Jakarta.  Jakarta Composite Index (JCI) opened higher on Monday, gaining 20 points or 0.23% to 8,629, with the benchmark moving in the range of 8,616–8,646 in early trading.

RTI data showed that within the first five minutes, trading volume reached more than 3 billion shares, with turnover at Rp 1.74 trillion ($103.84 million). Transaction frequency exceeded 278,000, with 234 stocks advancing, 265 declining, and 181 unchanged.

Pilarmas Investindo Sekuritas said in its research that foreign investors had returned to net buying in mid-December, led by equities. The inflows were seen as a short-term positive for the JCI as they added liquidity and supported buying interest in large-cap stocks. The sentiment was further supported by a firmer rupiah and a decline in Indonesia’s five-year credit default swap, reflecting lower risk perception and improving investor confidence.

However, Pilarmas noted that continued foreign outflows from government bonds and the strength of the US dollar were expected to limit upside, leaving the index to move selectively and remain volatile, particularly for stocks sensitive to capital flows and interest rate dynamics.

BRI Sekuritas said market direction would also be shaped by year-end dynamics and the release of Indonesia’s M2 money supply data later today, which could serve as an additional catalyst.

CGS International Sekuritas Indonesia highlighted that the continued gains in major Wall Street indices, firmer global commodity prices, and foreign net buying in the JCI during Friday’s session could provide positive momentum. Still, the thinning number of trading days toward year-end could prompt consolidation and profit-taking, while the rupiah’s ongoing weakness against the US dollar remained a potential downside risk.

Overnight, Wall Street stocks advanced for a second straight session on Friday, driven mainly by technology shares, particularly companies linked to artificial intelligence.

The S&P 500 rose 59 points, or 0.9%, to 6,834, posting a weekly gain of 0.1%. The Dow Jones Industrial Average added 183 points, or 0.4%, to 48,134, while the Nasdaq jumped 301.26 points, or 1.3%, to 23,307.62, ending the week up 0.5%. Nvidia climbed 3.9%, providing the biggest boost to the market.

In Asia, Japanese stocks rose after the Bank of Japan raised its benchmark interest rate to the highest level in 30 years, with the Nikkei gaining 1.15% to 50,084. South Korea’s Kospi surged 1.85% to 4,096, Hong Kong’s Hang Seng advanced 0.41% to 25,795, and Shanghai’s SSE Composite added 0.25% to 3,900.

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