Jakarta. Jakarta Composite Index (JCI) closed in the red on Friday, tracking global market weakness after US stocks slipped following a closely watched meeting between President Donald Trump and China’s leader Xi Jinping.

The main index ended at 8,163, down 20.19 points or 0.25 percent, after moving within a range of 8,144 to 8,215 throughout the session.

Total trading volume reached 28.1 billion shares with a turnover of Rp 19.1 trillion ($1.15 billion) across 1.9 million transactions. A total of 272 stocks advanced, 377 declined, and 161 remained unchanged.

Investors weighed the outcome of the Trump–Xi meeting, which concluded with the US agreeing to lower tariffs on certain Chinese goods. However, sentiment remained cautious as data showed China’s manufacturing activity continued to slow, signaling persistent economic headwinds.

“Market participants also reacted to China’s latest economic data and fading expectations for a Fed rate cut by the end of this year,” Pilarmas Investindo Sekuritas said in a note on Friday. The brokerage added that China pledged to curb fentanyl exports, increase purchases of US soybeans, and temporarily halt restrictions on rare earth exports.

Data released Friday by China’s National Bureau of Statistics showed the country’s manufacturing Purchasing Managers’ Index (PMI) fell to 49.0 in October 2025 from 49.8 in September, missing market expectations of 49.6. The reading marked a seventh straight month of contraction and the fastest pace of decline in six months.

“This indicates a slowdown in manufacturing growth, prompting markets to anticipate further stimulus to boost domestic demand,” Pilarmas added.

Across Asia, markets were mixed. Hong Kong’s Hang Seng index lost 1 percent to 26,020, and Shanghai’s Composite index dropped 0.8 percent to 3,954. Japan’s Nikkei 225 was the bright spot, surging 2.1 percent to a record 52,411, after data showed industrial production rose 2.2 percent month-on-month in September, beating expectations. South Korea’s Kospi gained 0.5 percent to 4,107, while Australia’s S&P/ASX 200 edged down 0.1 percent to 8,881.

In the US, Wall Street ended lower overnight. The S&P 500 fell 1 percent to 6,822, the Dow Jones Industrial Average slipped 0.2 percent to 47,522, and the Nasdaq composite dropped 1.6 percent to 23,581.

Trump described his meeting with Xi as a “12 out of 10,” saying he would cut tariffs. Still, stocks had already rallied earlier in the week on optimism for greater progress in easing US – China trade tensions.

At home, the JCI traded choppy throughout the day as investors took profits after a recent rebound in big-cap stocks. “On the other hand, the market is also awaiting the outcome of trade tariff negotiations between the US and Indonesia,” Pilarmas said.

Chief of Economic Affairs Minister Airlangga Hartarto earlier said that Jakarta and Washington will resume tariff talks in November, following a pause during the US government shutdown. Investors are hoping the discussions will result in a mutually beneficial agreement.

On the domestic board, Dwi Guna Laksana (DWGL) led Friday’s top gainers with a 24.86 percent jump, followed by Tower Bersama Infrastructure (TBIG) which rose 24.61 percent, Link Net (LINK) advancing 24.45 percent, and Dana Brata Luhur (TEBE) adding 16.36 percent.

Meanwhile, among the biggest decliners were Pakuan (UANG), which dropped 14.69 percent, Kobexindo Tractors (KOBX) down 11.76 percent, Ketrosden Triasmitra (KETR) falling 11.24 percent, and Sumber Energi Andalan (ITMA) losing 10.60 percent.

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