Indonesian Stock Market Declines Amidst Global Uncertainty
Jakarta, Indonesia – The Jakarta Composite Index (JCI) experienced a significant downturn on Friday, March 6, 2026, as global uncertainties surrounding geopolitical tensions and economic projections weighed on investor sentiment. As of 09:45 WIB (Western Indonesian Time), the JCI had fallen by 156.10 points, or 2.02%, to reach 7,554.44.
Market Performance
The trading session saw 126 stocks advance, even as 533 declined, and 299 remained unchanged. Transaction volume reached IDR 4.46 trillion, involving 8.68 billion shares across 580,200 transactions. Market capitalization decreased to IDR 13,452 trillion.
Key Laggards
Shares of Sinar Mas, Bakrie, and Prajogo were identified as significant contributors to the market’s decline. Dian Swaistika Sentosa (DSSA), Barito Renewables Energy (BREN), and Bumi Resources Minerals (BRMS) were among the top underperforming stocks during the morning trading session.
Global Factors Influencing the Market
The Indonesian financial market is currently facing considerable pressure from several external factors. The escalating conflict between the US-Israel and Iran, coupled with surging oil prices and revised economic forecasts for China, are contributing to negative sentiment. Trading Economics reports that crude oil prices have reached their highest levels since July 2024.
Oil Price Surge
Brent oil closed at US$84 per barrel, a nearly 4% increase, while West Texas Intermediate (WTI) oil closed at US$81.01 per barrel, rising 8.5%. These prices represent the highest levels in nearly two years. Disruptions to global energy supplies, stemming from the conflict in the Middle East and reported attacks on oil tankers in the Strait of Hormuz, are driving the price increases.
China’s Economic Impact
Adding to the market pressure, the Chinese government has instructed major refineries to halt exports of diesel and gasoline, potentially impacting regional energy markets and economic activity.
Regional Market Trends
The downturn in the Indonesian stock market mirrors a broader trend across Asian markets. South Korea’s Kospi fell 0.87% despite posting its best day since 2008 in the previous session, while Kosdaq extended gains to 2.45%. Japan’s Nikkei 225 declined by 0.24%, and Topix experienced a larger drop of 0.42%. Australia’s S&P/ASX 200 Index fell 1.09%, primarily due to weakness in basic materials stocks. Hong Kong Hang Seng Index futures were also lower, at 25,037, compared to the HSI’s last closing price of 25,321.34.
Recent Market Performance
According to Jakarta Globe, the JCI had previously surged 1.56% on Thursday, March 5, 2026, driven by a recovery in US equities. However, this positive momentum has been overshadowed by the current global concerns. Yahoo Finance currently lists the IDX COMPOSITE at 7,509.10.
On March 4, 2026, the JCI closed down 4.57% to a level of 7,577, a decline attributed to global uncertainty and rising energy prices. Kompas.id reports that the future movement of the JCI will be largely determined by oil prices and rupiah stability.