US and Israel Launch Strikes on Iran, Raising Global Economic Concerns
On Saturday, February 28, 2026, the United States and Israel initiated air strikes targeting Iran, escalating tensions in the Middle East and prompting concerns about potential repercussions for global financial markets, including Indonesia’s Composite Stock Price Index (IHSG).
Targeting of Iranian Leadership
The attacks specifically targeted Iran’s Supreme Leader, Ayatollah Ali Khamenei, and President Masoud Pezeshkian, according to Reuters . Still, sources indicate that Ayatollah Khamenei was moved to a secure location prior to the strikes , .
Retaliation and Regional Impact
Iran responded to the attacks with retaliatory strikes against US military bases in the Middle East. Explosions were reported in Bahrain, the United Arab Emirates, Jordan, and Qatar .
Market Reactions and Expert Analysis
Analysts predict a significant impact on global stock markets. Wahyu Laksono, a capital market observer, stated that this conflict is more serious than previous Iran-Israel conflicts due to the involvement of the US and its allies . He anticipates potential negative consequences for the JCI (Jakarta Composite Index) beginning on Monday, March 2, 2026.
Indonesian Stock Exchange Performance
The Indonesian Stock Exchange (BEI) reported varied trading data for the week of February 23-27, 2026. The average daily transaction value increased by 25.35% to IDR 29.52 trillion, and the average daily transaction volume rose by 8.55% to 51.02 billion shares. However, the JCI decreased by 0.44% to close at 8,235,485, and market capitalization experienced a change of 1.03% to IDR 14,787 trillion.
Foreign investors recorded a net selling value of IDR 694.22 billion on February 27, 2026, and a total net sales value of IDR 9.51 trillion throughout 2026.
Who is Ayatollah Ali Khamenei?
Ayatollah Ali Khamenei, 86, has been Iran’s Supreme Leader since 1989, succeeding Ayatollah Ruhollah Khomeini . He remains a central figure in Iranian politics and a key target for the US and Israel.