Wage Uncertainty, Year-End Pause Weigh on Jakarta Shares
Jakarta. Jakarta Composite Index closed lower on Tuesday, shedding 61.06 points or 0.71% to finish at 8,584, as trading activity softened ahead of the Christmas holiday and year-end leave.
Total turnover reached Rp 23.5 trillion ($1.40 billion), with 39.1 billion shares changing hands across 2.73 million transactions. Market breadth was negative, as 387 stocks declined, outweighing 292 gainers, while 279 shares were unchanged.
Pilarmas Investindo Sekuritas said the benchmark came under pressure as investors trimmed positions ahead of the long holiday break. The brokerage added that the market was also pricing in uncertainty surrounding minimum wage announcements in several provinces, amid pushback from labor unions and business groups against the government’s proposed 2026 wage formula. The government has issued a new regulation on wages and instructed governors to set provincial minimum wages by Dec. 24, 2025.
On the gainers’ board, Trimitra Prawara Goldland jumped 25%, followed by Personel Alih Daya, which also surged 25%, and Sinergi Inti Andalan Prima, up 24.8%. Sekar Bumi advanced 24.7%.
On the losing side, Sinergi Multi Lestarindo tumbled 15%, while Superbank Indonesia slid 14.7%. Pudjiadi Prestige also dropped 14.7%.
Across the region, Asian markets were mostly higher after Wall Street benchmarks opened the week in positive territory. Japan’s Nikkei 225 was flat at 50,412.87, while the dollar weakened against the yen after Japanese officials warned they would intervene if the currency depreciated sharply. Hong Kong’s Hang Seng Index slipped 0.1% to 25,774, the Shanghai Composite edged up 0.1% to 3,919, and South Korea’s Kospi rose 0.3% to 4,117.
Pilarmas noted that broader Asian sentiment tracked gains on Wall Street, supported by expectations of further interest rate cuts by the Federal Reserve. The brokerage said investor focus was shifting to upcoming third-quarter GDP data, which could offer clearer signals on the health of the US economy and the future policy path of the Fed.
US markets will close early on Wednesday for Christmas Eve and remain shut on Thursday for Christmas. Despite the shortened trading week, several economic reports are scheduled that may provide further insight into economic conditions.
Overnight on Monday, the S&P 500 climbed 0.6%, the Dow Jones Industrial Average gained 0.5%, and the Nasdaq Composite advanced 0.5%.
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