IHSG Today 12 March 2026: Predicted to Continue Weakening
The Composite Stock Index (IHSG) on Indonesia’s Stock Exchange is projected to face pressure during Thursday’s trading amid increased volatility in crude oil prices on global markets. At market opening, the IHSG was positioned at 7,365.28, weakening by 24.12 points (0.33%). Although it briefly reached a daily high of 7,425.12, selling pressure brought the index to a daily low of 7,348.72.
Liza Camelia Suryanata, Head of Research at Kiwoom Securities Indonesia, believes IHSG movements are likely to remain limited ahead of the extended Ramadan break next week. “Kiwoom Research sees the IHSG struggling to rise significantly ahead of the Eid al-Fitr holiday next week, so the best current projection is sideways movement whilst maintaining critical support levels at 7,335-7,120 to prevent further downside,” she said.
From global factors, crude oil prices have risen again despite the International Energy Agency (IEA) releasing the largest emergency oil reserves in history, approximately 400 million barrels. This measure is significantly larger than the oil reserve release during the 2022 energy crisis, which reached 182 million barrels.
Based on trading data until 09:35 WIB, West Texas Intermediate (WTI) crude oil rose 7.95 per cent to 94.19 US dollars per barrel, whilst Brent crude increased 8.01 per cent to 99.35 US dollars per barrel.
The rise in oil prices has been triggered by increased geopolitical tensions following attacks on vessels in the Strait of Hormuz, which threaten global energy distribution routes. Iran has even warned that oil prices could surge to 200 US dollars per barrel if conflict in the region escalates further.
From the United States, February’s Consumer Price Index (CPI) data showed a monthly increase of 0.3 per cent and an annual increase of 2.4 per cent. However, these figures do not fully reflect the latest energy price surge, so markets are beginning to anticipate the possibility of tighter monetary policy.
Domestically, the February 2026 state budget deficit was recorded at Rp135.7 trillion, or approximately 0.53 per cent of GDP. Nevertheless, this situation is considered consistent with the budget design as the government has accelerated spending throughout the year, whilst state revenue remains positive and budget financing has fallen approximately 33 per cent compared to the previous year.
Meanwhile, the Parliamentary Commission XI has selected Friderica Widyasari Dewi as Chairwoman of the Financial Services Authority (OJK) for the 2026-2031 period. Additionally, four other names have been appointed as members of the OJK Board of Commissioners: Hermawan Bekti Sasongko, Hasan Fawzi, Dicky Kartikoyono, and Adi Busiarso. These decisions will subsequently be ratified through a plenary session of Parliament on 12 March 2026.