Indonesia’s financial markets on March 10, 2026 saw a rebound in equities, a modest strengthening of the rupiah, and commodity-linked adjustments. The Jakarta Composite Index rose after steep losses, the rupiah closed firmer at Rp16,862/USD, and palm oil prices corrected after recent rallies.
1. Jakarta Composite Index Rebounds 0.71% to 7,389.52
- The JCI closed at 7,389.52, up 52 points (+0.71%), recovering from the sharp decline earlier in the week. The rebound was supported by easing geopolitical tensions and improved global sentiment.
- Market breadth was positive, with most sectors posting gains. However, analysts cautioned that volatility remains high, with investors closely watching China’s trade data and oil price movements.
2. Rupiah Strengthens to Rp16,862/USD
- The rupiah closed at Rp16,862 per USD, gaining 87 points from the previous day’s close of Rp16,925. The improvement was driven by easing Middle East tensions and a softer U.S. dollar index.
- Despite the rebound, risks remain from shrinking foreign exchange reserves and elevated inflation at 4.76% in February, above Bank Indonesia’s target. Analysts expect BI to continue interventions to keep the currency below the Rp17,000/USD threshold.
3. Palm Oil Prices Ease 2% After Rally
- Crude palm oil (CPO) futures fell by around 2%, reversing part of the sharp gains seen earlier in the week. The decline was attributed to profit-taking after oil-driven rallies.
- Plantation-linked stocks showed mixed performance, with some easing alongside commodity prices. The move underscores Indonesia’s dual exposure: oil price volatility pressures macro stability but also drives swings in agribusiness-linked equities.