt repayments and FX stabilization efforts. Reserves remain sufficient to cover 6.4 months of imports or 6.2 months of imports and external debt, well above the 3-month adequacy threshold. (Trading Economics)

INDUSTRY 
Indonesia's Motorbike Sales Rose 3% YoY in Apr-25 

Motorbike sales in Indonesia reached 406,691 units in Apr-25 (+3.0% YoY), rebounding from a 7.2% decline in Mar-25 as post-Eid activity normalized. However, sales dropped -24.9% MoM in Apr-25, following a -6.8% decline in Mar-25, driven by weak purchasing power amid layoffs and a new motorbike tax effective in 2025. AISI targets 6.4–6.7 mn units for FY25 but plans to revise its outlook due to the new tax and broader economic pressures. (Trading Economics)

COMPANY
IDX Introduced New Liquidity Provider Rules to Boost Market Efficiency 
IDX officially implemented Regulation III-Q on 08 May-25, setting requirements for broker-dealers to serve as liquidity providers in stock trading. To qualify, broker-dealers must have a minimum IDR 100 bn in Adjusted Net Working Capital (MKBD), maintain internal SOPs, and ensure continuous buy and sell order quotations on designated stock. (Bisnis.com) 

Astra International (ASII) Set IDR 28 Tn Capex for 2025 
ASII allocated IDR 28 tn capex for 2025, but may revise it down to IDR 25 tn or lower due to weakening domestic purchasing power and global economic uncertainty. As of 1Q25, capex realization reached IDR 4.5 tn. Astra saw strong growth in new investments like Heartology and HEAL, though early-stage contributions remain minimal. (Kontan