Jakarta. Indonesia’s benchmark stock index set a new record high on Wednesday, with broad-based buying lifting the market in line with gains across Asian equities and easing concerns over US inflation and global monetary policy.

The Jakarta Composite Index (JCI) closed at 9,032, up 84.28 points or 0.94%. The index traded within a range of 8,979 to 9,049 during the afternoon session.

Trading activity remained robust, with volume reaching 64.37 billion shares and turnover totaling Rp 29.3 trillion ($1.74 billion). A total of 440 stocks advanced, 240 declined, and 128 ended unchanged, with more than 3.4 million transactions recorded.

Agro Yasa Lestari (AYLS) led the gainers, surging 34.38%, followed by Ever Shine Textile Industry (ESTI), which climbed 34.29%. Kokoh Exa Nusantara (KOCI) jumped 31.31%, while Tunas Alfi (TALF) advanced 25%.

On the losing side, Weha Transportation Indonesia (WEHA) fell 13.14%. Xolare RCR Energy (SOLA) slid 12.57%, Asia Pramulia (ASPR) dropped 10.22%, and Graha Layar (BLTZ) declined 10%.

Pilarmas Investindo Sekuritas said a mix of external and domestic factors supported the JCI’s rally. From the global front, Asian equities mostly strengthened after the latest US inflation data came in broadly in line with expectations. “This reinforces the view that the Federal Reserve is likely to keep its policy stance unchanged at the end of this month,” Pilarmas wrote in a research note on Wednesday.

Pilarmas added that underlying price pressures in the US showed further signs of easing, with monthly core inflation recorded at 0.2%, below the market forecast of 0.3%.

Market participants also appeared to brush aside concerns over the Federal Reserve’s independence after the US Justice Department threatened Fed Chair Jerome Powell with potential criminal charges. Supportive comments from other major central bank leaders helped calm markets, according to Pilarmas.

Investors were also watching political developments in Japan, where expectations are growing that Prime Minister Sanae Takaichi may call an early general election. Pilarmas noted that Takaichi is seen as having strong public backing to pursue more expansionary policies, which could boost medium-term growth prospects and fuel expectations of more aggressive fiscal stimulus.

From China, December trade data showed a surplus of $114.1 billion, bringing the country’s full-year 2025 trade surplus to $1.189 trillion. “This highlights China’s resilience amid pressure from US trade tariffs,” Pilarmas said.

On the domestic front, Pilarmas pointed to Bank Indonesia’s continued efforts to stabilize the rupiah against the US dollar. The central bank’s consistent stance is seen as supporting financial stability and economic growth, signaling that BI will continue intervening in the foreign exchange market when necessary.

Across the region, Asian shares mostly rose after Wall Street retreated slightly from record highs. Japan’s Nikkei 225 jumped 1.5% to 54,341, while South Korea’s Kospi gained 0.7% to 4,723. In Greater China, Hong Kong’s Hang Seng added 0.4% to 26,959, while the Shanghai Composite slipped 0.4% to 4,122 after earlier gains.

Overnight in the US, stocks ended mixed amid geopolitical uncertainty and uneven corporate earnings. The S&P 500 fell 0.2% from its record high, the Dow Jones Industrial Average dropped 0.8%, and the Nasdaq Composite edged down 0.1%.

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