Geopolitical Strife Pressures Indonesia Market

2026-03-02 02:51 By Farida Husna 1 min. read

Indonesia’s IDX Composite fell 114 points, or 1.4%, to 8,118 on Monday, the first trading day of March, after a muted prior session.

Nearly all sectors weakened, with cyclicals, infrastructure, property, and industry among the top laggards, as U.S.

futures slumped following President Trump’s pledge to continue combat operations in Iran after three U.S.

service members were killed.

Traders also turned cautious ahead of key domestic data later today, including February inflation and trade figures, while concerns lingered that the upcoming PMI data in main trading partner China may reflect holiday-related weakness.

Still, losses were cushioned by expectations of fiscal expansion through social programs during Ramadan and Eid al-Fitr.

Among major decliners were Vale Indonesia (-5.1%), Unilever Indonesia (-3.8%), Charoen Pokphand (-3.5%), and Bank Mandiri (-2.4%).

In contrast, energy stocks surged, led by Medco Energi (8.7%), Adaro Andalan Indonesia (8.1%), and Aneka Tambang (4.4%).



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Geopolitical Strife Pressures Indonesia Market
Indonesia’s IDX Composite fell 114 points, or 1.4%, to 8,118 on Monday, the first trading day of March, after a muted prior session. Nearly all sectors weakened, with cyclicals, infrastructure, property, and industry among the top laggards, as U.S. futures slumped following President Trump’s pledge to continue combat operations in Iran after three U.S. service members were killed. Traders also turned cautious ahead of key domestic data later today, including February inflation and trade figures, while concerns lingered that the upcoming PMI data in main trading partner China may reflect holiday-related weakness. Still, losses were cushioned by expectations of fiscal expansion through social programs during Ramadan and Eid al-Fitr. Among major decliners were Vale Indonesia (-5.1%), Unilever Indonesia (-3.8%), Charoen Pokphand (-3.5%), and Bank Mandiri (-2.4%). In contrast, energy stocks surged, led by Medco Energi (8.7%), Adaro Andalan Indonesia (8.1%), and Aneka Tambang (4.4%).
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Indonesian stocks dipped 58 points, or 0.7%, to 8,174 in Friday morning trade, marking a second straight loss amid weakness in U.S. futures after Wall Street closed mostly lower overnight, with Nvidia’s strong earnings results failing to lift investors' sentiment. Caution also persisted ahead of key domestic releases next week, including February inflation and January trade data, while China’s upcoming PMI readings added concern that the week-long Spring Festival may weigh on factory and services activity. On the trade front, U.S. President Trump imposed a 104% tariff on Indonesian solar products, citing subsidies that hurt U.S. producers. Most sectors in the IDX Composite slipped, led by energy, financials, and transport. Notable laggards included United Tractor (-3.5%), Indofood Sukses Makmur (-2.6%), and Barito Pacific (-1.5%). The market is heading for its first weekly drop in three, contributing to a second consecutive monthly decline, down about 1.7% so far.
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Indonesia Stocks Retreat, Geopolitical Risks and Local Data in Focus
Indonesia’s IDX Composite slipped 58 points, or 0.7%, to 8,268 in early Thursday trade, erasing prior-session gains and mirroring weakness in U.S. futures amid persistent concerns over U.S.–Iran tensions. Sentiment was further weighed by caution ahead of key domestic releases next week, including February inflation and January trade data. Meanwhile, authorities are reportedly monitoring labor conditions after reports of mass layoffs in the key manufacturing sector in East Java, ahead of the festive season. Still, losses were partly cushioned by news that Eid-ul-Fitr allowances for civil servants have been finalized and await presidential approval, a measure expected to bolster seasonal consumption and travel. All sectors traded lower, with transport, healthcare, and basic materials under pressure. Notable laggards included Merdeka Copper Gold (-6.8%), Semen Gresik (-2.6%), Medco Energi (-2.3%), and Surya Citra Media (-1.4%).
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