Jakarta. Indonesian stocks rose 0.42% on Thursday, extending gains to close at 6,464, as investors weighed the Federal Reserve’s latest interest rate hike, falling oil prices and developments in US-China trade relations.

Jakarta Composite Index (JCI) gained 27 points, moving between 6,418 and 6,500 during the session. Trading volume reached 28.3 billion shares, with a total turnover of Rp 13.8 trillion ($777.38 million) and more than 1.86 million transactions. A total of 384 stocks advanced, 244 declined, and 164 were unchanged.

Pilarmas Investindo Sekuritas said the gains came as Asian markets traded mixed following the Fed’s decision to raise its benchmark interest rate.

The US central bank raised its policy rate by 25 basis points to 3.75%-4%, a move that had been widely anticipated by markets, keeping investors’ response relatively contained.

However, the Fed left the door open to another rate hike later this year, keeping investors wary of the possibility of US interest rates remaining elevated for longer.

“This has kept markets focused on the possibility of US interest rates staying high for an extended period,” Pilarmas wrote in its research note on Thursday.

Another source of support came from the oil market, where global prices declined on hopes that Saudi Arabia’s East-West pipeline could soon resume operations, Pilarmas said.

Lower oil prices could ease concerns over global inflation and provide energy-importing countries, including Indonesia, with more room to manage energy subsidy spending.

Investors were also monitoring US-China trade relations ahead of a high-level meeting between US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng.

The talks are scheduled ahead of a meeting between US President Donald Trump and Chinese President Xi Jinping on Sept. 24.

“The meeting has drawn market attention as investors continue to monitor developments related to tariffs, sanctions and geopolitical tensions between the two countries,” Pilarmas said.

Asian markets traded mixed on Thursday after Wall Street closed lower following the Fed’s rate hike, its first in three years.

Japan’s Nikkei 225 gained 0.3%, while South Korea’s Kospi edged down less than 0.1%. Hong Kong’s Hang Seng fell 0.6%, and the Shanghai Composite declined 0.4%.

In Indonesia, the Fed’s decision has also turned attention to Bank Indonesia’s next policy move, Pilarmas said.

Higher US interest rates could put pressure on the rupiah and capital flows, leaving BI to balance currency stability with support for economic growth.

Meanwhile, lower oil prices could provide some relief to the state budget, particularly by easing the burden of energy subsidies.

On Wednesday, Wall Street’s S&P 500 fell 0.5%, while the Dow Jones Industrial Average dropped 1.2%. The technology-heavy Nasdaq Composite was mostly unchanged.

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