17 May 2026 (closed)
Jakarta Composite Index (6,723.40) -135.32 -1.98%
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Latest Reports Iran
On Monday (04 May 2026), Indonesia Investments released the April 2026 edition of its monthly report. In this report we discuss key economic, political and social developments that occurred in Indonesia in April 2026.
While the Iran War (specifically the closure of the Strait of Hormuz) is seriously undermining the fiscal health of Indonesia through high global oil prices, there are also other problems being 'imported' into Indonesia as a consequence of this war. For example, the scarcity of raw materials is making plastic packaging expensive and difficult to find.
While the Philippines declared an energy crisis two weeks ago, it seems that matters in Indonesia remain under control. So far, there haven't been long queues at gas stations (to hoard fuels), while government officials repeatedly ensure that there is enough fuel available for society, although people are encouraged to cut back on fuel consumption (for example, by working-from-home once a week).
On Sunday (5 April 2026) Indonesia Investments released the March 2026 edition of its monthly report. In this report the central theme is how the Iran War impacts Indonesia's economy. An escalation in the Middle East (and specifically the high oil price) implies some major challenges for Indonesia.
During his state visit to India, Indonesian President Joko Widodo signed three memoranda of understanding. Widodo is on a three-day visit to India (12-13 December) and Iran (14 December) to meet political and corporate leaders and to enhance business and trade relations with the two countries. Indonesia's seventh president is accompanied by Darmin Nasution (Coordinating Minister for Economic Affairs), Pratikno (State Secretary), and Thomas Lembong (Chairman of the Investment Coordinating Board, or BKPM).
The government of Indonesia plans to offer the Bontang fuel refinery project to Iran. This refinery, which is targeted to have a processing capacity of 300,000 barrels of oil per day, will be located in Bontang (East Kalimantan). I Gusti Nyoman Wiratmaja, Director General of Oil & Gas at Indonesia's Energy and Mineral Resources Ministry, considers it a positive step to offer the Bontang refinery project to Iran as this nation has showed an interest to develop refineries abroad in a bid to boost its crude exports after international sanctions were lifted in January 2016.
The spotlight is - as usual - on China today as the world's second-largest economy released various macroeconomic data and markets' reaction toward these data will determine where stocks are heading for today. Wall Street will not influence Asian markets because this US financial and investment community was closed for Martin Luther King Jr Day on Monday. Meanwhile, the crude oil price remains low around USD $29 per barrel.
Although most stock markets in Asia were still in red territory, extending Monday's plunge, Indonesian stocks and the rupiah managed to rebound on Tuesday (05/01). Indonesia's benchmark Jakarta Composite Index rose 0.70 percent to 4,557.82 points. Meanwhile, the Indonesian rupiah appreciated 0.37 percent to IDR 13,892 per US dollar (Bloomberg Dollar Index). What happened on today's trading day and what explains the deviation between Indonesian assets and the general Asian trend?
Contrary to expectations, Indonesian stocks and the rupiah had a weak start of the new year. On Monday (04/01) Indonesia's benchmark Jakarta Composite Index fell 1.46 percent to 4,525.92 points, while the Indonesian rupiah depreciated 0.82 percent to IDR 13,943 per US dollar (Bloomberg Dollar Index). The performance of Indonesian stocks is in line with the performance of stocks around the globe. In China stock trading was even halted twice due to its plunging index. What happened today?
Latest Columns Iran
Plastic, a synthetic material typically used for packaging and bottles, is derived from hydrocarbons that are found in fossil fuels, specifically natural gas and crude oil. The raw, virgin materials that serve as the base for all plastic products are called resins (a high-viscosity substance that can be converted into polymers).
While Indonesia was enjoying the Idul Fitri celebrations (marking the end of the holy fasting month), global financial markets experienced a massive shock. The panic was fueled by concern over a severe escalation of the Iran War after US President Donald Trump set a 48-hour deadline that would expire on 23 March 2026.
The key story in March 2026 is obviously the Iran War that broke out after a United States (US)-Israeli coalition attacked various strategic assets in Iran starting on 28 February 2026, thus causing another (possibly long-term) geopolitical conflict after the Russo-Ukrainian War (2022-present) and Israel-Hamas War (2023-present).
The Jakarta Composite Index (Indonesia's benchmark stock index, abbreviated IHSG) made a positive start on Monday (25/11). Investors were confident amid today's rising indices throughout Asia, brought on by the record breaking Dow Jones Index on Wall Street at the end of last week. However, this market optimism failed to provide a significant boost to the IHSG as the Indonesian rupiah exchange rate continued its downward spiral. The IHSG was up 0.39 percent to 4,334.80 points at the end of Monday's trading day.
