JAKARTA – Jakarta Composite Index (JCI) edged up 0.13% at the close of the second trading session on Friday (11/4), despite market concerns over the escalating trade war between the United States (US) and China. China has announced an import tariff hike to 125%, effective Saturday (12/4), in retaliation for the US decision to raise its own tariffs to the same level, announced on Tuesday (9/4).

At the close of trading, the JCI stood at 6,262.23, up 8.20 points. This was a more modest gain compared to Thursday’s (10/4) 4.79% jump. The index opened at 6,195.57, hitting an intraday high of 6,298.78 and a low of 6,195.57.

The index’s upward movement was supported by several big-cap stocks across banking, energy, and food processing sectors. PT Bank Mandiri (Persero) Tbk (BMRI) rose 1.49% to IDR 5,100, PT Bank Negara Indonesia (Persero) Tbk (BBNI) gained 3.05% to IDR 4,390, and PT Bank Central Asia Tbk (BBCA) edged up 0.61% to IDR 8,275.

Among energy stocks, PT Alamtri Resources Indonesia Tbk (ADRO) advanced 0.88% to IDR 1,715, PT Indo Tambangraya Megah Tbk (ITMG) rose 0.54% to IDR 23,400, and PT Barito Renewables Energy Tbk (BREN) surged 3% to IDR 5,150.

Global stock markets showed mixed reactions. The Dow Jones Industrial Average (DJIA) fell 2.50% to 3,593.66; the S&P 500 declined 4.30% to 5,222.45; and the NYSE Composite slipped 2.76% to 17,890.57.

Meanwhile, positive momentum was seen in Asian markets, with the Hang Seng Index up 1.13% to 20,914.69 and the Shanghai Index gaining 0.45% to 3,238.23. (LK/ZH)