Jakarta. Jakarta Composite Index (JCI) opened at 8,655, climbing 38 points or 0.44 percent at Wednesday’s start.

In the first ten minutes, the benchmark moved within 8,634–8,669, with 3.99 billion shares traded. Turnover reached Rp 2.34 trillion ($140.68 million), and transactions hit 313,000. Market breadth showed 266 gainers, 224 decliners, and 213 flat.

Pilarmas Investindo Sekuritas said the OECD had signaled that the global economy was entering a tougher phase, even as projections for the US, Europe, and several major economies were revised slightly higher. The OECD still expected global growth to cool from 3.2 percent in 2025 to 2.9 percent in 2026, as rising tariffs pressured inflation, household consumption, and investment. Pilarmas noted that tech trade continued to offer support, but the broader outlook remained fragile with meaningful downside risks.

From Europe, Pilarmas wrote in their research a mixed but improving inflation trend. Unemployment held at 6.4 percent, monthly inflation slipped to minus 0.3 percent, and the annual rate edged slightly higher. Rising services inflation kept the ECB cautious, though Pilarmas assessed that disinflation would likely continue into December. This opened the door for a potential rate cut at the ECB’s December 18 meeting, while both the ECB and the Fed were expected to face tighter policy room in 2026. With no major catalysts overnight, Pilarmas saw market impact as relatively contained.

Domestically, Pilarmas highlighted the government’s sizeable Rp 2,567.9 trillion allocation for eight priority programs under President Prabowo in 2026, equivalent to nearly 67 percent of the state budget. Key areas include food and energy security, the MBG program, education, healthcare, MSMEs, defense, and investment acceleration. Pilarmas viewed the plan as a strong potential growth driver but cautioned that heavier reliance on priority spending could strain fiscal space and increase exposure to commodity swings. Still, with solid execution and improved private-sector participation, Pilarmas believed Indonesia could edge closer to its high-growth goals.

On Wall Street, US stocks ended firmer on Tuesday as bond yields and bitcoin steadied. The S&P 500 rose 0.2 percent to 6,829.37, the Dow Jones added 185.13 points (0.4 percent) to 47,474.46, and the Nasdaq climbed 0.6 percent to 23,413.67. The Bank of Japan hinted at a potential rate hike, while investors maintained expectations for a Fed rate cut next week. The outlook afterward remained uncertain as inflation stayed above target and data releases were delayed by the earlier US government shutdown.

Asian markets opened mixed. Japan’s Nikkei jumped 237 points (+0.48 percent) to 49,540. Korea’s Kospi gained 16 points (+0.40 percent) to 4,010, marking a new all-time high. Hong Kong’s Hang Seng slipped 53 points (-0.20 percent) to 25,980, while China’s Shanghai SSE advanced 20 points (+0.51 percent) to 3,908.

Back in Jakarta, the Indonesia Stock Exchange lifted the trading suspension on four counters at the start of Wednesday’s session: Bukit Uluwatu Villa (BUVA), Sanurhasta Mitra (MINA), Red Planet Indonesia (PSKT), and Buana Artha Anugerah (STAR).