Jakarta. Jakarta stocks closed higher on Friday, defying a broader regional sell-off as investors weighed profit-taking against fresh optimism from Indonesia’s plan to begin importing Russian crude oil as early as this month.

Jakarta Composite Index (JCI) rose 0.17% or 12 points to 7,634, moving within a range of 7,607–7,673.

Data from RTI showed trading volume reached 40.89 billion shares, with turnover at Rp 15.7 trillion ($913 million) across more than 2.3 million transactions. Decliners slightly outpaced gainers, with 337 stocks falling versus 323 advancing, while 160 were unchanged.

On the upside, City Retail Developments (NIRO) surged 34.74%, Danasupra Erapacific (DEFI) jumped 34.71%, Asia Sejahtera Mina (AGAR) gained 25%, and Gowa Makassar Tourism Development (GMTD) climbed 24.92%.

On the losing side, Agro Yasa Lestari (AYLS) dropped 14.91%, Prasidha Aneka Niaga (PSDN) fell 14.66%, Sepeda Bersama Indonesia (BIKE) declined 14.60%, and Inocycle Technology (INOV) slipped 12.14%.

Pilarmas Investindo Sekuritas said in a research note that pressure across Asian markets emerged as optimism grew over a potential end to the US-Iran conflict, which had previously fueled the global rally.

“Market participants have begun taking profits after a significant rally, amid expectations that geopolitical tensions will ease,” Pilarmas wrote.

The optimism followed US President Donald Trump’s statement expressing confidence that the conflict with Iran would end soon. He said Tehran had agreed to several conditions, including halting its nuclear ambitions and reopening the Strait of Hormuz.

Pilarmas added that Trump also announced a 10-day ceasefire between Israel and Lebanon, a move seen as opening room for continued negotiations between the US and Iran.

From a domestic perspective, sentiment was also supported by Indonesia’s energy strategy. Energy Minister Bahlil Lahadalia said the government is set to begin importing crude oil from Russia as early as this month as part of efforts to strengthen national energy security amid global uncertainty.

Additional support came from fiscal credibility. Finance Minister Purbaya Yudhi Sadewa said rating agency Standard & Poor’s (S&P) is likely to maintain Indonesia’s sovereign credit rating at BBB with a stable outlook.

“The combination of global and domestic sentiment has allowed the JCI to remain in the green today, even as external pressures persist,” Pilarmas said.

Asian markets were mostly lower on Friday despite another record on Wall Street, as investors monitored prospects for further US-Iran talks and a possible extension of the ceasefire set to expire next week.

Oil prices also declined.

Japan’s Nikkei 225 fell 1.8% to 58,475 after hitting a record high a day earlier, while South Korea’s Kospi dropped 0.6% to 6,191.

Hong Kong’s Hang Seng declined 1% to 26,143. In contrast, shares of Chinese spatial design software firm Manycore Tech surged more than 140% on their Hong Kong debut, driven by the artificial intelligence boom. Mainland China’s Shanghai Composite slipped 0.1% to 4,051.

On Wall Street, the S&P 500 rose 0.3% to 7,041 on Thursday, setting another record just a day after breaking its previous peak in January. The Dow Jones Industrial Average gained 0.2% to 48,578, while the Nasdaq Composite added 0.4% to 24,102.

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