Jakarta. The Jakarta Composite Index (JCI) set a new record over the weekend, rising 0.18 percent to 7,812.131 from its previous high of 7,798.154 on Thursday. Market capitalization also hit an all-time high, climbing 4.46 percent to Rp 13,390 trillion ($868.82 billion).

For the week, the JCI gained 1.17 percent, closing at 7,812.131 from 7,721.846. Foreign investors posted a net buy of Rp 17.95 trillion on Friday, bringing the total net buy for 2024 to Rp 51.40 trillion.

Average daily transaction value surged 40 percent to Rp 14.98 trillion, while daily trading volume increased 10.79 percent to 23.34 billion shares. The frequency of daily transactions also rose by 1.66 percent to 1.14 million.

NH Korindo Sekuritas expects the JCI to remain buoyed by regional market sentiment and speculation of a potential US Federal Reserve rate cut during the September 17-18 FOMC meeting. Despite a higher-than-expected 0.2 percent rise in the US Consumer Price Index (CPI) for August, attention remains focused on the anticipated Fed decision.

“The JCI remains in positive territory, with weekly gains nearing 1 percent. A 'let your profit run' strategy, paired with a trailing stop, has proven effective,” NH Korindo noted in its report on Friday.

As of Sept. 13, 106 bond and sukuk issuances from 64 issuers, totaling Rp 89.69 trillion, have been recorded. The Indonesia Stock Exchange (IDX) now lists 587 bond and sukuk issuances worth Rp 462.16 trillion and $60.12 million. Additionally, 186 series of Government Securities (SBN) and nine Asset-Backed Securities (EBA) are listed, with a total nominal value of Rp 6,182.86 trillion and $502.10 million.

On the global front, US stocks ended the week higher, driven by gains in technology stocks like Microsoft and Broadcom. The S&P 500 rose 0.5 percent, nearing its record high, while the Dow Jones Industrial Average added 297 points. Anticipation of a Federal Reserve rate cut next week also bolstered market sentiment.