Jakarta Stocks Open at 8,294 as Investors Eye Trump-Xi Meeting and Oil Surge
Jakarta. Indonesia’s benchmark Jakarta Composite Index (JCI) gained 20 points, or 0.24 percent, to 8,294 in the first trading session on Friday, tracking gains across Asia amid rising commodity prices and easing global tensions.
The index moved within the 8,285–8,311 range, with over 1.43 million shares traded, valued at Rp 1.3 trillion ($78.2 million) across 140,000 transactions. A total of 273 stocks advanced, 182 declined, and 185 remained unchanged.
Investor sentiment improved after the White House confirmed that former US President Donald Trump and Chinese President Xi Jinping will meet in South Korea next Thursday. The announcement helped ease concerns about renewed trade frictions between the two largest economies.
On Wall Street, the S&P 500 climbed 0.6 percent and neared its all-time high as energy stocks surged following Trump’s new sanctions on Russia’s crude industry. Oil prices spiked 5.5 percent, boosting shares of Exxon Mobil, ConocoPhillips, and Diamondback Energy.
Asian stocks opened higher in response: Japan’s Nikkei rose 0.92 percent, South Korea’s KOSPI gained 1.23 percent, Hong Kong’s Hang Seng added 0.80 percent, and Shanghai’s SSE advanced 0.17 percent as Beijing concluded its key Communist Party meeting focusing on tech self-reliance.
On a side note, the Indonesia Stock Exchange (IDX) suspended trading in Pudjiadi Prestige (PUDP), City Retail Developments (NIRO), Perdana Bangun Pusaka (KONI), and Agro Yasa Lestari (AYLS) due to sharp cumulative price gains, a measure aimed at protecting investors.
Meanwhile, Puri Global Sukses (PURI) returned to active trading on Friday as the IDX lifted its earlier suspension, citing normalized market movement.
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