Jakarta. Indonesia’s benchmark index opened slightly higher on Tuesday before losing momentum, as investors weighed strong domestic liquidity data against external cues.

Jakarta Composite Index (JCI) initially climbed 10.8 points, or 0.13%, to 8,656, but later reversed direction and moved mixed within a range of 8,624–8,667.

In the opening minutes, trading volume reached 1.97 billion shares, with turnover totaling Rp 1.15 trillion ($68.58 million) across 168,663 transactions. Market breadth was relatively balanced, with 209 stocks advancing, 187 declining, and 225 unchanged.

BRI Danareksa Sekuritas said early support came from positive sentiment surrounding Indonesia’s M2 money supply data, which hit its highest level in nearly three years, underscoring resilient domestic liquidity. Broad money (M2) expanded 8.3% year on year in November 2025, driven by a sharp 11.4% rise in narrow money (M1) and a 5.9% increase in quasi money.

Pilarmas Investindo Sekuritas noted that the liquidity trend continued to support business expansion, investment activity, and job creation. Higher net claims on the central government also reflected the role of an expansionary fiscal stance in sustaining economic momentum. However, slower growth in net foreign assets pointed to external pressures, including capital flow dynamics and balance of payments conditions. Even so, adjusted M0 growth remained solid, signaling Bank Indonesia’s accommodative yet measured monetary policy.

Overall, liquidity conditions in November 2025 were seen as broadly positive for the economy, with inflation risks remaining manageable as long as credit growth and money supply expansion stay aligned with productive capacity and external stability.

Going forward, market participants are expected to monitor rising gold prices alongside key global data releases, particularly US Durable Goods Orders and GDP growth figures, which could shape near-term sentiment.

Across Asia, markets mostly opened higher. Japan’s Nikkei edged up 28 points to 50,374, South Korea’s Kospi jumped 22 points to 4,127, Hong Kong’s Hang Seng gained 74 points to 25,875, and Shanghai’s SSE added 2 points to 3,919.

On Wall Street overnight, US stocks advanced at the start of what is expected to be a relatively calm holiday week, with gains broadly spread across sectors. Technology shares and banks led the rally, while industrial stocks also provided support. The S&P 500 rose 44 points, or 0.6%, to 6,878, the Dow Jones Industrial Average climbed 227 points, or 0.5%, to 48,362, and the Nasdaq Composite added 121 points, or 0.5%, to 23,428.

The advance pushed major indexes further into positive territory for the month as December nears its close. Technology stocks, particularly those linked to artificial intelligence, continued to drive market swings and are expected to play a decisive role in determining whether US markets end the year in the green.

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