Jakarta. The Jakarta Composite Index (JCI) rebounded on Monday, climbing 3.97 percent or 249 points to close at 6,519.6. The surge followed a steep decline on Friday, with renewed investor confidence driven by strong domestic manufacturing data.

Market activities were overwhelmingly positive, with 454 stocks rising, 162 declining, and 180 remaining unchanged. Trading volume reached 21.2 billion shares, with a total transaction value of Rp 15.41 trillion across 1.31 million trades.

Almost all sectors posted gains, led by basic materials, which jumped 4.2 percent. The financial sector followed with a 3.8 percent increase, while infrastructure stocks climbed 3.2 percent. Consumer staples and energy stocks also advanced, gaining 2.9 percent and 2.5 percent, respectively. Healthcare was the only sector in negative territory, dipping 0.03 percent.

Several stocks hit their auto-rejection upper limit (ARA), surging up to 25 percent in intraday trading. Shares of Pradiksi Gunatama (PGUN) soared 25 percent to Rp 625, while Toba Pulp Lestari (INRU) also gained 25 percent to Rp 450. Geoprima Solusi (GPSU) climbed 24.5 percent to Rp 422, with Aesler Group Internasional (RONY) and Fortune Mate Indonesia (FMII) rising 24.7 percent to Rp 1,510 and Rp 464, respectively.

The rally was fueled by stronger-than-expected manufacturing data. The S&P Global Indonesia Manufacturing PMI rose to 53.6 in February, up from 51.9 in January, signaling continued expansion. Pilarmas Investindo Sekuritas said new orders had reached their highest level in nearly a year, driven by increasing domestic demand and growing producer confidence.

Indonesia posted a 0.48 percent month-to-month deflation in February which the Central Statistics Agency or BPS attributed to the electricity bill discounts. The government had halved the electricity bills for households with a power capacity of between 450 and 2,200 volt-amperes. This represents about 97 percent of the customers in Indonesia.

Global markets also advanced on Monday, supported by upbeat Chinese factory data and a strong finish on Wall Street last week. Germany’s DAX climbed 0.5 percent to 22,658.00, while France’s CAC 40 edged up 0.1 percent to 8,115.97. Britain’s FTSE 100 gained 0.3 percent to 8,835.96.

In Asia, Hong Kong’s Hang Seng Index rose 0.3 percent, and Japan’s Nikkei 225 surged 1.7 percent. Chinese bubble tea chain Mixue Bingcheng soared 43 percent in its $444 million Hong Kong IPO, setting a record for local subscriptions.

Despite positive economic indicators, investors remained cautious over potential US-China trade tensions, as new tariffs on Chinese exports were set to take effect on Tuesday.

Oil prices edged lower, with US crude falling 39 cents to $69.37 per barrel, while Brent crude declined 33 cents to $72.48 per barrel. Bitcoin surged to $91,700 early Monday after dipping to $84,000 last week.

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