Jakarta. Indonesia’s benchmark index opened slightly higher on Thursday, but fragile global sentiment and domestic liquidity tightening signals kept gains limited.

Jakarta Composite Index (JCI) rose 11 points, or 0.15%, to 7,313 at the open, trading within a range of 7,272 to 7,323.

Within the first nine minutes of trading, volume reached 6.1 billion shares with turnover of Rp 20.32 trillion ($1.2 billion) across more than 192,000 transactions. Advancers outpaced decliners, with 342 stocks rising, 170 falling, and 167 unchanged.

Global sentiment offered cautious support. On Wall Street, stocks advanced Wednesday on hopes of a potential pause in the conflict involving Iran, while oil prices eased.

The S&P 500 rose 0.5% after swinging earlier in the session, following a proposal by the United States to pause the war. The Dow Jones Industrial Average climbed 305 points, or 0.7%, while the Nasdaq Composite gained 0.8%.

However, volatility remained elevated. The S&P 500 briefly gave up most of its gains after rising as much as 1.2% earlier in the day, highlighting persistent uncertainty over the duration of the conflict, which has now stretched beyond three weeks.

Adding to the uncertainty, Iran’s Foreign Minister Abbas Araghchi said in an interview with state television that the government has not entered negotiations to end the war and does not plan to do so.

On the domestic front, the government has stepped up precautionary measures to secure energy supply. The Energy and Mineral Resources Ministry, along with Pertamina, is accelerating efforts to safeguard fuel stocks and ensure smooth oil and gas imports amid global supply disruptions and risks surrounding the Strait of Hormuz.

“Import strategies have shifted to countries outside the Hormuz route such as Malaysia, Brunei, Africa and the United States, while still avoiding sources from sanctioned countries. Domestic fuel stocks are currently around 27 days, above the minimum threshold but still vulnerable to external shocks,” Kiwoom said in a research note on Thursday.

Meanwhile, the Finance Ministry has injected an additional Rp 100 trillion into the banking system, bringing total fund placements to around Rp 300 trillion. The move comes in response to rising government bond yields, which signal tightening liquidity, and aims to contain potential increases in interest rates.

Across Asia, markets were mixed in early Thursday trading. As of 8:53 a.m. Jakarta time, Japan’s Nikkei rose 0.61% to 54,079. South Korea’s Kospi fell 1.45% to 5,560, while Hong Kong’s Hang Seng declined 0.63% to 25,176. China’s Shanghai Composite edged up 0.04% to 3,933.