Jakarta. Jakarta Composite Index (JCI) closed higher on Wednesday, climbing 73.6 points or 0.91 percent to 8,166, amid cautious sentiment ahead of the US Federal Reserve’s policy announcement.

The index moved within a range of 8,042 to 8,169 throughout the session.

RTI data showed that 28.1 billion shares changed hands with a total transaction value of Rp 21.1 trillion ($1.27 billion) across 2.2 million trades. There were 355 gainers, 316 decliners, and 140 stocks left unchanged.

According to Pilarmas Investindo Sekuritas, market volatility remains elevated as investors await signals from the Fed and a highly anticipated meeting between US President Donald Trump and Chinese President Xi Jinping.

“Market participants appear to be taking a cautious stance ahead of the Fed’s policy decision on Wednesday US time,” Pilarmas wrote in its research note. The brokerage said investors are closely watching Fed Chair Jerome Powell’s remarks on further monetary easing, with markets pricing in a 25 basis-point rate cut to bring the benchmark rate to 4.00 percent.

Pilarmas added that the upcoming meeting between Trump and Xi could have major implications for trade relations. Trump earlier hinted at plans to discuss tariff reductions and fentanyl regulations, while also expressing support for American farmers.

From the domestic side, foreign investors booked a net sell of Rp 1.20 trillion in the regular market. Pilarmas noted that concerns over Morgan Stanley Capital International’s proposed revision to free-float calculations continued to pressure Indonesian equities, as tighter rules could reduce the weighting of local stocks in global indices.

Still, sentiment was buoyed by a stable outlook on Indonesia’s economy. The Rating and Investment Information agency reaffirmed the country’s sovereign credit rating at BBB+ with a stable outlook. “This reflects the market’s confidence in Indonesia’s economic resilience amid global uncertainty,” Pilarmas stated.

Across Asia, markets were mostly higher following Wall Street’s record-breaking rally. Japan’s Nikkei advanced 1.08 points or 2.17 percent to 51,307, while Shanghai’s SSE rose 28.1 points or 0.70 percent to 4,016, trading near decade highs. Hong Kong’s Hang Seng remained closed for a national holiday.

In South Korea, the Kospi gained 70.7 points or 1.76 percent to 4,081 after Trump’s visit to Seoul, where discussions over trade and investment continued.

Trump’s ongoing Asia tour and positive rhetoric toward regional economies have boosted investor optimism, with analysts noting that the planned Trump–Xi meeting could signal progress in de-escalating trade tensions.

On Wall Street, all three major indexes extended their record streaks for a third consecutive day on Tuesday. The S&P 500 added 0.2 percent to 6,890.89, the Dow Jones Industrial Average climbed 0.3 percent to 47,706.37, and the Nasdaq Composite jumped 0.8 percent to 23,827.49.

Investors now await the Fed’s rate decision and earnings reports from major tech firms that could shape market sentiment for the remainder of the week.

Top gainers in Wednesday’s session included Inocycle Technology (INOV), up 34 percent; FKS Multi Agro (FISH), up 24.8 percent; Rohartindo Nusantara Luas (TOOL), up 21.4 percent; and Nusantara Pelabuhan Handal (PORT), up 19 percent.

Top losers were TBS Energi Utama (TOBA), down 15 percent; Green Power Group (LABA), down 14.9 percent; Multi Indocitra (MICE), down 14.8 percent; and Bumi Benowo Sukses Sejahtera (BBSS), down 14.8 percent.