Jakarta. Jakarta Composite Index (JCI) opened higher on Wednesday, gaining 22.43 points (0.27 percent) to 8,384 as early trade moved in a tight 8,377–8,389 range.

RTI data showed 2.57 billion shares exchanged hands in the opening minutes, with turnover reaching Rp 8.25 trillion ($492.55 million) across 88,583 transactions. A total of 250 stocks advanced, 137 declined, and 239 were unchanged.

Pilarmas Investindo Sekuritas said the latest US labor data signaled rising pressure in the job market, with initial jobless claims up to 232,000 for the week ending Oct. 18 and continuing claims inching to 1.957 million. The firm said Thursday’s upcoming US economic releases could raise market volatility as investors rethink the odds of a December Fed rate cut.

According to Pilarmas, sentiment remains fragile as investors grow doubtful of a near-term policy pivot. Mixed labor signals, divisions among Fed officials, and concerns over AI-driven tech investments, many financed by debt, continue to weigh on US equities. They added that the White House’s consideration of a $2,000 dividend check funded by tariff revenues adds a layer of policy uncertainty, potentially boosting household income but risking inflation.

Domestically, Pilarmas highlighted the government’s plan to roll out a progressive gold export tax in 2026. The measure covers dore, granules, cast bars, and minted bars, with rates tied to global benchmark prices. Exporters of semi-refined gold may see margin pressure, while miners with downstream capacity could benefit from lower tariffs for finished products. Pilarmas said the move may dampen short-term sentiment but strengthen long-term sector resilience.

Wall Street closed lower on Tuesday, dragged again by sharp declines in Nvidia and other high-flying tech names. The S&P 500 fell 0.8 percent to 6,617.32, the Dow Jones slipped 498.50 points to 46,091.74, and the Nasdaq lost 1.2 percent to 22,432.85. Nvidia dropped 2.8 percent, extending its monthly slide past 10 percent, officially entering correction territory.

Across Asia, Japan’s Nikkei climbed 120 points (0.25 percent) to 48,822, South Korea’s Kospi rose 13 points (0.33 percent) to 3,966, and Hong Kong’s Hang Seng gained 24 points (0.10 percent) to 25,954. China’s SSE slipped 2 points (0.05 percent).

On the Indonesia Stock Exchange, two stocks were suspended this morning: Cahayasakti Investindo Sukses (CSIS), up 155.05 percent in a month to Rp 505,  and Trimitra Prawara Goldland (ATAP), which surged 61.54 percent to Rp 147. IDX reminded stakeholders to monitor corporate disclosures closely.

Meanwhile, the suspension on City Retail Developments (NIRO) was lifted, allowing the stock to resume trading in the first session on both the regular and cash markets.

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