Jakarta. Indonesia’s benchmark, Jakarta Composite Index (JCI,) closed higher on Thursday, climbing 84.9 points or 1.04 percent to finish at 8,250. The benchmark index traded between 8,159 and 8,272 throughout the session.

Total transactions reached 37.5 billion shares worth Rp 30.1 trillion ($1.8 billion) across more than 3 million trades. A total of 433 stocks advanced, 229 declined, and 135 remained unchanged based on RTI data.

Pilarmas Investindo Sekuritas noted that optimism in Asian markets was driven by expectations of a the US rate cut after the Federal Reserve’s latest meeting minutes showed growing concern among officials over labor market risks, despite lingering inflation pressures.

Global sentiment also received a boost from reports of a first-phase peace plan between Israel and Hamas announced by former the US President Donald Trump, as well as liquidity support measures from China’s central bank, which injected 1.1 trillion yuan ($154.8 billion) into the banking system through reverse repos.

Domestically, Bank Indonesia reported retail sales growth of 3.5 percent year-on-year in August, slower than 4.7 percent in July. Pilarmas said the figure still signals resilient consumer demand, supported by the government’s ongoing stimulus efforts.

Across Asia, markets mostly gained, tracking Wall Street’s record run overnight. Japan’s Nikkei 225 rose 1.8 percent, Shanghai’s Composite Index advanced 1.2 percent as trading resumed after a weeklong holiday, and Australia’s S&P/ASX 200 added 0.3 percent.

On Wednesday, US stocks also extended their rally, fueled by enthusiasm around artificial intelligence and expectations of lower interest rates. The S&P 500 hit another record close at 6,735.72, while the Nasdaq gained 1.1 percent to a fresh high of 23,043.38.