Jakarta. The Jakarta Composite Index kicked off Tuesday’s session on a strong note, opening at 8,577 and climbing 69 points (0.80 percent).

Within the first 10 minutes, 4.13 billion shares changed hands with a turnover of Rp 2.22 trillion ($133.49 million) across more than 329,000 transactions. Market breadth showed 285 gainers, 232 decliners, and 181 flats, with the index moving between 8,564 and 8,597.

Pilarmas Investindo Sekuritas said Indonesia’s formal entry into BRICS and its membership in the New Development Bank (NDB) is boosting overall sentiment. Indonesia has committed $1 billion in paid-in capital to the Shanghai-based lender, which was established in July 2024 with an initial $100 billion to finance infrastructure and sustainability projects across emerging economies.

According to Pilarmas, the move broadens Indonesia’s access to lower-cost development financing, particularly for infrastructure, renewable energy, and sustainability initiatives, while opening pathways to deeper investment flows from China, India, and Brazil.

The firm also sees stronger export diversification and greater leverage in global economic diplomacy forums. While the fiscal commitment is sizable, Pilarmas views long-term gains as outweighing the cost if funding is deployed productively.

Global cues were mixed. Fresh early-December data showed renewed weakness in the United States, with the US ISM Manufacturing PMI slipping from 48.7 to 48.2, its lowest in four months. New Orders dropped to 47.4, extending a nine-month contraction streak, while the Employment Index fell from 46 to 44 as a quarter of respondents reported job cuts. Eleven manufacturing industries shrank in November, including apparel, wood products, paper, and textiles.

US equities retreated: the S&P 500 fell 0.5 percent, the Dow Jones slid 427 points (0.9 percent), and the Nasdaq dipped 0.4 percent, though expectations remain high that the Federal Reserve will cut rates next week. CME data shows traders pricing in an 85 percent probability of a cut.

Longer-term US Treasury yields rose in tandem with global bond markets after the Bank of Japan signaled a possible rate hike. Japan’s benchmark rate has been near zero for years, but inflation now sits above the BOJ’s 2 percent target.

In Asia, Japan’s Nikkei opened at 49,494, up 191 points (0.39 percent). South Korea’s Kospi added 19 points (0.48 percent) to 3,939, while Hang Seng slipped 88 points (0.33 percent) to 25,945 and Shanghai’s SSE edged down 6 points (0.15 percent) to 3,908.

On the domestic front, the Indonesia Stock Exchange reopened trading for Intan Baru Prana (IBFN) and Perintis Triniti Properti (TRIN) on Tuesday’s first session in both the regular and cash markets.

However, suspensions remain in place for Maha Properti Indonesia (MPRO), Buana Artha Anugerah (STAR), Red Planet Indonesia (PSKT), Sanurhasta Mitra (MINA), and Asri Karya Lestari (ASLI). Stockbit data shows sharp monthly rallies prior to the suspensions: MPRO +80.77 percent, STAR +252.11 percent, PSKT +126.28 percent, MINA +131.46 percent, and ASLI +146 percent.

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