Jakarta. Jakarta Composite Index (JCI) opened at 8,743 on Tuesday, climbing 33 points or 0.38 percent in early trade and once again setting a fresh all-time high.

In the first ten minutes, turnover hit Rp 2.47 trillion ($147.89 million) with 5.57 billion shares changing hands across more than 350,000 transactions. 226 stocks advanced, 278 declined, and 192 were unchanged.

China’s latest trade data continued to lift sentiment. Pilarmas Investindo Sekuritas said exports rebounded from –1.1 percent to 5.9 percent, while imports strengthened from 1 percent to 1.9 percent, widening the monthly surplus to $100 billion from $90 billion. Cumulatively, China’s surplus has now surpassed $1 trillion for the first time.

Pilarmas attributed the rebound to stronger shipments to the European Union, up 15 percent and to Africa, which jumped nearly 28 percent, offsetting slower growth to Southeast Asia at 8.4 percent. The firm added that the expanding surplus offers some cushion for an economy still feeling the strain of weak consumption and property-sector pressure. Policymakers are signaling that 2026 will focus on rebuilding domestic demand through measured stimulus, more proactive fiscal support, and looser monetary settings.

The brokerage also pointed to domestic developments, including Finance Minister Purbaya Yudhi Sadewa’s plan to impose gold and coal export duties starting 2026, targeting Rp 23 trillion in additional state revenue, Rp 3 trillion from gold and Rp 20 trillion from coal.

The gold duty will follow a progressive structure: 7.5–12.5 percent when global prices sit at $2,800–<3,200, and 10–15 percent when prices exceed $3,200, with the highest tier applied to dore.

Pilarmas warned that the policy could initially squeeze margins for gold producers such as MDKA, PSAB, ARCI, and UNTR, while coal miners including ADRO, ITMG, INDY, HRUM, and BSSR may face competitiveness risks. Companies expanding downstream, such as Adaro’s industrial projects and INDY’s EV battery and smelter investments, are seen as better positioned in the medium term.

Overnight, US equities eased from recent highs. The S&P 500 slipped 0.3 percent to 6,846, the Dow Jones Industrial Average dropped 215 points or 0.4 percent to 47,739, and the Nasdaq edged down 0.1 percent to 23,545.

The market has grown calmer after weeks of volatility, though traders are bracing for the Federal Reserve’s rate decision on Wednesday. Investors expect a third rate cut this year, but the Fed’s guidance on 2026 remains the key focus.

Across Asia, Japan’s Nikkei rose 96 points or 0.19 percent to 50,677, while South Korea’s Kospi slipped 25 points or 0.61 percent to 4,129. Hong Kong’s Hang Seng gained 15 points or 0.05 percent to 25,780, and Shanghai’s SSE eased 8 points or 0.20 percent to 3,916.

On the domestic bourse, stocks under the UMA and IDX special monitoring list include Capitol Nusantara Indonesia (CANI), LCK Global Kedaton (LCKM), and Djasa Ubersakti (PTDU).

CANI has surged 80 percent over the past month, LCKM jumped 50.43 percent, and PTDU soared 437.5 percent. The exchange urged investors to review the companies’ responses to its confirmation requests and stay alert to disclosure quality and fundamental performance.

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