IHSG Opens Weaker Amid Correction Concerns as Asia-Pacific and Wall Street Plunge Over Oil Price Surge
Jakarta – Indonesia’s composite stock index (IHSG) opened weaker by 23 points or 0.32 per cent at 7,338 on Friday, 13 March 2026, amid mounting correction pressures.
Fanny Suherman, Head of Retail Research at BNI Securities, predicted the IHSG would likely extend its decline during Friday’s trading session, driven by weakness in Wall Street.
“The IHSG has potential to continue its correction today alongside Wall Street’s decline,” Suherman said in her daily research note on Friday.
She noted that Asia-Pacific stock exchanges fell on Thursday as investors were impacted by surging oil prices and heightened tensions in the Middle East. This occurred even after the United States and its allies announced an unprecedented emergency release of crude oil reserves to stabilise energy markets.
The International Energy Agency (IEA) plans to release 400 million barrels of oil following supply disruptions caused by the Iran conflict, marking the largest action in the organisation’s history. However, the IEA has not established a timeline for when these supplies will enter the market.
US Energy Secretary Chris Wright stated that the United States will release 172 million barrels from the Strategic Petroleum Reserve to help reduce energy costs. This announcement followed President Donald Trump’s earlier statement that he would utilise the Strategic Petroleum Reserve to suppress energy prices.
Australia’s S&P/ASX 200 index fell 1.31 per cent, Japan’s Nikkei 225 dropped 1.04 per cent, and the Topix lost 1.32 per cent. South Korea’s Kospi index declined 0.48 per cent and Hong Kong’s Hang Seng weakened 0.70 per cent.
“The IHSG’s support level is positioned at 7,250–7,330, whilst resistance is in the 7,400–7,500 range,” Suherman added.
Wall Street indices closed sharply lower on Thursday. Rising global oil prices driven by supply disruptions resulting from the Iran conflict have weighed heavily on market sentiment.
The Dow Jones Industrial Average fell 1.56 per cent, the S&P 500 declined 1.52 per cent, and the Nasdaq Composite weakened 1.78 per cent. This pressure intensified as oil prices surged amid escalating Middle East tensions.