Jakarta. Jakarta Composite Index (JCI) closed higher on Wednesday at 8,602, marking another all-time high as Asian markets tracked Wall Street’s strong gains.

The benchmark moved within the 8,503–8,602 range, with trading volume reaching 53.56 billion shares and turnover at Rp 26.4 trillion ($1.59 billion). Total transactions exceeded 2.69 million, with 293 stocks up, 365 down, and 149 flat.

Pilarmas Investindo Sekuritas said global markets advanced on growing expectations that the US Federal Reserve will cut interest rates next month, optimism over the next Fed chair candidate, and easing geopolitical tensions.

“Expectations for a December rate cut strengthened,” the brokerage wrote, citing softer US consumer spending. US Retail Sales Advance month-on-month slowed to 0.2 percent from 0.6 percent, while the Conference Board Consumer Confidence Index fell to 88.7 from 95.5, indicating cooling demand after months of strong spending.

Pilarmas added that Kevin Hassett, Director of the US National Economic Council, is viewed as the frontrunner to become the next Fed chair, a figure seen as likely to support lower interest rates, aligning with US President Donald Trump’s preference.

Sentiment also improved after Ukrainian officials agreed to a plan to end the war with Russia, reinforced by Trump’s remarks that a peace deal is “getting closer.”

Nikkei 225 jumped 1.7 percent to 49,502, though Kioxia sank 15 percent on reports of a major share sale by Bain Capital. Kospi advanced 2.5 percent to 3,960, supported by a 3.5 percent rise in Samsung Electronics and a 1 percent gain in SK Hynix.

Chinese markets were mixed: Hang Seng added 0.4 percent to 25,992, while the Shanghai Composite edged 0.1 percent lower to 3,866. Alibaba dropped 1.3 percent, following a decline in its US-traded shares after profit missed forecasts despite stronger-than-expected revenue.

US markets, operating on a shortened week due to Thanksgiving, also rallied Tuesday. S&P 500 gained 0.9 percent, Dow Jones climbed 1.4 percent, and Nasdaq rose 0.7 percent. Traders are pricing in nearly an 83 percent probability of a December rate cut, according to CME Group data.

On the IDX, today’s top gainers were Jaya Agra Wattie (JAWA) and Bank Dinar Indonesia (DNAR), jumping 34.94 percent and 34.78 percent. Terang Dunia Internusa (UNTD) climbed 33.70 percent, while Capital Financial Indonesia (CASA) advanced 25 percent.

Lagging stocks included Suryamas Dutamakmur (SMDM), Caturkarda Depo Bangunan (DEPO), and Ace Oldfields (KUAS), down 14.47 percent, 14.38 percent, and 14.29 percent. Weha Transportasi Indonesia (WEHA) also fell 13.19 percent.

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