IHSG Surges 2% in First Five Minutes of Trading
Jakarta — The Indonesian Composite Index (IHSG) continued its upward momentum. In the first five minutes of trading, the IHSG rose 146.53 points or 2% to reach the level of 7,483.90.
Previously, the IHSG also opened strongly, rising 1.69%.
As of 09:05 WIB, 479 stocks rose, 108 fell, and 371 remained unchanged. Transaction value reached Rp 1.68 trillion, involving 2.77 billion shares across 144,600 transactions. Market capitalisation increased to Rp 13.413 trillion.
Previously, the Indonesian Composite Index (IHSG) fell during yesterday’s trading on Monday (9 March 2026). The IHSG briefly touched a low of minus 5.2% at the level of 7,156, but trimmed losses to minus 3.27% or a fall of 248 points to the level of 7,337.37.
Analyst Lukman Leong from Doo Financial Futures stated that weakness in Indonesia’s capital market was still influenced by global geopolitical sentiment due to major disruptions to oil production and supply from the Strait of Hormuz.
A similar view was expressed by Head of Research Retail at MNC Securities, Herditya Wicaksana. He stated that the IHSG correction was in line with movements in global and regional Asian exchanges that experienced declines.
“We estimate that with the escalation of the conflict in the Middle East and the impact of the closure of the Strait of Hormuz, this remains a sentiment driver,” he said.
Meanwhile, oil prices fell during Monday’s (9 March 2026) trading after President Donald Trump said 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, a rise of 4.3%, whilst Brent crude oil was at US$98.96, surging 6.8%.
Despite the surge, closing prices were far lower compared to intraday levels where WTI briefly touched US$119 per barrel.
Trump told CBS News through a phone conversation that ships had already begun moving through the Strait of Hormuz. The US President also stated that he was considering taking control of it. He also indicated that the war would likely end soon.
Additionally, Trump is also considering reducing oil sanctions against Russia to help lower crude oil prices.
According to Matt Smith, oil analyst at energy consulting firm Kpler, currently only a handful of commercial vessels are still moving through the Strait of Hormuz.
Meanwhile, the global Brent benchmark previously surged 6.76% and closed at US$98.96 per barrel, after briefly reaching US$119.50 in the same trading session. This is the first time oil prices have breached the US$100 per barrel level since Russia invaded Ukraine in 2022.