Jakarta. Jakarta Composite Index (JCI) climbed 62 points, or 1.06%, to 5,806 at Friday's opening, tracking gains across Asian markets after the Dow Jones hit another record high overnight, while investors also welcomed Indonesia's plan to offer incentives for the new Indonesian International Financial Center (PFII).

The benchmark index moved between 5,805 and 5,852 in early trade. Trading volume reached 1 billion shares worth Rp 629 billion ($35.03 million) across more than 75,000 transactions. Advancers outnumbered decliners 346 to 108, while 179 stocks were unchanged.

Phintraco Sekuritas said the JCI is likely to consolidate around the 5,700-5,800 range.

"The JCI has the opportunity to consolidate within the 5,700-5,800 range," the brokerage wrote in a research note on Friday.

The brokerage said the government is preparing a range of incentives to attract investors to the Indonesian International Financial Center (PFII), including easier immigration, employment, residency, licensing, and tax regulations.

"Assets managed by the PFII could become a source of financing for various domestic projects, including those undertaken by Danantara," Phintraco Sekuritas said.

Phintraco also highlighted that the Financial Services Authority (OJK) will begin supervising mineral and strategic commodity exchanges from Jan. 1, 2027, under its expanded mandate granted by Law No. 4/2026 on Financial Sector Development and Strengthening (P2SK Law).

The new regulation significantly broadens OJK's responsibilities in the financial sector, including oversight of public fund management.

"This includes the Hajj Financial Management Agency (BPKH), the Public Housing Savings Fund (Tapera), as well as regulations governing reserve requirements for crypto assets," Phintraco Sekuritas said.

Global sentiment was mixed overnight. Most US stocks advanced on Thursday, with the Dow Jones Industrial Average surging 594 points, or 1.1%, to another record high. The S&P 500 edged up less than 0.1%, while the Nasdaq Composite fell 0.8% as weakness in semiconductor and artificial intelligence-related stocks offset broader market gains.

Across Asia as of 8:53 a.m. Jakarta time, Japan's Nikkei rose 0.32%, South Korea's Kospi gained 1.22%, Hong Kong's Hang Seng climbed 1.51%, and China's Shanghai Composite advanced 0.50%.

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