Jakarta. Jakarta Composite Index ended firmer on Wednesday, closing at 8,406, up 44.65 points or 0.3 percent. The benchmark moved within the 8,375–8,426 range.

Trading volume reached 42.94 billion shares with a turnover of Rp 28.44 trillion ($1.7 billion) across more than 2.2 million transactions. 335 stocks advanced, 285 fell, and 191 were unchanged.

Pilarmas Investindo Sekuritas said in their research that the index strengthened after Bank Indonesia kept its benchmark rate unchanged, in line with market expectations. The decision helped steady sentiment as investors gauged BI’s effort to balance stability, growth, and rupiah pressures. The brokerage also pointed to the IMF’s recent view that Indonesia’s monetary path remains appropriate, with earlier easing measures and ample liquidity continuing to support credit distribution.

Regionally, Pilarmas noted that Asian markets traded cautiously ahead of upcoming US economic data and uncertainty over potential Federal Reserve rate cuts. Markets now price in a 47 percent chance of a 25-basis-point cut in December, sharply lower from over 90 percent a month earlier. Several Fed officials have warned against additional easing due to inflation concerns, even as Governor Christopher Waller signaled openness to cuts amid signs of a cooling labor market.

Sentiment was further weighed by rising diplomatic tensions between China and Japan, after Chinese Foreign Ministry official Liu Jinsong voiced dissatisfaction over talks with Japanese diplomats. Investors worry the dispute could spill into economic ties.

Asian equities mostly slipped. Nikkei 225 fell 0.3 percent to 48,537, Hang Seng dropped 0.3 percent to 25,844, while the Shanghai Composite inched up 0.2 percent to 3,948. Kospi slid 0.6 percent to 3,929. Traders also awaited Nvidia’s quarterly earnings, viewed as a key gauge for the AI-driven rally.

Overnight, global shares retreated, with Nvidia losing 2.8 percent, extending its month-to-date decline to more than 10 percent, entering correction territory. The S&P 500 fell 0.8 percent to 6,617.32, the Dow Jones slipped 1.1 percent to 46,091.74, and the Nasdaq dropped 1.2 percent to 22,432.85.

Back in Jakarta, Tifa Finance (TIFA) jumped 25 percent, while Bukaka Teknik Utama (BUKK) and Fortune Mate Indonesia (FMII) advanced 24.75 percent and 24.71 percent, respectively. Sampoerna Agro (SGRO) rose 19.92 percent.

Among the top laggards, Informasi Teknologi Indonesia (JATI) dropped 14.94 percent, Puri Global Sukses (PURI) fell 14.91 percent, Perdana Bangun Pusaka (KONI) slipped 14.43 percent, and Tempo Inti Media (TMPO) lost 10.55 percent.