Jakarta. Jakarta Composite Index (JCI) surged 73.58 points, or 0.91 percent, to close at 8,124 on Thursday, buoyed by the International Monetary Fund’s (IMF) upgraded outlook for Indonesia’s economic growth. The index moved within the range of 8,030 to 8,148.

Trading volume reached 27.1 billion shares, with a turnover of Rp 19.5 trillion ($1.2 billion) across 2.1 million transactions. A total of 412 stocks advanced, 250 declined, and 141 were unchanged.

Top gainers included Gozco Plantations (GZCO), which soared 24.68 percent; Eagle High Plantations (BWPT), up 21.23 percent; Garuda Indonesia (GIAA), which climbed 6.6 percent; and chocolate maker Wahana Interfood (COCO), up 24.39 percent.

According to Pilarmas Investindo Sekuritas, Thursday’s rally was driven by optimism following the IMF’s latest World Economic Outlook, which raised Indonesia’s 2025–2026 growth forecast to 4.9 percent from 4.8 percent previously.

“The IMF’s upward revision signals the resilience of Indonesia’s economy amid global uncertainty, supported by sound fiscal discipline and credible monetary policy,” Pilarmas said in its research note.

The brokerage added that most Asian markets also strengthened on Thursday, despite lingering concerns over US–China trade tensions. “The market remains hopeful that both countries could renegotiate and reach a new tariff truce,” it said.

Earlier this week, US Treasury Secretary Scott Bessent suggested that Washington may extend the trade ceasefire beyond three months if Beijing halts plans to impose new export controls on rare earth minerals.

Market sentiment also improved following comments from Federal Reserve Chair Jerome Powell, who noted signs of a cooling US labor market. Investors interpreted this as reinforcing expectations of a Fed rate cut later this month, with another in December and possibly three more next year, according to the Fed’s Beige Book report.

Across the region, Japan’s Nikkei 225 rose 1.3 percent to 48,277.74, lifted by robust corporate earnings and growing expectations of US rate cuts. South Korea’s Kospi surged 2.5 percent to a record 3,748.37, led by gains in tech and auto stocks amid hopes of a trade breakthrough with the US.

Meanwhile, Hong Kong’s Hang Seng slipped 0.4 percent to 25,812.20, and Shanghai Composite was little changed at 3,911.42. Australia’s S&P/ASX 200 climbed 0.9 percent to 9,068.40, breaching the 9,000 mark for the first time, boosted by gold miners.

In the US, the S&P 500 rose 0.4 percent to 6,671.06, while the Nasdaq composite gained 0.7 percent to 22,670.08. The Dow Jones Industrial Average edged down less than 0.1 percent to 46,253.31.

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