Jakarta. Indonesia’s benchmark stock index closed higher on Monday, mirroring gains on Asian markets and Wall Street, as investors positioned ahead of a packed week of economic data that could shape regional market sentiment and the Federal Reserve’s policy outlook.

The Jakarta Composite Index (JCI) rose 0.44 percent to end at 6,927.09, gaining 30.28 points, although it remained below the psychological 7,000 level. The index moved within a narrow band of 6,876 to 6,949 throughout the session, supported by selective buying across sectors.

The gains came after US equities closed at record highs last Friday, with the S&P 500 adding 0.5 percent to 6,173.07 and the Nasdaq Composite climbing to a fresh peak of 20,273.46. The Dow Jones Industrial Average advanced 1 percent to 43,819.27 as markets welcomed Canada’s decision to scrap plans for a digital services tax, allowing trade talks with the US to resume.

“Investors are turning cautious yet constructive ahead of major data releases, including US labor market figures, inflation updates, and signals from Fed Chair Jerome Powell,” Kiwoom Sekuritas Indonesia said in a note on Monday.

US data on JOLTS job openings, nonfarm payrolls, and unemployment for June will be released earlier than usual this week due to the July 4 holiday, while investors are also awaiting the Fed’s preferred inflation gauge and Powell’s remarks for further clues on potential rate cuts. Economists expect at least two cuts before the end of 2025 as inflation, while easing, remains above the Fed’s 2 percent target.

In the region, sentiment was mixed. Japan’s Nikkei 225 climbed 0.8 percent to 40,487.39, lifted by technology stocks, while South Korea’s Kospi gained 0.5 percent to 3,071.70. Australia’s S&P/ASX 200 added 0.3 percent to 8,542.30.

China’s Shanghai Composite rose 0.6 percent to 3,444.43, with factory activity showing slight improvement in June following a tariff truce between Beijing and Washington. However, Hong Kong’s Hang Seng Index slipped 0.9 percent to 24,072.28 as investors weighed property sector risks. Taiwan’s Taiex fell 1.4 percent, and India’s Sensex was down 0.6 percent, while Thailand’s SET Index gained 0.7 percent.

In Europe, markets opened softer. Germany’s DAX dipped 0.2 percent to 23,979.42, France’s CAC 40 fell 0.2 percent to 7,676.98, and the UK’s FTSE 100 edged down 0.3 percent to 8,773.30, with investors monitoring the global trade environment as the US faces a July 9 deadline for imposing retaliatory tariffs if deals are not reached with trading partners.

The Indonesian market will also watch for China’s June manufacturing PMI, UK Q1 GDP, and Japan’s May industrial production figures this week, which could affect regional risk appetite.

In the currency market, the US dollar slipped to 144.26 yen, while the euro was little changed at $1.1721. Oil prices eased, with U.S. benchmark crude trading at $65.37 per barrel and Brent crude at $66.62 per barrel.

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