Tech Momentum and Wall Street Optimism Drive Jakarta’s Market Rebound
Jakarta. Indonesia’s benchmark stock index opened higher on Tuesday, lifted by gains in technology shares and anticipation of fresh foreign exchange reserve data.
The Jakarta Composite Index (JCI) climbed 43 points, or 0.52 percent, to 8,182 shortly after opening, moving within a tight 8,173–8,193 range.
Market turnover reached Rp 1.5 trillion ($90.4 million) from 1.7 billion shares traded in more than 160,000 deals, with 230 stocks advancing, 201 declining, and 183 unchanged.
According to Phintraco Sekuritas, the technology sector booked the largest gains, while industrial stocks saw the steepest losses. The brokerage said investors are now turning their attention to Bank Indonesia’s upcoming release of September’s foreign exchange reserves, which are expected to rebound to $159 billion, up from $150.7 billion in August, when they slipped from $152 billion in July.
Separately, the Indonesia Stock Exchange (IDX) lifted trading suspensions on eight listed companies as of the first trading session on Tuesday. The stocks include Petrosea (PTRO), Asri Karya Lestari (ASLI), Koka Indonesia (KOKA), Timah (TINS), Geoprima Solusi (GPSO), Oscar Mitra Sukses Sejahtera (OLIV), Dana Brata Luhur (TEBE), and Pradiksi Gunatama (PGUN).
IDX Transaction Supervision Division Head Yulianto Aji Sadono said the move allows investors to resume trading these shares on both regular and cash markets. He added that the previous suspensions were imposed to “cool down” prices after significant cumulative gains, as part of the bourse’s investor protection measures.
On Wall Street, the S&P 500 climbed 0.4 percent to an all-time high of 6,740.28 following mixed trading on Monday. The Dow Jones Industrial Average slipped 63 points, or 0.1 percent, to 46,694.97, while the Nasdaq Composite advanced 0.7 percent to a record 22,941.67. Gains were driven largely by artificial intelligence optimism, with Advanced Micro Devices surging nearly 24 percent after announcing a chip deal with OpenAI.
Japan’s Nikkei 225 jumped 0.6 percent after the ruling Liberal Democratic Party named Sanae Takaichi as its new leader, boosting investor confidence. Meanwhile, markets in China and South Korea were closed for national holidays
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