Jakarta. Indonesia’s benchmark stock index closed marginally lower on Wednesday despite strong gains in several technology and consumer shares, as investors weighed global monetary signals and cautious sentiment ahead of key economic events in China.

The Jakarta Composite Index (JCI) slipped 5.26 points, or 0.06 percent, to finish at 8,611.7. Trading activity remained robust, with turnover reaching 21.09 trillion rupiah. A total of 349 stocks advanced, 332 declined, and 275 were unchanged, with overall market volume at 45.96 billion shares across 2.71 million transactions.

Technology stocks led sectoral gains, rising 1.54 percent, followed by infrastructure at 1.5 percent and transportation at 1.26 percent. Other gainers included primary consumer goods, property, health care, industrials, and non-primary consumer goods. By contrast, basic materials fell 0.6 percent, financials eased 0.58 percent, and energy slid 0.5 percent.

Pilarmas Investindo said the JCI initially found support from an overnight rebound in US equities, as both bond yields and bitcoin stabilized and investors heightened their bets that the Federal Reserve will cut interest rates at its meeting next week. Optimism grew further following reports that Kevin Hassett, a White House economic adviser with dovish views, has emerged as a top contender to replace Federal Reserve Chair Jerome Powell.

However, gains in early trading were capped by investor caution ahead of China’s upcoming Central Economic Work Conference and a Politburo meeting later this month,  two events expected to shape economic policy in Asia’s largest economy.

Despite the modest index decline, several Indonesian stocks delivered outsized returns. PT Triniti Dinamik (TRUE) surged 34.92 percent, PT Cilacap Samudera Fishing Industry (ASHA) climbed 34.85 percent, and PT Martina Berto (MBTO) advanced 29.19 percent. PT GTS Internasional (GTSI) jumped 28.32 percent, while PT Rockfields Properti Indonesia (ROCK) gained 25 percent.

Globally, European and Asian markets were mixed. Japan’s Nikkei 225 rose 1.1 percent on strong tech gains, while China’s markets weakened amid soft factory data.