Jakarta. Jakarta Composite Index closed lower on Thursday, falling 59 points or 0.68% to 8,618, as domestic stocks tracked mixed movements across Asian markets amid a lack of clear direction.

The benchmark index moved within a range of 8,618 to 8,730 during the session. RTI data showed trading volume reached 37.91 billion shares, with turnover totaling Rp 23.70 trillion ($1.42 billion) across more than 2.76 million transactions. Market breadth was negative, with 252 stocks advancing, 411 declining and 138 unchanged.

Gains were led by several small- and mid-cap stocks. Armada Berjaya Trans (JAYA) and Pelayaran Nasional Bina Buana Raya (BBRM) surged 34.62% and 34.46%, respectively, while Hillcon (HILL) climbed 29.08%. Fortune Indonesia (FORU) also posted strong gains, rising 24.80%.

On the downside, Perdana Bangun Pusaka (KONI) fell 15%, while Black Diamond Resources (COAL) and Mitrabahtera Segara Sejati (MBSS) slid 14.88% and 14.86%, respectively. Gunung Raja Paksi (GRRP) dropped 13.97%.

Pilarmas Investindo Sekuritas said sentiment remained cautious as investors weighed mixed regional cues. Domestically, the market took note of the World Bank’s projection that Indonesia’s economic growth will hover around 5% in 2025–2026 before gradually accelerating to 5.2% in 2027.

Pilarmas also pointed to Bank Indonesia’s decision to maintain a policy pause, keeping the benchmark interest rate unchanged at 4.75% for a third consecutive meeting on Wednesday, in line with market expectations. The central bank remains focused on rupiah stability and capital flow management.

On the global front, Pilarmas noted that technology stocks continued to weigh on sentiment, with concerns over elevated valuations and aggressive spending on artificial intelligence. Investor caution also increased ahead of monetary policy meetings by central banks in Europe and Japan scheduled for Thursday and Friday.

In China, investors awaited the release of foreign direct investment data for the first 11 months of the year. From January to October, FDI fell 10.3% year-on-year, extending a decline that has lasted for about two and a half years amid both external and domestic pressures.

Across Asia, markets weakened after global technology shares dragged Wall Street to its worst session in nearly a month. Investors were also waiting for US inflation data due later in the day and a Bank of Japan rate decision on Friday, where a 25-bps hike is widely expected despite Japan’s economic contraction in the July–September quarter.

Japan’s Nikkei 225 slid 1% to 49,001.50, led by losses in technology stocks. SoftBank dropped 4%, while Tokyo Electron and Advantest fell 3.2% and 3.3%, respectively.

South Korea’s Kospi sank 1.5% to 3,994.51, pressured by selling in electronics and automotive shares. LG Electronics dropped 3.1%, while Samsung Electronics eased 0.3%.

Chinese markets were mixed, with Hong Kong’s Hang Seng slipping 0.3% to 25,385.93, while the Shanghai Composite edged up 0.3% to 3,880.49.

Overnight, US stocks fell sharply, with the S&P 500 down 1.2%, the Dow Jones Industrial Average losing 0.5%, and the Nasdaq Composite sliding 1.8%, as declines in artificial intelligence-related stocks outweighed gains in other sectors.

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