Jakarta. Indonesia’s benchmark stock index opened slightly higher on Friday, rebounding from earlier declines, as two food-related stocks immediately hit their upper trading limits.

The Jakarta Composite Index gained 11.09 points, or 0.14 percent, to reach 8,051.76 in the morning session.

Trading volume was brisk in the opening minutes, with 985 million shares exchanged, worth Rp 693.08 billion, across 80,167 transactions. Of the listed stocks, 251 rose, 122 fell, and 229 were unchanged.

Two counters quickly triggered the auto-rejection upper limit, resulting in temporary suspension: Fast Food Indonesia (FAST), which jumped 25 percent to Rp 580, and Supra Boga Lestari (RANC), which surged 24.62 percent to Rp 810.

Global Backdrop
The positive open in Jakarta came against a weaker backdrop in the United States, where Wall Street posted a third straight decline on Thursday.

The S&P 500 slipped 0.5 percent, marking its longest losing streak in more than a month. The Dow Jones Industrial Average dropped 173 points, or 0.4 percent, while the Nasdaq Composite also fell 0.5 percent. Despite the pullback, all three indexes remain close to record highs set earlier in the week.

Investors grew cautious after reports suggested the US economy is performing stronger than expected. While supportive for jobs and growth, the data raised doubts over whether the Federal Reserve will proceed with multiple interest rate cuts in the coming months.

The Fed made its first cut of the year last week and had signaled more reductions through 2026. However, a resilient economy could reduce the urgency, especially since aggressive easing risks fueling already stubborn inflation.

Market analysts warn that fewer cuts than anticipated could reinforce concerns that US equities have become overvalued after rapid gains since April.

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