Jakarta. Indonesian stocks rose 1.04% on Friday as resilient domestic consumer confidence and retail activity helped the market withstand global pressures from geopolitical tensions, fears of an artificial intelligence (AI) bubble and uncertainty over China-European Union trade relations.

Jakarta Composite Index (JCI) gained 62 points to close at 6,093, after moving between 5,995 and 6,100 during the session. Trading volume reached 28.3 billion shares, with turnover totaling Rp 9.9 trillion and transaction frequency exceeding 1.4 million. A total of 381 stocks advanced, 238 declined and 172 remained unchanged.

Pilarmas Investindo Sekuritas said relatively stable domestic economic conditions supported the market despite mounting external pressures. Bank Indonesia’s (BI) September 2026 consumer confidence index stood at 118.1, remaining in optimistic territory.

Meanwhile, the real sales index grew 1.3% year-on-year (yoy), accelerating from 1.1% in July 2026.

“These data show that consumer confidence and domestic sales activity remain resilient. However, purchasing power still needs attention to ensure that positive perceptions of current economic conditions do not diverge from consumers’ expectations for the future,” Pilarmas said in its research note on Friday.

On the global front, investors monitored US President Donald Trump’s remarks that he would not attack Iran before the Nov. 3, 2026, midterm elections.

Trump said talks with Tehran had been productive, although the United States would maintain its naval blockade of Iran and would not allow the country to possess nuclear weapons.

Concerns over OpenAI’s revenue outlook also reignited fears of a bubble in the AI industry, Pilarmas said. Investors have begun questioning the prospects for returns on investments in the sector, putting pressure on US technology stocks.

Markets were also awaiting the outcome of trade talks between China and the European Union in Beijing. The discussions came amid concerns among European industries over Chinese trade practices, the EU’s goods trade deficit and Beijing’s restrictions on exports of critical minerals.

“The combination of these factors weighed on global markets. Major European stock markets and Wall Street fell again, extending pressure on global benchmark indices,” Pilarmas wrote.

In Asia, Tokyo’s Nikkei 225 closed nearly unchanged at 69,030.92. The Shanghai Composite Index edged up 0.1%, while Hong Kong’s Hang Seng Index rallied 1.6%. South Korean markets were closed for the day.

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