JCI Hits 8,165 as Rate Cut Bets, Global Gains Drive Morning Optimism
Jakarta. Indonesia’s benchmark index opened higher on Tuesday, tracking overnight rallies on Wall Street and optimism over a possible interest rate cut later this week.
The Jakarta Composite Index (JCI) climbed 77 points, or 0.94 percent, to 8,165, moving within a range of 8,161–8,180.
Trading volume reached 5.1 billion shares worth Rp 3.6 trillion ($217.3 million) across 363,000 transactions, with 326 gainers, 179 decliners, and 162 unchanged.
In a research note, CGS International Sekuritas Indonesia said that expectations of another 25-basis-point rate cut at the upcoming Bank Indonesia Board of Governors Meeting could serve as an additional positive catalyst for local equities.
Meanwhile, the Indonesia Stock Exchange (IDX) issued an Unusual Market Activity (UMA) alert on Bintang Samudera Mandiri Lines (BSML), whose shares jumped 5.16 percent to Rp 163 on Tuesday. The stock has surged 48.18 percent over the past month. The bourse urged investors to pay attention to the company’s responses to IDX’s queries, as well as its performance and information disclosures.
Globally, US stocks rallied on Monday, bringing major indices close to record highs. The S&P 500 rose 1.1 percent to 6,735.13, the Dow Jones Industrial Average gained 515.97 points to 46,706.58, and the Nasdaq Composite climbed 1.4 percent to 22,990.54. Apple led the charge, soaring 3.9 percent on strong demand expectations for its latest iPhone, setting a new record high.
Markets were also buoyed by easing trade tensions after US President Donald Trump said steep tariffs on Chinese imports were “unsustainable,” following Beijing’s new curbs on rare earth exports.
In Asia, sentiment remained upbeat. Japan’s Nikkei jumped 0.98 percent to 49,675 after the ruling Liberal Democrats formed a coalition, clearing the way for Sanae Takaichi to become Japan’s first female prime minister. Shanghai’s SSE gained 0.18 percent to 3,870, Hong Kong’s Hang Seng advanced 1.15 percent to 26,160, and South Korea’s KOSPI climbed 0.96 percent to 3,851.
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