Jakarta. Jakarta Composite Index (JCI) staged a strong rebound on Wednesday, surging 2.75% or 195 points to close at 7,302, supported by easing global tensions and firmer regional markets. The benchmark moved within a wide range of 7,057–7,302 during the session.

Trading activity was robust, with volume reaching 38.42 billion shares and turnover totaling Rp 25.89 trillion ($1.53 billion), across more than 2.1 million transactions. Market breadth was firmly positive, with 574 gainers, 148 decliners, and 101 unchanged stocks.

Top gainers included Ever Shine Textile Industry (ESTI), which jumped 34.96%, Island Concepts Indonesia (ICON) rising 34.55%, Trisula Textile Industries (BELL) gaining 34.23%, and Ginting Jaya (WOWS) climbing 33.93%.

On the losing side, Rockfields Property Indonesia (ROCK) fell 14.77%, Nusantara Almazia (NZIA) dropped 14.11%, Prasidha Aneka Niaga (PSDN) declined 13.21%, and Alakasa Industrindo (ALKA) also slipped 13.21%.

Pilarmas Investindo Sekuritas said both external and domestic factors underpinned the rally.

“External and internal sentiments supported the JCI’s strengthening,” the brokerage said.

From the external side, Asian markets broadly advanced, driven by a surge in US futures following reports that Washington had sent a 15-point ceasefire proposal to Iran aimed at halting the conflict for one month.

Despite the gains, investors remained cautious amid lingering concerns over liquidity, growth momentum, and the risk of another spike in oil prices that could keep market volatility elevated in the near term.

Domestically, Finance Minister Purbaya Yudhi Sadewa reaffirmed that Indonesia would not breach the 3% fiscal deficit ceiling, with contingency measures to be considered only in the event of a major crisis.

Still, upside was partly capped by concerns that the government may raise fuel prices after the holiday period to offset higher global oil prices.

Oil prices fell more than 4% on Wednesday as hopes for de-escalation in the Iran conflict improved, while Asian equities moved higher. Brent crude dropped 4.2% to $96.07 per barrel, down from around $104 a day earlier.

In the region, Tokyo’s Nikkei 225 surged 3% to 53,806 and South Korea’s Kospi gained 1.6% to 5,643. Hong Kong’s Hang Seng rose 0.7% to 25,227, while China’s Shanghai Composite climbed 1.1% to 3,925. Shares of Pop Mart, the maker of Labubu dolls, fell more than 15% in Hong Kong after reporting annual revenue largely in line with expectations.

Geopolitical developments continued to shape sentiment. US President Donald Trump claimed progress in talks with Iran and postponed a deadline to escalate attacks on Iranian infrastructure, fueling optimism that the conflict could ease. However, Iran denied negotiations were underway, and military tensions in the Middle East persisted.

With the Strait of Hormuz remaining a critical route for crude oil and liquefied natural gas shipments, energy prices have been volatile. Pakistan has offered to host talks between Washington and Tehran, while reports said an additional 1,000 US troops from the 82nd Airborne Division may be deployed to the region.

Overnight, US markets closed lower. The S&P 500 fell 0.4% to 6,556, the Dow Jones Industrial Average edged down 0.2% to 46,124, and the Nasdaq Composite declined 0.8% to 21,761.

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