Jakarta. The Jakarta Composite Index (JCI) closed down 20.6 points, or 0.26 percent, at 7,957 on Tuesday, moving within a range of 7,899–7,985 throughout the day.

Market activity saw 43.77 billion shares traded, with a turnover of Rp 15.58 trillion across 2.18 million transactions. A total of 330 stocks gained, 320 declined, and 152 remained unchanged.

Profit-taking weighed on the market, though analysts said overall sentiment remains constructive. “The strengthening trend is still visible as positive sentiment lingers,” said Ike Widiawati, Head of Retail Research at Sinarmas Sekuritas. She said investors were in a wait-and-see mode ahead of the US Federal Reserve’s interest rate decision and the revised 2026 draft state budget (RAPBN).

Meanwhile, Pilarmas Sekuritas said the market is also closely monitoring upcoming monetary policy moves by global central banks, including the Fed and Bank Indonesia (BI). The Fed is expected to announce the outcome of its Federal Open Market Committee meeting Wednesday after a two-day session. Analysts widely anticipate a 25-basis-point rate cut.

Bank Indonesia, meanwhile, will release its BI-Rate decision on Wednesday afternoon, with consensus forecasts suggesting the rate will remain steady at 5 percent. “Investors are watching BI’s policy direction to assess how the central bank balances stability with growth,” Pilarmas said.

Domestic stimulus measures have also supported investor sentiment. Pilarmas noted that the government has allocated Rp 16.23 trillion in economic stimulus for 2025 to fund eight acceleration programs, four programs extending into 2026, and five initiatives aimed at absorbing labor. “These measures are expected to support domestic economic activity and provide momentum for continued growth throughout the year,” the firm said.

Across Asia, markets traded mostly higher after Wall Street hit fresh records and expectations grew that the Fed would deliver its first rate cut of the year. Japan’s Nikkei 225 briefly topped 45,000 points during Tuesday trading for the first time before settling at 44,975.69, up 0.5 percent. Australia’s S&P/ASX 200 edged up 0.3 percent to 8,875.60, South Korea’s Kospi advanced 1.2 percent to 3,448.69, Hong Kong’s Hang Seng rose 0.3 percent to 26,512.58, and the Shanghai Composite gained 0.2 percent to 3,866.50.

In Madrid, US Treasury Secretary Scott Bessent announced that Washington and Beijing had reached a framework deal on the ownership of TikTok, with US President Donald Trump and Chinese Premier Xi Jinping expected to speak on Friday to possibly finalize the agreement.

On Wall Street, the S&P 500 climbed 0.5 percent to a new record, while the Dow Jones Industrial Average rose 49 points, or 0.1 percent, and the Nasdaq gained 0.9 percent to its own all-time high. Tesla shares surged 3.6 percent after Elon Musk purchased $1 billion worth of stock through a trust, signaling renewed confidence in the EV maker.

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