The Hormuz Strait Closes! 8 Energy Stocks That Are Safe Havens During IHSG Turbulence

The Jakarta Composite Index (IHSG) came under heavy pressure on Wednesday, 4 March 2026. According to data from the Indonesia Stock Exchange (BEI), the index briefly fell as much as 4.32% to 7,596.57. This weakness was driven by two intertwined variables: a rally in world oil prices following the Hormuz Strait closure and the depreciation of the rupiah, which was approaching Rp17,000 per US dollar. Stock market analyst and founder of Republik Investor, Hendra Wardanal, explained that while the market was entering a risk-off phase, the energy sector was turning into an ‘oasis’ for investors. Brent crude was trading at around US$82.53 per barrel, providing a positive sentiment for commodity-based issuers. Technically, the IHSG was testing a major psychological support zone around 7,500-7,600. If tensions in the Middle East ease and the rupiah stabilises, the IHSG could rebound gradually to around 7,900-8,100 by the end of March. However, if the conflict escalates, the risk of testing the 7,400 area remains open. According to him, this period represented a consolidation phase with high volatility. Focus on portfolio quality is more important than chasing short-term momentum. The commodity sector tends to be more defensive when energy inflation rises. Here are several issuers that are considered worthy to be on your watchlist according to Hendra: … Conversely, Hendram added that investors should be cautious about sectors sensitive to energy costs and weakening purchasing power, among others. In this uncertain environment, the key to success is discipline in risk management. Adopt a gradual investing approach (dollar-cost averaging) and focus on issuers with strong fundamentals and healthy cash flow. Do not panic, but stay vigilant on dynamic global geopolitical developments.