Jakarta. Indonesia’s stock market closed at another record high on Tuesday, as the Jakarta Composite Index (JCI) managed to extend gains despite intensifying global risk-off sentiment triggered by renewed US tariff threats and broad losses across major overseas markets.The benchmark index inched up 0.83 points or 0.01% to 9,134, marking a fresh all-time high.

Market activity remained solid, with total turnover reaching Rp 29.78 trillion ($1.76 billion). A total of 357 stocks advanced, 336 declined, and 265 ended unchanged, while trading volume hit 62.4 billion shares across 3.8 million transactions.

Pilarmas Investindo Sekuritas said the JCI’s resilience was supported by expectations of a January effect, with investors also positioning ahead of Bank Indonesia’s upcoming policy decision. The central bank’s Board of Governors is scheduled to meet on Jan. 20–21, 2026, keeping interest rate expectations in focus.

Global sentiment remained under pressure. European equities fell more than 1% after the Trump administration revived tariff threats tied to disputes over Greenland. France’s CAC 40 slid 1.2% to 8,014, Germany’s DAX dropped 1.5% to 24,581, and Britain’s FTSE 100 fell 1.3% to 10,068.

US President Donald Trump said over the weekend that Washington would impose a 10% import tax starting in February on goods from Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland, citing their opposition to American control of Greenland. The remarks sparked diplomatic tensions across Europe, with leaders weighing possible countermeasures, including retaliatory tariffs and the use of the European Union’s anti-coercion instrument.

US Treasury Secretary Scott Bessent sought to ease concerns, saying on the sidelines of the World Economic Forum in Davos, Switzerland, that US-European relations remain strong. He urged trading partners to “take a deep breath” and let the situation play out.

Asian markets were mostly lower. Japan’s Nikkei 225 fell 1.1% to 52,991 after Prime Minister Sanae Takaichi called a snap election for Feb. 8, reviving worries over fiscal discipline and pushing long-term government bond yields sharply higher. The 40-year Japanese government bond yield surged to a record 4%.

Chinese markets also edged down. Hong Kong’s Hang Seng Index slipped 0.3% to 26,487, while the Shanghai Composite ended nearly unchanged at 4,113.

The People’s Bank of China kept its benchmark rates unchanged, maintaining the one-year Loan Prime Rate at 3% and the five-year LPR at 3.5%, in line with expectations.

Elsewhere in the region, South Korea’s Kospi dropped 0.4% to 4,885, while Australia’s S&P/ASX 200 fell 0.7% to 8,815.

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