Jakarta. Jakarta Composite Index (JCI) closed lower on Wednesday, shedding 46.87 points, or 0.55%, to finish at 8,537 after moving within a range of 8,525 to 8,611.

Trading activity remained solid, with volume reaching 34.16 billion shares and turnover amounting to Rp 22.29 trillion ($1.33 billion). Transaction frequency topped 2.5 million, with 247 stocks advancing, 403 declining, and 152 closing flat.

Among the day’s top gainers, Magna Finance (MGNA) surged 34.59%, followed by Bumi Citra Permai (BCIP) which jumped 27.14%. Trimitra Prawara Goldland (ATAP) climbed 25%, while Metropolitan Land (MTLA) added 17.76%.

On the losing side, Pelayaran Jaya Hidup Baru (PJHB) dropped 14.73%, Sekar Bumi (SKBM) slid 14.57%, and Hetzer Medical Indonesia (MEDS) declined 12.94%. Golden Flower (POLU) also retreated 12.67%.

Pilarmas Investindo Sekuritas said the benchmark index remained volatile as investors turned cautious ahead of the Christmas 2025 and New Year 2026 holidays, amid lingering domestic sentiment.

According to Pilarmas, the market reacted to news that Indonesia and the United States plan to sign a reciprocal tariff agreement (RTA)  by the end of January 2026. However, gains were capped by profit-taking activity and continued foreign selling pressure. Based on the latest data, foreign investors recorded a net sell of Rp 852.91 billion in the regular market on Tuesday.

Pilarmas added that investors were also weighing improving US–China relations, particularly after US trade authorities said new tariffs on Chinese semiconductor imports would be delayed by at least 18 months. The move was seen as reducing short-term trade risks across the global semiconductor supply chain and easing bilateral trade tensions.

Additional sentiment came from China, which plans to step up urban renewal programs and strengthen efforts to stabilize its property market starting in 2026, in line with the launch of its new Five-Year Plan for 2026–2030.

Across Asia, markets were mixed on Wednesday after Wall Street closed at fresh record highs overnight. The S&P 500 ended Tuesday up 0.5% at 6,909.79, driven by gains in technology stocks, even as most index constituents declined. The Dow Jones Industrial Average rose 0.2% to 48,442.41, while the Nasdaq Composite advanced 0.6% to 23,561.84. Nvidia climbed 3%, lifting the broader tech sector.

In the region, Japan’s Nikkei 225 slipped 0.1% to 50,344, while South Korea’s Kospi edged down 0.2% to 4,108. In China, Hong Kong’s Hang Seng gained 0.2% to 25,818, while the Shanghai Composite rose 0.5% to 3,940.

Trading in Asia was relatively thin, with several markets operating shortened sessions ahead of Christmas. Markets in Hong Kong and Australia closed early, while US markets were set to end early on Wednesday for Christmas Eve and remain closed on Thursday.

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