Video: The Fate of the IHSG and the Rupiah Amid the Iran War – Hormuz Strait Closed

Jakarta, CNBC Indonesia - Assessments by MSCI, Moody’s and Fitch Ratings lowering Indonesia’s debt outlook to Negative have become a sentiment weighing on Indonesia’s financial markets amid the volatility of the Iran–United States conflict.

Panin Asset Management director Rudiyanto said the pressure in the stock market is not limited to the IHSG but also affects global bourses, where rumours surrounding the war, and the closure of the Hormuz Strait, remain a drag on sentiment.

Meanwhile in the bond market, sentiment around more aggressive management of the APBN has also drawn attention. Investors worry that rising oil prices will burden the APBN from the energy subsidy side, even as higher commodity prices would benefit the palm oil and coal, as well as nickel sectors.

The government needs to monitor global oil price movements; with oil around US$80 per barrel it is a ‘yellow warning light’, but if it rises to US$90-100 per barrel it would put further pressure on the APBN.

What impact will the war have on the IHSG, Rupiah & SBN and the Indonesian economy? For more, watch the dialogue between Syarifah Rahma and Rudiyanto, Director of Panin Asset Management, on Squawk Box CNBC Indonesia (Friday, 6 March 2026).