Indonesia\u2019s financial markets are expected to remain under pressure\ntoday. For a fuller projection of today\u2019s market, see page 3 of this\narticle.<\/p>\n
The IDX closed at 7,164.09 during yesterday\u2019s trading on Thursday\n(26\/3\/2026), down 1.89% or -138.03 points in a single day.<\/p>\n
Earlier on Wednesday, Iranian state media reported that the country\nwould reject the US ceasefire offer and had outlined its own conditions\nto end the war.<\/p>\n
From the US stock market, Wall Street tumbled across the board during\nThursday\u2019s trading, or early Friday Indonesian time.<\/p>\n
The S&P index fell 1.74% to close at 6,477.16, while the Nasdaq\nComposite dropped 2.38% to 21,408.08. The technology-heavy index has now\nentered correction territory, down more than 10% from its peak.\nMeanwhile, the Dow Jones Industrial Average fell 469.38 points or 1.01%\nto 45,960.11.<\/p>\n
Crude oil prices rose on Thursday, putting pressure on stock markets.\nBrent crude futures surged 5.66% to US$108.01 per barrel, while West\nTexas Intermediate rose 4.61% to US$94.48.<\/p>\n
As stocks weakened again and oil prices strengthened, yields on the\nUS government\u2019s 10-year and 2-year Treasury bonds both jumped.<\/p>\n
In response to the oil price surge, US President Donald Trump stated\nthat the spike and market pressures were not as bad as he had\nanticipated.<\/p>\n
Earlier on Thursday, Trump wrote on Truth Social that Iran \u201cmust get\nserious soon before it\u2019s too late, because if that happens, THERE IS NO\nWAY BACK, and the outcome will not be pretty.\u201d<\/p>\n
He also described Iranian negotiators as very different and strange,\nclaiming they were begging the US to reach a deal to end the war now in\nits fourth week.<\/p>\n
This statement came after Iran\u2019s Foreign Minister was reported to\nhave told state media on Wednesday that Iran\u2019s top authorities were\nreviewing the US proposal to end the war, but Tehran had no intention of\nholding talks with Washington.<\/p>\n
Meanwhile, Gulf states issued a joint statement on Thursday\ncondemning Iran\u2019s \u201ccriminal\u201d attacks from Iraqi territory on their\nenergy infrastructure. They also affirmed their readiness to defend\nthemselves going forward.<\/p>\n
\u201cWe value our fraternal relations with the Republic of Iraq, but we\nurge the Iraqi government to take the necessary steps to immediately\nstop attacks \u2026 against neighbouring countries,\u201d the statement said,\nquoted from CNBC International.<\/p>\n
\u201cThis is a fairly complacent market, in the sense that investors\nremain optimistic and willing to absorb bad news,\u201d Jed Ellerbroek,\nportfolio manager at Argent Capital Management, told CNBC.<\/p>\n
Tobin Marcus, head of US policy and politics at Wolfe Research,\nassessed that the latest market movements indicate investors are betting\nthat Iran may not be entirely honest.<\/p>\n
The market seems to conclude that Iran\u2019s negative public messages\nmight just be camouflage for a more compromising private stance.<\/p>\n
Movements in Indonesia\u2019s financial markets appear likely to remain\nvolatile this weekend, on Friday (27\/3\/2026).<\/p>\n
Talks of a ceasefire between the US-Israel and Iran remain murky; the\noptimism that emerged on Wednesday now seems to be fading.<\/p>\n
Market players are now more focused on the real impacts spreading to\nstakeholders\u2019 policies, industries, and real economies in various\ncountries, especially after the Strait of Hormuz blockade.<\/p>\n
Here are some updates and data still awaited by the market that could\npotentially influence today\u2019s movements:<\/p>\n
Update on the Strait of Hormuz Blockade<\/p>\n
Market hopes for a ceasefire are fading as both sides maintain\nhardline positions.<\/p>\n
Iran launched a new wave of missiles, while the US pushes a peace\nproposal including restrictions on Iran\u2019s nuclear programme and greater\ncontrol over the Strait of Hormuz.<\/p>\n
Since early March 2026, tensions between Iran and the US and its\nallies have triggered serious disruptions in the Strait of Hormuz, the\nworld\u2019s most important energy shipping route.<\/p>\n
Around 20 million barrels of oil per day, nearly 20% of global\nconsumption, typically pass through this strait. When this route is\ndisrupted, the effects ripple through global energy markets within days,\nnot weeks.<\/p>\n
Asia is the region feeling the impact most quickly due to high\ndependence on energy imports from the Middle East.<\/p>\n
Several countries are starting to feel the pressure as their energy\nreserves are relatively limited.<\/p>\n
The Philippines became the first country to declare an energy\nemergency. Their fuel stocks are down to about 45 days (as of 25-26\nMarch 2026). Many petrol stations have closed, fuel prices have\nskyrocketed, and public transport is limited.<\/p>\n
As a result, thousands of residents in Manila and other cities have\nbeen forced to walk to work to save fuel. Videos of groups walking have\ngone viral on social media.<\/p>\n
The government there is also promoting a four-day workweek and\ntemporarily relaxing fuel standards to conserve supplies. For context,\nthe Philippines imports 90% of its oil needs, so it is hit the\nfastest.<\/p>\n
In Pakistan, oil reserves are estimated to last only about 15-20\ndays, while Bangladesh has a buffer of around 20-25 days.<\/p>\n
Vietnam is in a similar range, with about 20 days of reserves. With\nsuch narrow breathing room, supply disruptions or energy price spikes\ncould quickly trigger economic pressures, from energy rationing to\nrising production costs.<\/p>\n
India was recently reported to have only nine days of energy\nreserves, but this figure actually refers only to strategic petroleum\nreserves.<\/p>\n
When combined with commercial stocks held by energy companies,\nIndia\u2019s total oil reserves are estimated to be sufficient for about 60\nto 70 days of consumption.<\/p>\n
What is more vulnerable is LPG supplies, as most shipments come from\nthe Middle East and pass through the Strait of Hormuz.<\/p>\n
Indonesia itself is relatively safe for now. National fuel\nreserves<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/energy-crisis-looms-idx-and-rupiah-under-pressure-will-they-rally-or-collapse-1774569047", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }