Jakarta. The Jakarta Composite Index (JCI) closed higher on Monday, climbing 23.9 points or 0.30 percent to 8,123, supported by a flood of positive external and internal sentiment. Market turnover reached Rp 23.3 trillion ($1.4 billion) from 49.9 billion shares traded in 2.6 million deals, with 392 stocks advancing, 289 declining, and 117 remaining flat.

Pilarmas Investindo Sekuritas said the gains were underpinned by optimism following the release of US inflation data. The Personal Consumption Expenditure (PCE) index rose 0.3 percent month-on-month and 2.7 percent year-on-year in August, in line with market expectations. “The report helped shape prospects for the Federal Reserve’s policy direction and strengthened speculation over a potential rate cut later this year,” Pilarmas noted in its research.

Markets are also watching the looming US government shutdown, with President Donald Trump set to meet congressional leaders in a last-ditch effort to prevent it. From China, sentiment was buoyed by the People’s Bank of China’s new measures to attract foreign investors into the bond market and boost the use of the yuan.

On the domestic front, the government’s decision to delay a 0.5 percent e-commerce income tax also provided relief. “The postponement helps safeguard household purchasing power and gives businesses time to adapt,” Finance Minister Purbaya Yudhi Sadewa said.

Meanwhile, top gainers included IT company Multipolar (MLPL) up 34.6 percent, battery producer Merdeka Battery Materials (MBMA) up 12.1 percent, retailer Matahari Putra Prima (MPPA) up 27.5 percent, and miner Bumi Resources Minerals (BRMS) up 17.4 percent.

Across Asia, most markets advanced after Wall Street snapped a three-day losing streak. Hong Kong’s Hang Seng rose 2 percent to 26,652.90, Shanghai Composite gained 0.9 percent to 3,862.53, Australia’s S&P/ASX 200 added 0.9 percent to 8,862.80, and South Korea’s Kospi climbed 1.3 percent to 3,431.21. Japan’s Nikkei was the outlier, falling 0.7 percent to 45,043.75.

In the US, the S&P 500 rose 0.6 percent to 6,643.70, the Dow Jones Industrial Average gained 0.7 percent to 46,247.29, and the Nasdaq Composite added 0.4 percent to 22,484.07, all moving closer to their all-time highs.
 

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