Jakarta. The Jakarta Composite Index (JCI) ended lower on Thursday despite briefly touching an all-time intraday high, as profit-taking erased earlier gains. The benchmark index slipped 16.7 points, or 0.21 percent, to close at 8,008.18 after moving within the range of 7,993–8,068.

A total of 261 stocks advanced, 410 declined, and 131 were unchanged, with transaction value reaching Rp 21.3 trillion ($1.2 billion)  Earlier in the day, the JCI appeared poised to notch a record closing high before late-session selling pressure set in.

Pilarmas Investindo Sekuritas said in a research note that market sentiment remained broadly positive, supported by both global and domestic factors. Regionally, Asian markets tracked gains after the US Federal Reserve delivered a widely expected cut to its benchmark interest rate.

The Fed lowered its short-term rate by a quarter-point to about 4.1 percent on Wednesday, its first reduction since December, and projected two more cuts this year as concerns grow over a weakening labor market.

Domestically, optimism was lifted by the government’s Rp 16.23 trillion ($985 million) stimulus package to boost household consumption, create jobs, and ease business costs through the end of 2025. Key measures include Rp 198 billion for internships benefiting 20,000 fresh graduates, expanded income tax subsidies for over 552,000 tourism and hospitality workers, and Rp 7 trillion in food aid to distribute rice to millions of low-income families. Informal workers such as ride-hailing drivers and couriers will also gain support through subsidized workplace insurance premiums.

Across Asia, markets were mixed. Japan’s Nikkei 225 gained 1.3 percent to 45,362.70, lifted by tech heavyweights such as Disco, Tokyo Electron, and SoftBank, as the Bank of Japan kicked off its two-day policy meeting. South Korea’s Kospi rose 1.2 percent to 3,455.06, led by semiconductor giants SK Hynix and Samsung Electronics.

Meanwhile, Chinese shares underperformed, with Hong Kong’s Hang Seng slipping 0.2 percent to 26,856.02 and the Shanghai Composite shedding 0.6 percent to 3,853.74. Australia’s S&P/ASX 200 fell 0.7 percent to 8,755.70 after jobs data showed employment declined in August despite a steady unemployment rate of 4.2 percent.

On Wall Street overnight, U.S. indexes closed mixed near record levels. The Dow Jones Industrial Average added 260 points, or 0.6 percent, while the S&P 500 eased 0.1 percent and the Nasdaq Composite lost 0.3 percent. 

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