Selective Buying Lifts Jakarta Composite Index
Jakarta. Indonesia’s benchmark Jakarta Composite Index closed higher on Tuesday, rising 36.81 points, or 0.43 percent, to 8,686.40, even as investors remained cautious ahead of key global economic data releases.
Trading activity was solid, with turnover reaching Rp 29.47 trillion ($1.77 billion). A total of 48.39 billion shares changed hands across 2.72 million transactions. Market breadth was positive, with 372 stocks advancing, 312 declining and 273 ending flat.
Several stocks posted outsized gains, led by shipping company Bina Buana Raya (BBRM), which surged 34.75%. Dua Putra Utama Makmur (DPUM) climbed 25.89%, while Puri Sentul Permai (KTDN) rose 2%. Ancara Logistic Indonesia (ALII) also jumped 24.71%.
On the losing side, Bali Towerindo Sentra (BALI) fell 14.98%, followed by Eratex Djaja (ERTX), down 14.84%. Citatah (CTTH) slid 14.68% and Presisi (PPRE) slipped 14.65%.
Pilarmas Investindo Sekuritas said investors were largely holding back positions ahead of delayed US economic data releases following the government shutdown. The data in focus include retail sales, labor market indicators and inflation figures for October and November, which are expected to shape expectations for the Federal Reserve’s monetary policy direction in 2026.
Regional sentiment was weighed down by signs of slowing economic momentum in China. Recent data showed retail sales and industrial production growing below expectations, compounded by weaker fixed-asset investment and falling new home prices, pointing to subdued domestic and external demand.
From the domestic front, fiscal risks also lingered after the finance minister warned of a potential widening in the 2025 tax revenue shortfall. As of end-October, tax revenue realization stood at Rp 1,459 trillion, equivalent to 70.2 percent of the 2025 outlook target of Rp 2,076.9 trillion.
Asian markets broadly retreated on Tuesday, tracking weaker US futures ahead of upcoming US employment and inflation reports. Japan’s Nikkei 225 dropped 1.6 percent to 49,383, while Hong Kong’s Hang Seng slid 1.6 percent and South Korea’s Kospi tumbled 2.2 percent. Chinese equities also weakened after retail sales in November rose just 1.3 percent year on year, the slowest pace since the pandemic in 2022.
Overnight, Wall Street ended mixed. The S&P 500 slipped 0.2% , the Dow Jones Industrial Average edged down 0.1%, and the Nasdaq composite fell 0.6%.
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