US-Israel–Iran War Heats Up, IHSG Slumps 3.5 Percent in Early Trade to Level 7,660
JAKARTA, KOMPAS.com - The Jakarta Composite Stock Price Index (IHSG) slumped sharply in the early trade on Wednesday (4 March 2026). The index fell 279.034 points or 3.51% to 7,660.732 as of 10:16 WIB, an hour after the market opened.
According to data from the Indonesia Stock Exchange (BEI), the IHSG opened at 7,896.377 and briefly touched an intraday high of 7,897.812.
However, selling pressure drove the index lower, hitting the low of 7,639.894.
At the start of trading, 679 stocks fell, far more than the 63 stocks that rose, while 64 were stationary.
Trading activity was also fairly high with a volume of 22.449 billion shares and a turnover of Rp11.350 trillion, across 1,353,619 transactions.
The IHSG is expected to remain under pressure in trading today, after closing yesterday at 7,939, down 77.07 points or 0.96%.
Maximilianus Nico Demus, Associate Director of Research and Investment Pilarmas Investindo Sekuritas, projected a limited decline for the IHSG with support and resistance at 7,860-8,150.
The pressure on the IHSG remains due to the escalating conflict between Iran and Israel.
Nico noted that global sentiment has started to ease slightly, although geopolitical conflicts and trade tensions continue to cloud the markets.
He said that statements by United States President Donald Trump guaranteeing the security of shipping routes through the Strait of Hormuz were one of the market’s calming factors.
Trump said his administration, together with the US International Development Finance Corporation (IDFC), would provide political risk insurance with competitive premiums to ensure energy distribution and trade flows remain smooth.
Moreover, if necessary, the United States Navy is prepared to escort oil tankers passing through the Strait of Hormuz.
This step is intended to prevent disruptions to global energy supply caused by the conflict.
“Trump says that whatever happens, America will ensure that energy distribution can be freely provided to the world. This, of course, has given market participants and investors reassurance that inflation can be better controlled due to higher energy prices, especially oil and gas,” Nico said in his daily analysis.