Market Pullback Drags JCI from All Time High
Jakarta. Jakarta Composite Index (JCI) ended in negative territory on Thursday, closing at 8,545 after strong profit taking and continued foreign outflows pressured the market.
The benchmark index moved within a range of 8,521–8,622 during the session.
Trading volume reached 51.62 billion shares, with a turnover of Rp 27.28 trillion ($1.64 billion) and more than 2.96 million transactions. A total of 283 stocks advanced, 382 declined, and 144 closed flat.
Pilarmas Investindo Sekuritas said the index retreated after touching fresh all-time highs this week, noting that profit taking and foreign selling weighed on sentiment. Foreign investors posted Rp 506.34 billion ($30.43 million) in net sales on the regular market yesterday.
Regional markets extended their positive trend, tracking gains on Wall Street as investors now price in an over 80 percent chance that the US Federal Reserve will cut interest rates by 25 basis points next month. The Fed’s latest Beige Book signaled little change in overall economic activity across its 12 districts, but recent data, including lower weekly jobless claims and weaker consumer confidence, strengthened expectations for further easing.
Japan’s Nikkei 225 rose 1.2 percent to 50,167, supported by optimism over a potential Fed cut and reports that the Japanese government plans to issue 11 trillion yen ($70.5 billion) in bonds to fund its economic package. Tech shares recovered, with SoftBank Group up 3.6 percent and Kioxia Holdings climbing 7.9 percent after the previous day’s sharp drop.
Hong Kong’s Hang Seng edged up 0.1 percent to 25,952, while the Shanghai Composite added 0.3 percent to 3,875. Gains were capped by industrial profit data showing only 1.9 percent year-on-year growth for major Chinese firms in the first ten months of 2025, down from 3.2 percent previously.
South Korea’s Kospi gained 0.7 percent to 3,986 after the Bank of Korea kept its policy rate at 2.5 percent to maintain financial stability amid a weaker currency and rising housing concerns.
On Wall Street, stocks closed higher for a fourth straight day. The S&P 500 rose 0.7 percent to 6,812, the Dow Jones gained 0.7 percent to 47,427, and the Nasdaq advanced 0.8 percent to 23,214. Technology shares led the rally as traders bet on a nearly 83 percent chance of a Fed rate cut in December, CME Group data showed.
On the domestic board, Satria Mega (SOTS), Bank Yudha Bhakti (BBYB), and Trimuda Nuansa Citra (TNCA) were among the top gainers, jumping 24.87 percent, 24.75 percent, and 24.58 percent, respectively. Citra Tubindo (CTBN) also gained 19.81 percent.
Meanwhile, Jaya Agra Wattie (JAWA) fell 14.73 percent, Terang Dunia Internusa (UNTD) dropped 14.63 percent, Carsurin (CRSN) slid 14.45 percent, and Guna Timur Raya (TRUK) lost 13.68 percent.
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