Jakarta. Jakarta Composite Index (JCI) rebounded on Friday after briefly sliding to the 5,900 level during intraday trading, as improving global sentiment and gains across Asian markets helped offset lingering concerns over Indonesia’s proposed export centralization policy.

The benchmark index closed up 67 points, or 1.10%, at 6,162. Trading volume reached 27.83 billion shares with turnover totaling Rp 19.82 trillion ($1.11 billion) across 1.9 million transactions. Gainers outpaced losers, with 425 stocks rising, 267 declining, and 126 unchanged.

Pilarmas Investindo Sekuritas said the JCI strengthened in line with gains across regional Asian markets and Wall Street, driven by rising optimism over a potential agreement between the United States and Iran to ease tensions in the Middle East.

According to Pilarmas, reports showed Iran viewed the latest US proposal as an effort to narrow differences between both sides, fueling hopes for progress in negotiations.

“Iran said the latest US proposal had helped narrow the gap between the two parties, raising expectations for a peace agreement and easing concerns over potential disruptions to energy supply through the Strait of Hormuz,” Pilarmas said.

Despite the rebound, Pilarmas noted the JCI continued to move volatily as investors weighed a mix of global and domestic factors.

Domestically, financial markets and commodity-related industries remained under pressure due to the weakening rupiah and controversy surrounding the government’s proposed single-gate export policy.

Amid the debate, Danantara assured the market that the policy would not disrupt or cancel existing long-term contracts held by private exporters.

Pilarmas said the government had also committed to opening dialogue with industry players and business associations to ensure a safe transition process.

However, global rating agencies Moody’s and S&P warned that the new export governance policy could distort the market, disrupt export performance, and potentially threaten Indonesia’s sovereign credit rating.

Across Asia, markets advanced on Friday following modest gains on Wall Street, while oil prices rose as diplomatic efforts to end the Iran conflict showed limited progress.

Japan’s Nikkei 225 rose 2.7% to 63,339 after data showed inflation slowed to a four-year low of 1.4% in April, despite higher oil and gas prices linked to the conflict.

South Korea’s Kospi gained 0.4% to 7,847. Hong Kong’s Hang Seng climbed 0.9% to 25,612, while China’s Shanghai Composite Index added 0.9% to 4,112.

On Wall Street overnight, the S&P 500 rose 0.2% to 7,445. The Dow Jones Industrial Average gained 0.6% to 50,285, while the Nasdaq Composite edged up 0.1% to 26,293.