Indonesian Stock Exchange Index Closes Stronger Driven by Global Oil Price Correction
Jakarta — The Indonesian Stock Exchange’s Composite Index (IHSG) closed stronger on Tuesday afternoon, driven by corrections in global crude oil prices.
The IHSG rose 103.54 points or 1.41 per cent to 7,440.91. Meanwhile, the blue-chip LQ45 index gained 9.37 points or 1.25 per cent to 759.94.
“The IHSG rebounded from a sharp correction the previous day, driven by crude oil price corrections, strengthening of Wall Street and Asian stock indices, and technical rebound,” said Phintraco Securities Head of Research Rarna Lim in her analysis in Jakarta on Tuesday.
During Tuesday’s trading at 4:35 p.m. Jakarta time, WTI crude oil prices fell 7.83 per cent to 87.35 US dollars per barrel, whilst Brent crude dropped 7.99 per cent to 91.05 US dollars per barrel.
She noted that the weakness in global oil prices coincided with the potential end of the conflict between Iran and the United States, following US President Donald Trump’s statement that military operations against Iran were “very complete.”
Domestic economic data showed that domestic retail sales grew 5.7 per cent year-on-year in January 2026, up from 3.5 per cent in December 2025, and better than expectations of 4 per cent year-on-year. Retail sales are expected to accelerate further in February 2026 with the Lunar New Year, the beginning of Ramadan, and the approach of Eid al-Fitr celebrations.
From the United States, investors awaited February 2026 inflation data, expected to remain stable at 2.4 per cent year-on-year, whilst core CPI was expected to remain stable at 2.5 per cent year-on-year.
After opening stronger, the IHSG remained in positive territory throughout the first trading session. In the second session, the index stayed in the green through market close.
Based on the IDX-IC Sectoral Index, all eleven sectors gained strength, led by the raw materials sector which rose 4.85 per cent, followed by the industrial and non-primary consumer goods sectors, each rising 2.69 per cent and 2.68 per cent respectively.
Stocks with the largest gains included INPC, NETV, YELO, APLN and MBMA. Stocks with the largest declines were INDS, MKAP, ZATA, UDNG and KOKA.
Trading frequency reached 2,027,866 transactions with 36.27 billion shares traded worth Rp 19.16 trillion. A total of 534 stocks rose, 190 fell, and 93 remained unchanged.
Asian regional stock indices this afternoon included the Nikkei index, which rose 1,519.69 points or 2.88 per cent to 54,248.40; the Hang Seng index, which gained 551.43 points or 2.17 per cent to 25,959.90; the Shanghai index, which rose 26.54 points or 0.65 per cent to 4,123.14; and the Strait Times index, which gained 104.03 points or 2.19 per cent to 4,861.64.