Jakarta. Indonesia’s benchmark Jakarta Composite Index (JCI) closed slightly higher on Thursday, adding 18.53 points or 0.22 percent to finish at 8,337, as both domestic and global cues supported investor confidence.

According to Pilarmas Investindo Sekuritas, the positive tone came from a mix of encouraging economic data from the United States, trade optimism from China, and steady domestic growth figures.

During the session, the index moved between 8,289 and 8,362, with RTI data showing 25.68 billion shares traded, worth Rp 18.18 trillion ($1.09 billion), across 2.4 million transactions. There were 394 gainers, 259 losers, and 158 unchanged.

From abroad, the market drew strength from US labor data and trade policy expectations. The ADP Employment Change in October rose by 42,000, beating forecasts of 28,000, signaling an improvement in the labor market. The US services sector also expanded, with its index rising from 50 to 52.4, driven by new orders.

According t o Pilarmas, optimism also stemmed from speculation that the US Supreme Court may reject the government’s aggressive trade tariffs. “The potential rejection of import tariffs would ease trade tensions,” Pilarmas wrote in a research note.

Meanwhile, Chinese Premier Li Qiang said the country’s economy is on track to exceed CNY 170 trillion ($23.9 trillion) in the next five years and vowed to further open domestic markets to global firms. He also confirmed that China would suspend retaliatory tariffs on US imports following recent trade talks.

On the domestic front, Indonesia’s third-quarter GDP growth came in at 5.04 percent year-on-year, supported by pro-growth fiscal policies and stable consumer demand. “This reinforces optimism that full-year growth could stay above 5 percent,” Pilarmas said.

Adding to the day’s sentiment, investors also tracked the MSCI index rebalancing, with the inclusion of major conglomerates seen as a short-term boost. However, Pilarmas cautioned investors to watch for profit-taking opportunities, noting that “the momentum may trigger a sell-on-news reaction.”

Across Asia-Pacific, markets bounced back following Wall Street’s gains overnight.

Tokyo’s Nikkei 225 climbed 1.5 percent to 50,959.14, with Nissan Motor Co. up 1.3 percent after announcing plans to sell its Yokohama headquarters. South Korea’s Kospi rose 1.2 percent to 4,054.15, while Hong Kong’s Hang Seng surged 1.6 percent to 26,361.40, and the Shanghai Composite gained 0.9 percent to 4,004.25.

In the US, all major indexes advanced on Wednesday. The S&P 500 rose 0.4 percent to 6,796.29, the Dow Jones Industrial Average added 0.5 percent to 47,311, and the Nasdaq Composite climbed 0.6 percent to 23,499.80. Tech stocks led the rebound, with Alphabet up 2.4 percent, Broadcom rising 2 percent, and Meta Platforms adding 1.4 percent, offsetting losses in Nvidia and Microsoft.

However, sentiment remained cautious as Federal Reserve Chair Jerome Powell reiterated concerns about premature rate cuts, with inflation still at 3 percent in September—above the Fed’s 2 percent target.

In the US Supreme Court, justices heard arguments on the legality of the government’s sweeping tariff measures, adding another layer of uncertainty to trade outlooks.

On IDX, Thursday’s top gainers included Green Power Group (LABA), up 34.67 percent, Terang Dunia Internusa (UNTD), up 34.52 percent, Dafam Property Indonesia (DFAM), which rose 28.77 percent, and City Retail Developments (NIRO), up 25 percent.

Among the laggards were Multitrend Indo (BABY), down 14.71 percent, Anabatic Technology (ATIC), which fell 14.63 percent, Pioneerindo Gourmet International (PTSP), down 12.85 percent, and Bekasi Asri Pemula (BAPA), sliding 11.96 percent.

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