Jakarta. Indonesian stocks rebounded at Wednesday's opening after the previous session's decline, with investors weighing the upcoming US Federal Reserve policy decision and uncertainty over Bank Indonesia's next governor.

Jakarta Composite Index (JCI) gained 11 points, or 0.17%, to 6,141 shortly after the opening bell. During the first 15 minutes of trading, the benchmark moved between 6,140 and 6,174.

Trading volume reached 3.87 billion shares with a turnover of Rp 1.33 trillion ($73.47 million) across more than 251,000 transactions. Gainers outnumbered losers 401 to 139, while 179 stocks were unchanged.

Phintraco Sekuritas said the rupiah remained under pressure after weakening beyond the 18,000-per-dollar level to Rp 18,083 on Monday, driven by both external and domestic factors.

Externally, investors are awaiting the outcome of the Federal Reserve's policy meeting on Wednesday US time, with markets expecting the central bank to keep interest rates unchanged at 2.5%-3.75%.

"Domestically, investors remain in a wait-and-see mode amid uncertainty over the appointment of the next Bank Indonesia governor, which is considered likely to influence the central bank's future policy direction," Phintraco said.

The brokerage also warned that Indonesia should remain alert after the Office of the United States Trade Representative (USTR) signaled the possibility of additional import tariffs targeting several Asian countries, including China, Vietnam, and South Korea.

"The USTR is investigating alleged manufacturing overcapacity and dumping practices in those countries. The Indonesian government also needs to remain vigilant after Indonesia was hit with an additional 10% US tariff last week," Phintraco said.

Global sentiment was mixed. Oil prices fell about 4% after Iran entered talks with Saudi Arabia and Oman over the Strait of Hormuz. Investors are also awaiting earnings reports from major artificial intelligence companies, including Microsoft and Meta Platforms, while weakness in South Korea's technology shares reflected intensifying competition from Chinese chipmakers.

On Wall Street overnight, the S&P 500 rose 0.2%, while the Dow Jones Industrial Average climbed 1%. The Nasdaq Composite slipped 0.2%.

As of 8:43 a.m. Jakarta time, Asian markets traded mostly higher. Japan's Nikkei was little changed, fluctuating within a narrow range of minus 0.03% to flat. South Korea's Kospi gained 0.22%, Hong Kong's Hang Seng rose 0.70%, and China's Shanghai Composite added 0.14%.

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