JCI Opens Higher as Asian Markets and Wall Street Falls
Jakarta. Indonesia’s benchmark stock index opened higher on Wednesday, though sentiment remained mixed as the bourse suspended several stocks and global markets faced fresh turbulence.
The Jakarta Composite Index (JCI) opened 0.4 percent higher at 8,162, trading within a range of 8,114 to 8,169. Trading volume reached 4,749 billion shares with turnover of Rp 3,328 trillion across more than 376,951 transactions. A total of 220 stocks advanced, 262 fell, and 183 were flat, bringing the market capitalization to Rp 14,900 trillion.
The Indonesia Stock Exchange (IDX) halted trading in four issuers, Multisarana Intan Eduka (MSIE), Geoprima Solusi (GPSO), Indonesian Tobacco (ITIC), and Dana Brata Luhur (TEBE). The bourse also placed 11 stocks under unusual market activity (UMA) watch, including Pudjiadi Prestige (PUDP), Multi Garam Utama (FOLK), Bank Permata (BNLI), VKTR Teknologi Mobilitas (VKTR), and Petrosea (PTRO).
“The announcement of UMA does not necessarily indicate a violation of capital market regulations. The Exchange is observing the trading patterns, and investors are advised to pay close attention to issuers’ responses, performance, and disclosure of information,” the IDX said.
On Wall Street, US indexes retreated after a three-day record-setting streak. The S&P 500 slipped 0.6 percent, the Dow Jones Industrial Average eased 0.2 percent, and the Nasdaq composite fell 0.9 percent. Federal Reserve Chair Jerome Powell said stock valuations now look “fairly highly valued.” Nvidia dropped 2.8 percent after paring gains from its OpenAI-linked rally earlier this week.
Pharma stocks were also in the spotlight after former US President Donald Trump warned pregnant women against using Tylenol, citing autism risks in children. Kenvue, the drug’s maker, disputed the claim and recovered 1.6 percent after steep losses the day before. No new research was cited to support Trump’s remarks.
Gold, meanwhile, continued its record-breaking rally and briefly topped $3,800 per ounce. It’s soared nearly 45 percent so far this year, even more than the US stock market, in part on expectations that the Fed will cut interest rates to help the slowing US job market.
Elsewhere in Asia, Japan’s Nikkei slipped 0.38 percent, Korea’s Kospi fell 1 percent, Hong Kong’s Hang Seng up by 0.2 percent, and China’s SSE remained flat.
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