Jakarta. Indonesian stocks rebounded on Wednesday, snapping the previous session's losses, even as the rupiah weakened to its lowest levels in years against the US dollar amid broad dollar strength and investor caution ahead of US employment data.

The Jakarta Composite Index (JCI) rose 1.09% to 5,704.7 in its opening session. As many as 261 stocks advancing, 152 declining, and 546 unchanged. Trading volume reached 506.1 million shares worth Rp 496.4 billion across 54,900 transactions.

Maritime logistics company Sillo Maritime Perdana surged 23.4%, leading gainers, followed by Magna Investama Mandiri, up 20.4%. Multitrend Indo, Panca Global Kapital and Agro Yasa Lestari also posted double-digit gains.

Despite Wednesday's rebound, BRI Danareksa Sekuritas said the benchmark index remains in a bearish technical trend, projecting support at 5,560 and resistance around 5,735.

The rupiah extended its decline against the dollar, falling 0.21% to Rp 17,944 per dollar in early spot trading after closing at Rp 17,906 on Tuesday. The currency came under pressure as the US Dollar Index strengthened to 101.323 and investors awaited US labor market data that could shape expectations for the Federal Reserve's interest-rate path.

Regional markets were mixed. Japan's Nikkei 225 gained 0.6%, while Australia's S&P/ASX 200 fell 0.4% and South Korea's Kospi dropped 1.8%. China's Shanghai Composite edged 0.1% higher, while Hong Kong markets were closed.

Oil prices traded slightly higher as investors monitored diplomatic efforts to implement a ceasefire agreement involving Iran, with benchmark US crude rising to $69.87 a barrel and Brent crude climbing to $73.25. Analysts said tanker traffic through the Strait of Hormuz remains below pre-conflict levels, keeping supply concerns in focus.

Overnight, Wall Street ended higher, with the S&P 500 rising 0.8%, the Dow Jones Industrial Average gaining 0.3% to a record close and the Nasdaq Composite advancing 1.5%, supported by bargain hunting after recent weakness in artificial intelligence-related stocks.

Add as a preferred source on Google +