Jakarta. Indonesia's benchmark stock index extended its winning streak to a fifth straight session on Tuesday, closing near the day's high even as most Asian markets tumbled amid renewed geopolitical tensions and caution ahead of key US economic data.

Jakarta Composite Index (JCI) climbed 70 points, or 1.19%, to close at 5,986 after trading between 5,890 and 5,987.

Data from RTI showed trading volume reached 21.9 billion shares with turnover of Rp 10.2 trillion ($568.2 million) across more than 1.6 million transactions. Gainers outnumbered losers 430 to 212, while 141 stocks were unchanged.

Pilarmas Investindo Sekuritas said the JCI's gains came despite broad weakness across Asian markets, as investors remained cautious while monitoring global geopolitical developments, the minutes of the US Federal Reserve's latest policy meeting, and upcoming US trade balance data.

Market attention has also shifted to renewed tensions in Eastern Europe after a Ukrainian drone strike hit Russia's largest oil refinery in Omsk.

"The incident has revived concerns over potential disruptions to global energy supplies," Pilarmas wrote in a research note on Tuesday.

The brokerage added that investors were also watching rising friction within NATO after US President Donald Trump again urged member countries to increase defense spending.

"From a monetary policy perspective, investors are awaiting the Federal Reserve meeting minutes for clues on the future direction of interest rates. They are also closely watching the release of the US trade balance data," Pilarmas said.

Despite the external uncertainties, Pilarmas said Indonesia's domestic fundamentals remained supportive. Bank Indonesia reported that the country's foreign exchange reserves rose to $145.6 billion at the end of June 2026, up from $144.9 billion a month earlier.

"The level of foreign exchange reserves is equivalent to financing 5.5 months of imports, or 5.4 months of imports and government external debt repayments, well above the international adequacy standard of around three months of imports," Pilarmas said.

According to the brokerage, the strong reserve position continues to underpin Indonesia's external resilience, support macroeconomic stability, and strengthen investor confidence in the domestic financial market.

Elsewhere in Asia, stocks retreated sharply. South Korea's Kospi fell 4.9% after plunging as much as 8% intraday, despite a rebound in artificial intelligence-related shares on Wall Street. Samsung Electronics dropped 7.7%, while SK Hynix lost 6.7% as foreign investors locked in recent gains and rebalanced their portfolios.

Japan's Nikkei 225 slid 2.1%, with Tokyo Electron falling 3.9% and Kioxia Holdings tumbling 11.3%. Hong Kong's Hang Seng Index declined 0.7%, while China's Shanghai Composite Index lost 1.3%.

Overnight on Wall Street, the S&P 500 rose 0.7% to 7,537.54, finishing within 1% of its record high. The Nasdaq Composite gained 1.1% to 26,121, lifted by strength in AI-related technology stocks, while the Dow Jones Industrial Average added 0.3% to a record 53,055.

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