Jakarta. Stocks kicked off Thursday on a bullish note as the Jakarta Composite Index climbed at the open, supported by improved domestic sentiment after Bank Indonesia opted to keep the BI-Rate unchanged at 4.75 percent.

The index advanced 42.96 points (+0.51 percent) to 8,449.54, trading within the 8,439–8,456 range.

RTI data showed 881.59 million shares changing hands in early trade, with turnover reaching Rp 687.31 billion ($41.10 million) across 71,417 transactions. A total of 283 stocks opened higher, 111 slipped, and 235 remained unchanged.

Pilarmas Investindo Sekuritas said the rate hold reinforces currency stability and supports foreign portfolio inflows while maintaining the impact of earlier monetary easing. With inflation staying inside the 2.5 percent ±1 percent target band, BI is keeping policy space for future cuts and strengthening macroprudential tools to stimulate credit expansion. Pilarmas expects this stance to benefit banking, property, and consumer stocks, though markets still await clearer cues on BI’s eventual easing timeline.

On the external front, uncertainty has risen after the US government canceled the October jobs report, leaving investors and the Federal Reserve without key readings ahead of the December FOMC meeting. Because the data will only be released after December 16, the probability of a Fed rate cut has slipped to around 29.3 percent. Pilarmas noted that markets generally prefer clarity,  even negative data, and the absence of information has weighed on expectations for year-end window dressing.

FOMC Meeting Minutes suggest many policymakers favor keeping rates steady through 2025, with some opposing cuts at the latest meeting. Two officials dissented, including Governor Stephen Miran, who pushed for a deeper 50-basis-point reduction. Pilarmas now sees the chances of a December cut as increasingly slim, which could limit upside for US equities into year-end.

US indexes ended mixed on Wednesday after a volatile session.

The S&P 500 rose 0.4 percent, snapping a four-day slide, while the Dow added 47 points (0.1 percent) and the Nasdaq climbed 0.6 percent.

Nvidia remained the main driver, advancing 2.8 percent as traders positioned ahead of its earnings release. The chip giant has briefly surpassed a $5 trillion valuation, giving it outsized influence over the S&P 500’s movements.

Wall Street is also preparing for the delayed US jobs report, which covers September employment data. Despite being outdated, the figures could sway sentiment given heightened scrutiny on labor-market conditions.

Across Asia, markets opened higher. Japan’s Nikkei advanced 592 points (+1.20 percent) to 49,129. South Korea’s Kospi surged 101 points (+2.51 percent) to 4,030. Hong Kong’s Hang Seng added 169 points (+0.65 percent) to 25,999, while Shanghai’s SSE rose 14 points (+0.35 percent).

Back in Jakarta, the bourse placed several stocks under close watch for Unusual Market Activity. Panca Global Kapital (PEGE) and Nusa Raya Cipta (NRCA) triggered alerts after sharp price jumps. PEGE has soared 50.4 percent over the past month, while NRCA has surged 61.59 percent. IDX urged investors to monitor issuers’ responses to the exchange’s queries and review each company’s performance and disclosures carefully.

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