Jakarta. Global geopolitical jitters failed to dent risk appetite in Jakarta, with the Jakarta Composite Index (JCI) surging 1.27% to a record 8,859 on Monday, supported by January effect dynamics and steady foreign inflows despite tensions in Venezuela.

The benchmark index moved within a range of 8,732–8,859. Trading volume reached 70.26 billion shares, with turnover of Rp 30.33 trillion ($1.81 billion) and more than 4 million transactions recorded. A total of 446 stocks advanced, 246 declined, and 114 closed flat.

Market optimism is expected to persist through the week of Jan. 5–9, 2026, supported by the seasonal January effect, continued foreign accumulation, and upcoming domestic economic data releases. On the technical front, the JCI is seen moving within 8,725–8,780, with bullish momentum still intact.

However, Indo Premier Sekuritas equity analyst Hari Rachmansyah cautioned that risk management remains essential, as profit-taking could emerge despite the upbeat trend.

Meanwhile, Pilarmas Investindo Sekuritas said the JCI’s rally mirrored gains across Asian markets, even as global headlines were dominated by geopolitical tensions following US military action in Venezuela that led to the arrest of President Nicolas Maduro.

“Geopolitical concerns appear to have been largely ignored by investors, with attention shifting to regional economic data, particularly from China and Japan, which signaled a continuing recovery,” Pilarmas wrote in its Monday note.

In China, a private survey showed business activity remained in expansion territory for a seventh consecutive month. The services PMI stood at 52.0 in December, slightly down from 52.1 in November but still reflecting resilient demand. Pilarmas also highlighted comments by Chinese President Xi Jinping, who signaled a more proactive macroeconomic policy stance in 2026 after growth of around 5% in 2025.

Japan added to the positive tone, with S&P Global data showing manufacturing PMI rising to 50.0 in December, beating the initial estimate of 49.7 and improving from 48.7 in November. Markets are also watching potential fiscal stimulus after Prime Minister Sanae Takaichi called for increased government spending.

Domestically, sentiment was reinforced by constructive economic indicators. The Central Statistics Agency reported Indonesia’s November 2025 trade surplus at $2.66 million, while December inflation stood at 0.64% month-to-month and 2.92% year-on-year. Pilarmas expects full-year inflation to remain within Bank Indonesia’s target range of 1.5%–3.5%.

Across Asia, regional markets rallied on strong buying in technology stocks. Thomas Mathews of Capital Economics said markets appeared unfazed by developments in Venezuela, noting that near-term economic and financial implications were likely limited.

In Tokyo, the Nikkei 225 jumped 3% to 51,832.80, its highest close since touching a record on Oct. 31. Speaking at the New Year opening ceremony, Japan Exchange Group CEO Hiromi Yamaji warned that investors should continue monitoring geopolitical risks, global monetary policy shifts, and corporate earnings trends.

Elsewhere in the region, South Korea’s Kospi soared 3.4% to a record 4,457, Hong Kong’s Hang Seng edged up 0.03% to 26,347, and China’s Shanghai SSE Composite climbed 1.38% to 4,023.

On Wall Street, US stocks posted modest gains on Friday to kick off the new year. The S&P 500 rose 0.2%, the Dow Jones Industrial Average added 0.7%, while the Nasdaq Composite slipped less than 0.1%.

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