IHSG Opens with 1.69% Gain
Jakarta — Indonesia’s composite stock index (IHSG) opened 1.69% higher, gaining 123.6 points to 7,460 this morning, Tuesday 10 March 2026.
A total of 338 shares rose, 71 fell, and 549 remained unchanged. Transaction value reached Rp 393 billion, involving 548.5 million shares across 33,770 transactions. Market capitalisation rose to Rp 13.349 trillion.
Previously, the IHSG fell sharply in trading yesterday, Monday 9 March 2026. The index briefly touched a low of minus 5.2% at 7,156 before paring losses to minus 3.27%, falling 248 points to 7,337.37.
Analyst Lukman Leong of Doo Financial Futures stated that weakness in the domestic capital market remains influenced by global geopolitical sentiment resulting from significant disruptions to oil production and supplies from the Strait of Hormuz.
Similar comments were made by Herditya Wicaksana, Head of Research Retail at MNC Sekuritas. He said the IHSG’s correction is in line with movements in global and regional Asian exchanges that have experienced declines.
“We anticipate that the escalation of conflict in the Middle East and the impact of the Strait of Hormuz closure will continue to drive market sentiment,” he said.
Meanwhile, oil prices fell in Monday’s trading after US President Donald Trump stated he was considering taking control of the Strait of Hormuz, the world’s most critical narrow passage for crude oil trade.
US crude oil (WTI) closed at US$94.77 per barrel, up 4.3%, whilst Brent oil closed at US$98.96, surging 6.8%.
Despite the surge, closing prices were far lower than intraday levels, where WTI briefly touched US$119 per barrel.
Trump told CBS News in a telephone conversation that ships had already begun moving through the Strait of Hormuz again. The US President also stated he was considering taking control of it. He also indicated that the war would likely end soon.
Additionally, Trump is considering reducing oil sanctions on Russia to help lower crude oil prices.
According to Matt Smith, oil analyst at energy consultancy Kpler, only a handful of commercial vessels are currently moving through the Strait of Hormuz.
Meanwhile, the global Brent benchmark previously surged 6.76% and closed at US$98.96 per barrel, after reaching US$119.50 during the same trading session. This marked the first time oil prices have breached US$100 per barrel since Russia invaded Ukraine in 2022.