Indonesian Political, Business & Finance News

Archive: 10 March 2026

Showing 1,801-1,850 of 2,049 articles

Kodam V Brawijaya Tightens Surveillance Following Commander's Alert Status 1 Instruction

Kodam V/Brawijaya has affirmed its readiness to implement Alert Status 1 across all Indonesian regions following an instruction from TNI Commander General Agus Subiyanto, issued on 1 March 2026, as a precautionary measure against potential security escalation triggered by Middle Eastern conflicts. The Deputy Commander of Kodam V/Brawijaya stated that the regional command will maintain strict coordination and intensive monitoring of territorial conditions, whilst remaining aligned with the TNI General Headquarters' policy directives.

Nadiem Hopes Family Will Visit Him in Detention Centre During Eid This Year

Former Education, Culture and Technology Minister Nadiem Anwar Makarim is spending his first Eid in detention whilst facing corruption charges related to a Chromebook laptop procurement project allegedly causing state losses of Rp 2.1 trillion. Nadiem expressed sadness about being separated from his family during the Islamic holy month, though he has managed to fast whilst undergoing medical treatment in the detention centre.

Minister Bahlil Seeks to Accelerate Bioethanol Blending in Fuel; Bobibos Under Consideration

Energy Minister Bahlil Lahadalia plans to accelerate the implementation of mandatory bioethanol blending in petrol, targeting E20 (20 percent ethanol content) before 2028 and expediting B50 (50 percent biodiesel) adoption in response to soaring global oil prices exceeding 118 US dollars per barrel. BOBIBOS, a biofuel made from rice straw, seeks government approval and protection to become an alternative fuel source, with its proponent emphasising the need for regulation, investment, and protection to unlock the fuel's potential in reducing import dependence whilst benefiting farmers.

Adkasi urges strengthening of regional legislatures' position to maximise natural resource management

The head of the Association of Regency and City Regional Representative Councils (Adkasi), Siswanto, has called for strengthening the position of regional legislatures (DPRD) to better manage natural resources at the local level. He argues that post-2014 legislation has severely restricted regional governments' authority over natural resource management, reducing their revenue sources and forcing them to seek permits from provincial and central governments even for minor resource extraction. Siswanto hopes that the central government will hear regional legislatures' concerns and restore appropriate authority for local natural resource management.

Traffic Police Chief Urges Officers to Serve Homebound Travellers with Sincerity and Compassion

The Head of Indonesia's Traffic Police Corps has reminded officers to serve the public with sincerity and compassion during the 2026 Lebaran exodus period. The police are preparing for Operation Ketupat, which will secure traffic and ensure safe travel and religious activities during the festive season.

Stock Shortage Pushes Bontok Chilli Prices to Rp 100,000 per Kilogram in Gianyar

Prices of Bontok chilli, a specialty Balinese variety, have surged to Rp 100,000 per kilogram at Gianyar People's Market due to severe stock shortages and failed harvests caused by flooding. The price spike, which began in early February 2026, has significantly reduced merchant sales volumes and been accompanied by increases in other staple goods including cooking oil, sugar, and cabbage. Local government officials characterise the price rises as market-driven mechanisms and claim no maximum retail price (HET) violations have occurred, whilst promoting low-cost market initiatives to stabilise prices.

Billionaires Clash Over Space Spectrum as Elon Musk Accused of Speculative Plans

Amazon has filed a complaint with the US Federal Communications Commission requesting rejection of SpaceX's proposal to deploy 1 million satellites in low Earth orbit, arguing the timeline is unrealistic and the move is a strategic land-grab in limited orbital space. SpaceX would require approximately 220 years to launch all satellites at current global capacity, whilst maintaining such a constellation would necessitate launching 200,000 satellites annually—44 times the 2025 global production rate.

Two Demonstrations Scheduled in Jakarta Today; Traffic Congestion Expected in Gambir and Senayan

Two demonstrations are planned in Central Jakarta on 10 March 2026, with the first taking place on Medan Merdeka Barat Street in Gambir, organised by the DAMRI Workers' Union and other groups. The Central Jakarta Metro Police have deployed 473 personnel to provide security and will implement situational traffic management, whilst urging residents to use alternative routes to avoid congestion.

Prabowo Inaugurates 218 Bridges: Government Will Not Leave Citizens in Difficulty

President Prabowo Subianto inaugurated 218 bridges across Indonesia in a virtual ceremony, reaffirming the government's commitment to developing infrastructure in underserved regions. The bridges were completed in 2.5 months with the involvement of the Indonesian military and regional officials, with Prabowo emphasising that the government prioritises helping remote and marginalised communities, particularly benefitting students who no longer face dangerous river crossings to reach school.

Japan and South Korea markets surge following oil price decline

Stock markets in Japan and South Korea rallied sharply on Tuesday after oil prices fell from their highest levels since 2022, with the Nikkei 225 rising over 3 per cent and South Korea's Kospi rebounding more than 5 per cent. The recovery was driven by President Trump's comments suggesting the conflict is winding down and announcements of potential sanctions relief on certain countries to stabilise global oil supplies, though geopolitical tensions remain a source of ongoing volatility.

Prabowo Convenes Nine Ministers Meeting at Hambalang

President Prabowo Subianto held a strategic cabinet meeting with nine ministers at his private residence in Hambalang, Bogor, on 9 March 2026. The discussion focused on evaluating the government's self-sufficiency programmes for food and energy, as well as preparations for Eid al-Fitr, particularly ensuring food supply and liquefied petroleum gas availability.

Latest Study Reveals Earth's Temperature Rising Faster Than Predicted

A new study from the Potsdam Institute for Climate Impact Research reveals that global warming has accelerated significantly since 2015, with temperatures rising at approximately 0.35 degrees Celsius per decade over the past ten years—nearly twice the rate of the 1970–2015 period. Researchers filtered out natural variability factors to isolate the human-driven warming trend, which is now statistically the most pronounced since modern temperature records began in 1880.

Bantargebang Deemed High-Risk Without Modern Waste Management System

A Jakarta provincial legislature member from the PDI Perjuangan faction has called for urgent modernisation of waste management systems at the Bantargebang integrated waste disposal site (TPST) in Bekasi following a landslide that killed five people and left several others missing. The legislator emphasised that without serious restructuring and modern waste management protocols, risks of further disasters—including landslides, fires, environmental contamination, and worker safety threats—will persist and called for comprehensive evaluation of security systems, stockpile management, and worker safety standards.

Iran-Israel-US Conflict Could Pressurize Indonesian Automotive Exports

Geopolitical tensions in the Middle East threaten to disrupt Indonesia's automotive export performance through maritime route disruptions and increased shipping costs. An automotive expert warns that prolonged conflict could force Indonesia to lose direct access to approximately 5.4 per cent of its export market share, particularly to Saudi Arabia and the UAE, whilst other major markets may face rising distribution and insurance costs that ultimately increase vehicle prices and reduce competitiveness.

Final Victim of Bantargebang Landfill Landslide Discovered, Search Operation Concluded

The final victim of a landfill collapse at TPST Bantargebang in Bekasi has been found, bringing the death toll to seven with six survivors out of 13 total victims. The combined search and rescue operation has been officially concluded following the recovery of all missing persons with no further reports of missing individuals.

Global Reaction as Mojtaba Khamenei Officially Becomes Iran's New Supreme Leader

Mojtaba Khamenei has been officially elected as Iran's new Supreme Leader by the Leadership Experts Assembly with over 85% support, an appointment that has drawn contrasting international responses. Western leaders including US President Trump and Israel condemned the appointment, whilst Russia, China, Iraq, Oman, Hezbollah, and Yemen's Houthis offered support or congratulations. The succession occurs amid escalating regional tensions following a US-Israeli military campaign against Iran that began in late February.

Popular: Electric motorcycle incentives to Pertalite price freeze

Indonesia's Energy Minister Bahlil Lahadalia announced a new incentive programme for converting petrol motorcycles to electric vehicles whilst guaranteeing that Pertalite fuel prices will remain frozen despite crude oil reaching $118 per barrel. The government also confirmed that free nutritious meal programmes for vulnerable groups including infants and pregnant women will continue during the Lebaran holiday period in March 2026.

Vietnam proposes zero percent import tariff on petroleum products

Vietnam has proposed zero percent import tariffs on select petroleum products to help businesses secure supply proactively and stabilise the market, according to a draft decree submitted for review. The proposal comes amid heightened geopolitical tensions involving the United States, Israel, and Iran affecting global energy markets, with Vietnam's Finance Ministry estimating potential budget revenue losses exceeding one trillion Vietnamese dong if implemented based on 2025 import volumes.

KPK Rejects Former Religious Affairs Minister Yaqut's Claims on Hajj Quota Distribution

The Corruption Eradication Commission (KPK) has refuted claims by former Religious Affairs Minister Yaqut Cholil Qoumas regarding the distribution of 20,000 additional hajj quotas for the 2023-2024 period, asserting that the allocation should have favoured regular hajj pilgrims (92 per cent) over special hajj (8 per cent) as stipulated by law. The KPK maintains that Saudi Arabia provided the additional quotas to the Indonesian government directly and with accompanying facilities, challenging Yaqut's proportional distribution of 10,000 each, and emphasizing that discretionary policy decisions must serve broader public interests rather than individual benefits.

Yesterday: Motor Conversion Incentives and Subsidised Fuel Price Policy

Indonesia's government announced multiple economic policy initiatives on Monday (9 March 2026), including incentives for converting petrol motorcycles to electric vehicles and plans to accelerate bioethanol blending mandates as global oil prices spike above $118 per barrel. Finance Minister Purbaya Yudhi Sadewa reassured the public that the national economy remains in expansion despite weakening stock markets and currency, whilst clarifying that there are currently no plans to increase subsidised fuel prices.

Health Minister Forms Mental Health Communities to Address Doctor Shortage

Indonesia's Health Minister Budi Gunadi Sadikin plans to establish mental health communities to bridge the shortage of psychiatrists and counselling services. The minister, inspired by international models of support groups, has requested his team to gather existing mental health communities to discuss their needs and required support. Recent government health screening data reveals that approximately 4.8 per cent of children surveyed show symptoms of depression, whilst 4.4 per cent exhibit anxiety symptoms, underscoring the urgent need for expanded mental health services.

Indonesian Business Community Alarmed by US-Israel-Iran Conflict, Consequences Are Serious

Indonesia's business community is increasingly concerned about the escalating US-Israel-Iran conflict, citing risks to energy costs, logistics expenses, and food prices through global supply chain disruptions. The main threats include volatility in oil and gas prices, potential disruptions to the Strait of Hormuz (through which 20% of global oil passes), and currency weakness, which could inflate production costs and fiscal pressures for import-dependent Indonesia. Business leaders are implementing mitigation strategies including cost restructuring, operational efficiency improvements, and supply chain diversification, while calling on government to maintain energy and food price stability and fiscal discipline.

Narrow Trading Range: Analysts Predict Jakarta Composite Index to Return to 6,000s Level

The Jakarta Composite Index (IHSG) plummeted significantly on 9 March 2026, touching a low of -5.2% at 7,156 amid heightened geopolitical tensions and disruptions to oil supply from the Strait of Hormuz. Market analysts predict the index could fall further below 7,000 or revert to the 6,000s level if the Middle East conflict escalates, with crude oil prices surging above USD 100 per barrel and the rupiah weakening to Rp 17,009 against the US dollar. With narrow trading ranges expected in the near term and limited positive sentiment, analysts suggest the IHSG may consolidate before any meaningful recovery materialises.

Death Toll from Bantargebang Waste Landslide Rises to Seven, Six Rescued

A waste landslide at the Bantargebang Integrated Waste Treatment Facility in Bekasi, West Java, has claimed seven lives with six survivors recovered. The incident occurred on 8 March 2026 when a garbage heap suddenly collapsed, burying food stalls and several waste trucks. Search and rescue operations concluded Monday evening after identifying all victims.

Bank Indonesia Converts Damaged Banknote Waste into Electricity Fuel

Bank Indonesia's Bengkulu office has partnered with a state power company to convert damaged banknote waste into electricity, with 9 tonnes already generating 9,000 kilowatt-hours. The initiative is environmentally friendly whilst helping meet electricity demand, and the office has reminded the public to use official exchange services for damaged currency rather than unfavourable unofficial alternatives.

Parliament Deems Commander's Directive on Iran-US War Irrelevant

Indonesia's Parliament Commission I has criticised the TNI Commander's telegram ordering military alert level one in response to escalating Iran-US-Israel conflict, arguing it is premature and misaligned with modern warfare tactics that favour air strikes over ground operations. Whilst one legislator questioned the deployment of troops at vital infrastructure, another defended it as necessary to assure the public of state preparedness during global geopolitical tensions.

Gus Ipul and NTB Governor Synchronise Social Data Updates and Sekolah Rakyat Programme

Indonesia's Social Affairs Minister Saifullah Yusuf met with the Governor of Nusa Tenggara Barat province to coordinate the updating of the National Single Socio-Economic Database (DTSEN) and the implementation of the Sekolah Rakyat (People's School) programme. The meeting addressed government efforts to improve social welfare targeting and expand education access for impoverished families through multiple data collection channels and provincial-level poverty alleviation initiatives.

Pidie Jaya Receives Rp 616.5 Billion in Fiscal Transfer Plus Heavy Equipment Support; PRR Task Force Head Tito Urges Local Government to Accelerate Regional Recovery

Indonesia's Interior Minister Tito Karnavian, heading the Post-Disaster Acceleration of Rehabilitation and Reconstruction (PRR) Task Force for Sumatra, has allocated additional heavy equipment and increased fiscal support to Pidie Jaya District in Aceh to expedite post-disaster recovery efforts. The local government's 2026 fiscal transfer (TKD) has been adjusted upwards to Rp 616.5 billion from Rp 584 billion, accompanied by heavy machinery including excavators and dump trucks to accelerate mud and debris clearance. Minister Tito has urged local authorities to mobilise community participation through paid labour schemes (cash for work) to achieve rapid and inclusive recovery that provides economic benefits to affected residents.

BNPB Deploys Weather Modification Operation to Reduce Heavy Rain in Jabodetabek

Indonesia's National Disaster Management Authority (BNPB) has launched a weather modification operation to mitigate heavy rainfall and flooding across the Jakarta metropolitan area following severe downpours that displaced 122 residents across 23 villages. The operation responds to two active tropical cyclone systems (93S and 95W) that are expected to increase rainfall across the region, with BNPB simultaneously distributing humanitarian aid including food packages, blankets, and mattresses to affected communities.

Jakarta Provincial Assembly Urges Comprehensive Evaluation of Bantargebang Integrated Waste Processing Site Following Landslide

A Jakarta Provincial Assembly member has called for urgent evaluation of waste management and safety systems at the Bantargebang Integrated Waste Processing Site (TPST) following a deadly landslide on 8 March 2026 that killed several truck drivers. The legislator has advocated for comprehensive modernisation of Jakarta's waste management infrastructure, including source reduction, waste-to-energy facilities, and stricter worker safety protocols, whilst highlighting systemic risks in current operations.

Bali Regional Police Chief Breaks Fast with Online Motorcycle Taxi Drivers and Orphaned Children

Bali Regional Police Chief Inspector General Daniel Adityajaya organised a joint breaking of the fast with online motorcycle taxi drivers and orphaned children, attended by police retirees and senior officials. The event served as a demonstration of social concern and community engagement by the police, reinforcing bonds between the Indonesian National Police and the public during the holy month of Ramadan, with additional outreach through distribution of pre-fast snacks to commuters.

Bupati Rejang Lebong Taken to Jakarta

The Regent of Rejang Lebong in Bengkulu Province, Muhammad Fikri Thobari, was arrested by the Corruption Eradication Commission (KPK) on Monday afternoon and transported to Jakarta on Tuesday morning for further investigation. The arrest, conducted alongside seven other individuals, is believed to be related to allegations of project fee kickbacks within the Rejang Lebong District Government. The KPK seized mobile phones and cash allegedly sourced from contractors in connection with the alleged project fee scheme.

Trump's Statement Calms Global Oil Price Volatility, Brent Falls to US$98 Level

Global crude oil prices have sharply corrected after touching a four-year high, driven by US President Donald Trump's remarks suggesting the US-Israel conflict with Iran could end imminently. Brent crude, which had spiked to US$119.50 per barrel, fell to US$98.96 as Trump signalled plans to secure global energy supply routes, particularly the strategically vital Strait of Hormuz through which approximately 20% of global oil consumption flows. G7 energy ministers are scheduled to meet to discuss potential joint release of emergency oil reserves to maintain global supply stability.

Prabowo: Indonesia is Secure on Food Security

President Prabowo Subianto has declared that Indonesia is in a secure position regarding food security amid global geopolitical tensions and economic uncertainty. Speaking at a ceremony inaugurating 218 bridges across Indonesia, he emphasised the need to strengthen national self-reliance and warned of the dangers posed by powerful nations in conflict. The government aims to reduce dependence on petroleum fuels and prioritise food security as the foundation for weathering global instability.

Rupiah Under Pressure – Oil Prices Surge, Here's the Latest on Indonesia's State Budget

Indonesia's 2026 State Budget (APBN) faces significant pressure as the rupiah weakens against the US dollar and global crude oil prices surge following the outbreak of conflict between Iran, the US, and Israel in the Middle East. The rupiah has traded near the psychological Rp17,000 per US dollar level whilst Brent crude has reached US$113.68 per barrel, both far exceeding the APBN's macroeconomic assumptions of Rp16,500 per dollar and US$70 per barrel. Whilst government officials maintain the fiscal deficit remains manageable given these movements are temporary, economists are urging the government to implement rapid fiscal adjustments including budget prioritisation and energy subsidy rationalisation.

President Prabowo's Warning on Bantargebang Waste Crisis Becomes Tragic Reality

A devastating landslide at the Bantargebang Integrated Waste Management Facility in Bekasi on 8 March 2026 killed six people with another missing, vindicating President Prabowo Subianto's earlier warnings about the critical capacity crisis at the landfill site that holds over 55 million tonnes of waste. The government is responding by accelerating construction of 34 waste-to-energy power plants across Jakarta, Bandung, Surabaya and Bali, expected to be completed within two years, to reduce the mounting waste crisis and environmental impact.

Global Oil Prices Breach $100 per Barrel, Wall Street Turbulent as Markets Brace for Stagflation

Crude oil prices surged past $100 per barrel for the first time since 2022, triggering volatility on global financial markets and sparking concerns about stagflation—a combination of economic stagnation and persistently high inflation. The spike, driven by supply disruptions from Middle Eastern producers and concerns over the Strait of Hormuz, prompted major US stock indices to decline, with the Dow Jones falling 0.7 per cent, whilst G7 energy ministers prepared to discuss releasing strategic petroleum reserves to stabilise markets.

Sokonindo's Response to Agrinas 4x4 Pickup Imports for Village Cooperative Operations

PT Sokonindo Automobile's CEO Alexander Barus has responded to reports of Agrinas's plan to import 4x4 pickups for village cooperatives, stating the company was not directly involved in the discussions but would be willing to participate if invited. Barus emphasised that DFSK (Sokonindo's partner) is prepared to offer competitive pricing and highlighted that a large-scale vehicle procurement programme could boost local automotive production, create jobs, and conserve foreign exchange.

Attorney General's Office Searches Ombudsman Commissioner Over Crude Oil Corruption Allegations

Indonesia's Attorney General's Office conducted searches at the office and residence of Ombudsman Commissioner Yeka Hendra Fatika, allegedly in connection with corruption allegations related to crude oil management. The investigation centres on suspicions that the commissioner obstructed prosecution of three corporations (Wilmar Group, Musim Mas Group, and Permata Hijau Group) that were acquitted in March 2025, by providing a controversial Ombudsman recommendation that helped them win a court case.

Drug Party in Bekasi Raided, Seven Arrested

Police in Metro Jaya arrested seven individuals, including five men and two women, following a raid on a residence in Jatikarya, Jatisampurna, Bekasi on 4 March 2026, where they were allegedly using narcotics. Six of those detained tested positive for drug use, whilst one suspect had been previously wanted in connection with the distribution of 2,000 ecstasy tablets. The operation was conducted after residents reported suspicions of drug abuse activity at the location.

Key Points from Prabowo's Statement on Iran-Israel-US Conflict

President Prabowo Subianto has outlined Indonesia's stance on the escalating Middle East conflict, emphasizing the nation's commitment to non-aligned foreign policy and independence from any bloc. Whilst acknowledging potential economic impacts such as rising fuel and food prices, Prabowo pledged to achieve energy and food self-sufficiency and plans to deliver a comprehensive national briefing soon.

Coal Prices Surge to US$143, Highest in Over a Year

Coal prices have surged to US$143.8 per tonne, marking the highest level in over a year as rising oil prices and Middle East tensions drive demand. European nations are temporarily reverting to coal-fired power generation due to energy security concerns, whilst global coal supply remains less constrained than during the 2022 energy crisis. Indonesia, as a major coal exporter, may review its export restrictions in light of elevated prices.

National Police Explains Viral Horse Simulator Equipment Costing 1 Billion Rupiah

The Indonesian National Police (Polri) headquarters has clarified details regarding a horse simulator that went viral on social media, explaining that the equipment costs 1 billion rupiah per unit and was procured using 2016 budget funds. The simulator, located at the Animal Police Directorate headquarters in Kelapa Dua, Depok, serves as basic training equipment for police officers assigned to mounted units, enabling them to learn horsemanship techniques from walking and galloping to jumping and speed training.

Police Apprehend Interpol Fugitive Jimmy Lie in Malaysia

Indonesian fugitive Jimmy Lie, wanted on bribery charges related to land certificate processing in Tangerang Regency, has been apprehended in Malaysia after nearly half a year on the run. Lie was placed on Interpol's red notice list in September 2025 and was arrested by Malaysian immigration authorities on 8 March 2026 following coordination between the Indonesian National Police's International Relations Division and Malaysian officials, before being extradited to Jakarta.

BNI Distributes Dividend of Rp 13 Trillion and Share Buyback of Rp 905 Billion

PT Bank Negara Indonesia (Persero) Tbk has approved a cash dividend distribution of Rp 13.03 trillion at its annual general meeting of shareholders for fiscal year 2025, representing 65% of consolidated net profit, whilst also approving share buybacks of up to Rp 905.48 billion. The bank will retain 35% of net profit (approximately Rp 7.01 trillion) to strengthen capital structure and support business expansion. The shareholder meeting also approved reclassification of state-owned BP BUMN shares and other corporate governance decisions.

Ministry of Forestry Targets Recovery of 80,000 Hectares of Elephant Corridor in Seblat

Indonesia's Ministry of Forestry has launched the Combined Red and White Operation in the Seblat landscape of Bengkulu Province to recover approximately 80,978 hectares of forest land serving as a critical corridor for Sumatran elephants. The operation, led by the Directorate General of Forest Law Enforcement (Ditjen Gakkumhut) in coordination with police, conservation agencies, and local authorities, targets large-scale forest encroachment operations whilst pursuing administrative sanctions, civil litigation, and criminal prosecution against major stakeholders including land owners, financiers, and equipment operators. A previous phase completed in late 2025 recovered 8,200 hectares, destroyed 24,100 illegal palm trees, dismantled 186 worker shelters, and resulted in three cases proceeding through courts.

Tiny Organisms Bring Millions of Deaths, Scientists Sound Doomsday Warning

Scientists are warning of the rapid spread of the Aspergillus fungus, which causes serious respiratory infections and poses a significant threat to global public health. Climate change and global warming are driving the fungus's expansion across Europe and Asia, with projections suggesting it could expand into 77% more territory by 2100, potentially affecting nine million people in Europe alone and threatening food security in Asia.

Illegal Spouse Kills Wife in Depok; Body Discovered Five Months Later

Police in Jakarta have arrested a man identified as ARH for the murder of his unregistered wife, DH, in Depok. The victim's remains, discovered five months after her death in October 2025, were found beneath clothing and carpets in her son's bedroom. ARH allegedly killed DH following a quarrel, and was apprehended in Bekasi on 8 March 2026.

BNI Brings 10 Supported SMEs to Dhawafest Pesona 2026

PT Bank Negara Indonesia (BNI) is showcasing 10 supported micro, small and medium enterprises (SMEs) at the Dhawa Festival (Dhawafest) Pesona 2026 exhibition in Jakarta to broaden market access and strengthen their competitiveness. The three-day event, held from 4-6 March 2026 at the Finance Ministry's Dhanapala Building, brings together approximately 240 participants from various government agencies, state-owned enterprises, and private institutions across Indonesia. BNI's participation underscores its commitment to empowering SMEs through financial services, digital transformation, and market networking opportunities as part of the national economic roadmap towards Golden Indonesia.

IHSG Plummets; Analysts Reveal Stocks Still Worth Chasing During Market Volatility

The Indonesian composite stock index (IHSG) fell 248.318 points or 3.27 per cent to 7,337.369 amid global uncertainties including Middle East conflicts and elevated oil prices, with market volatility expected to persist in the near term. Despite the downturn, market analysts recommend speculative buying opportunities in banking stocks such as Bank Negara Indonesia (BBNI), heavy equipment player United Tractors (UNTR), and consumer goods firm Unilever Indonesia (UNVR), citing strong fundamentals and adjusted valuations.