Jakarta. Indonesian stocks kicked off the week on a positive footing as the Jakarta Composite Index climbed 44 points to 8,676 on Monday morning, tracking firmer global sentiment ahead of a closely watched US Fed meeting.

Within the first 12 minutes of trade, the benchmark moved between 8,642 and 8,682, with volume hitting 5.34 billion shares. Turnover reached Rp 2.40 trillion ($143.91 million) across 358,806 transactions, with 311 stocks rising, 228 declining, and 169 remaining flat.

Pilarmas Investindo Sekuritas said sentiment improved after US data for September showed steady personal income and easing spending pressures, helping cool inflation. Mixed PCE readings still pointed to softer core inflation, supported by a drop in University of Michigan inflation expectations. With Europe’s GDP coming in slightly firmer, Pilarmas noted that the broader backdrop strengthened the probability of a Fed rate cut.

The brokerage added that key US releases this week, October personal income and spending, PCE, PPI, and JOLTS, would heavily influence the Fed’s December 11 decision. Market odds of a 25-basis-point cut were already near 96 percent, and Pilarmas expected risk assets to gain further if incoming data align with expectations. They also monitored China’s trade and inflation prints, along with Indonesia’s Consumer Confidence Index and auto sales. A Fed cut, they said, could give Bank Indonesia stronger conviction to ease policy, offering more upside for the JCI.

On the domestic policy front, Pilarmas highlighted the government’s revised export-proceeds rules (DHE SDA), which will require all natural-resource export earnings to be placed in state-owned banks starting January 2026. The change is expected to boost foreign-currency liquidity for Himbara banks, widen their FX lending capacity, and potentially intensify competition with private lenders. Combined with projected bond yields of 6.15 percent to 6.40 percent, Pilarmas viewed these conditions as supportive for the JCI’s next target of 8,940.

Global markets were broadly steady. The S&P 500 edged up 0.2 percent on Friday, closing just 0.3 percent below its record after briefly touching it intraday. The Dow Jones added 104 points, while the Nasdaq rose 0.3 percent. In Asia, Japan’s Nikkei opened at 50,643, up 152 points. South Korea’s Kospi slipped 9 points to 4,109, Hong Kong’s Hang Seng fell 18 points to 26,067, and Shanghai’s SSE gained 7 points to 3,909.

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