Jakarta. Jakarta Composite Index opened higher on Friday, gaining 31.28 points or 0.36 percent to 8,651.76, before slipping into a mixed trajectory within the 8,614–8,651 range.

RTI data showed that 1.95 billion shares changed hands in the early minutes of trade, with turnover reaching Rp 1.11 trillion ($66.60 million) across more than 123,000 transactions. A total of 278 stocks advanced, 149 declined, and 213 were unchanged.

Analysts said the market’s muted reaction to the US Federal Reserve’s rate cut signals that local investors are opting for year-end profit taking rather than extending gains. Pilarmas Investindo Sekuritas noted that the Fed narrative was overshadowed by renewed concerns over US trade conditions and potential tariff moves under Donald Trump.

Pilarmas highlighted that the US trade deficit narrowed nearly 11 percent in September to $52.8 billion, its smallest gap since mid-2020, driven by a historic surge in exports, jumping from minus 0.2 percent to 3 percent, led by non-monetary gold and pharmaceuticals. Imports of capital goods, autos, and consumer products also declined.

“The US also broke a record for exports to Switzerland. This is what worries us. With the US economy improving, we see bigger room and potential for Trump to keep pushing tariff pressures,” Pilarmas wrote.

Global sentiment remained mixed.

Wall Street set fresh records on Thursday, with the S&P 500 rising 0.2 percent to a new all-time high and the Dow Jones Industrial Average surging 646 points or 1.3 percent. The Nasdaq composite slipped 0.3 percent as investor doubts grew over heavy AI-related spending by Oracle and broader valuations in the sector. Nvidia fell 1.5 percent, dragging on the S&P 500.

Asian markets were mostly higher, with Nikkei climbing 332 points to 50,480, Kospi adding 13 points to 4,123, and Hang Seng jumping 231 points to 25,761. Meanwhile, China’s Shanghai SSE edged down 4 points to 3,869.

On the domestic front, the Indonesia Stock Exchange reopened trading for eight previously suspended stocks on Friday: Ketrosden Triasmitra (KETR), Asri Karya Lestari (ASLI), Arkora Hydro (ARKO), Maha Properti Indonesia (MPRO), Buana Artha Anugerah (STAR), Kioson Komersial Indonesia (KIOS), Panca Global Kapital (PEGE), and Djasa Ubersakti (PTDU).

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