Jakarta. Indonesia's benchmark Jakarta Composite Index (JCI) rebounded to close at 6,010 on Friday, gaining 11 points, or 0.18%, as easing global oil prices and a stronger rupiah improved market sentiment despite persistent concerns over higher US interest rates.

Trading volume reached 1.15 billion shares, with a turnover of Rp 792 billion ($44 million) across 116,700 transactions. Advancers outnumbered decliners 236 to 220, while 215 stocks were unchanged.

The rally was supported by Brent crude prices falling toward $70 per barrel, easing concerns over Indonesia's fiscal deficit and inflation. Investor sentiment also received a boost from the government's plan to seek an additional Rp 50 trillion in budget savings for the Free Nutritious Meals (MBG) program, alongside the rupiah's appreciation to Rp 17,943 per US dollar.

BRI Danareksa Sekuritas (BRIDS) said investors are closely watching the latest US inflation data after the Core Personal Consumption Expenditures (PCE) Price Index rose 0.3% month-on-month and 3.4% year-on-year, marking its highest annual reading since October 2023.

The data reinforced expectations that the US Federal Reserve will keep interest rates higher for longer, potentially limiting further gains in the rupiah and increasing volatility in financial markets.

"Technically, the JCI is expected to move sideways, with support at 5,860 and resistance at 6,130," BRI Danareksa Sekuritas wrote in its Friday research note.

The brokerage said a breakout above 6,130 could pave the way for further gains, while a drop below 5,860 may trigger renewed selling pressure.

Wall Street ended mixed overnight. The Dow Jones Industrial Average rose 0.14% to 51,920.6, while the S&P 500 slipped 0.01% to 7,357.4, and the Nasdaq Composite fell 0.46 percent to 25,358.6.

US stocks were little changed after a volatile session as artificial intelligence-related shares rebounded, while Apple weighed on sentiment after raising prices on several of its products. The S&P 500 finished nearly flat, the Dow added 71 points, and the Nasdaq lost 0.5 percent.

Asian markets were broadly weaker in early Friday trade. As of 4 a.m. Jakarta time, Japan's Nikkei 225 had fallen 3.36% , South Korea's Kospi lost 3.51%, Shanghai's SSE Composite declined 1.24%, while Hong Kong's Hang Seng was 1.03%.

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