Following US-Israeli strikes on Iran—detailed in prior coverage—that killed Supreme Leader Ayatollah Khamenei and escalated Middle East tensions with oil and gold surges, Indonesian businesses are implementing short-term risk mitigations amid rising costs, while Bank Indonesia monitors inflation risks.
Iran's retaliation and threats to close the Strait of Hormuz have driven Brent crude up 7.14% to $78.07 per barrel and gold 1.77% to $5,368.15 per troy ounce as of March 3, 2026, with Asian stocks declining.
Apindo Chair Shinta W. Kamdani described a 'wait and see but prepared' stance, with businesses adjusting costs, improving efficiency, managing forex exposure, and diversifying supplies. She urged government action on energy/food stability and an independent foreign policy.
Market observer Reydi Octa noted selective buying of energy/commodity stocks benefiting from higher oil prices, though the IHSG fell due to foreign outflows and a weakening rupiah.
Bank Indonesia Deputy Governor Aida S. Budiman highlighted inflation monitoring (February at 4.76% yoy), focusing on oil, gold, and food prices, while committing to exchange rate and inflation stability. Asia-Pacific markets dropped: Kospi -2%, Nikkei 225 -0.42%, S&P/ASX 200 -0.57%.
