Friderica Officially Becomes OJK Chair; IHSG Strengthens 0.53% to 7,428
Jakarta — Indonesia’s Composite Stock Index (IHSG) rose 0.53%, gaining 39.38 points to close at 7,428.77 during the first trading session on Thursday, 12 March 2026.
A total of 272 shares gained, 376 declined, and 164 remained unchanged. Trading value reached Rp 6.39 trillion across 14.66 billion shares in 921,130 transactions. Market capitalisation increased to Rp 13.388 trillion.
Most trading sectors strengthened, with the highest gains recorded in the technology, financial and energy sectors. The property, industrial and healthcare sectors experienced the steepest corrections. Large-cap stocks drove IHSG performance, with BBCA, DCII, BYAN, BMRI and TPIA among the key supporting shares.
Market participants faced several crucial macroeconomic indicators and fundamental sentiments, both domestically and internationally. Market focus was expected to centre on the stability of US inflation data, the resilience of Indonesia’s state budget in the face of geopolitical escalation, and the strategic transition in the leadership of the Financial Services Authority (OJK).
On Wednesday, Commission XI of the House of Representatives approved five candidates for the OJK’s Board of Commissioners following fit and proper tests. The full parliamentary plenary session on Thursday approved these five appointments to senior positions at the OJK.
The approved appointees are Friderica Widyasari Dewi as Chair, Hernawan Bekti Sasongko as Deputy Chair, Hasan Fawzi as Head of Capital Market Supervision, Adi Budiarso as Head of Innovation, Technology and Crypto, and Dicky Kartikoyono as Head of Education and Consumer Protection.
These multidimensional factors will serve as the primary catalysts driving capital markets, debt markets, currency exchange rates and strategic portfolio decisions.
The escalation of conflict between Iran and proxies of the US-Israel coalition in the Middle East has prompted Gulf nations to adopt defensive positions. Regional capitals stated they would not facilitate military operations targeting Iran and sought to prevent their sovereign territories from being drawn into open war.
Security analysts assessed that these nations are exercising extreme caution, as direct conflict escalation threatens their vital infrastructure, economy and social order.
Iran stated the world should prepare for oil prices of US$200 per barrel following its forces’ attacks on merchant vessels on Wednesday. Simultaneously, the International Energy Agency (IEA) recommended large-scale releases of strategic oil reserves to mitigate one of the worst oil price shocks since the 1970s.
From the Asia-Pacific region, Australia’s S&P/ASX 200 index fell 1.56%. Japan’s Nikkei 225 index dropped 1.6%, whilst Topix lost 1.34%. South Korea’s Kospi index declined 0.75%.
Hong Kong Hang Seng index futures contracts stood at 25,756, compared with the index’s last close of 25,898.76.
Overnight in the US, the Dow Jones Industrial Average declined as investors continued to monitor developments in the US-Iran conflict and oil prices. The 30-share index fell 289.24 points, or 0.61%, closing at 47,417.27. The S&P 500 index fell marginally 0.08% to 6,775.80, whilst the Nasdaq Composite rose marginally 0.08% to 22,716.13.
West Texas Intermediate (WTI) crude oil prices rose over 7% to US$93.80 per barrel on Wednesday. Brent crude oil rose nearly 8% to US$99.10 per barrel.