Jakarta, CNBC Indonesia – Indonesian financial markets closed higher on Tuesday, March 10, 2026, as the stock market rose while the rupiah and government bonds experienced slight declines.
Despite Tuesday’s rebound, Indonesian financial markets are expected to face continued significant pressure on Wednesday, March 11, 2026, following recent underperformance.
Further details regarding Wednesday’s market projections can be found on page 3 of this article.
The Jakarta Composite Index (IHSG) reversed course on Tuesday, March 10, 2026, recovering from a sharp decline the previous day.
The IHSG initially surged 2.2% and nearly reached the 7,500 level at the start of trading, but ultimately trimmed its gains to close up 1.41%, or 103 points, at 7,440.91 at the end of the second session.
A total of 534 shares rose, 190 declined, and 93 remained unchanged. Transaction value reached Rp 19.16 trillion, involving 336.26 billion shares in 2.03 million transactions. Market capitalization increased to Rp 13,338 trillion.
Nearly all sectors traded higher, with the largest gains recorded in the energy and raw materials sectors. Only the infrastructure and technology sectors posted declines on Tuesday.
Notable stocks driving the IHSG’s performance on Tuesday included DSSA, BRMS, BBCA, BMRI, and BYAN.
Previously, the Jakarta Composite Index (IHSG) plummeted on Monday, March 9, 2026. The IHSG briefly fell as much as 5.2% to a low of 7,156, before paring its losses to close down 3.27%, or 248 points, at 7,337.37.
Turning to the rupiah, the Indonesian currency closed higher against the U.S. Dollar on Tuesday, March 10, 2026, coinciding with a weakening of the dollar in global markets.
According to Refinitiv data, the rupiah strengthened 0.47%, or appreciated to Rp16,855 per U.S. Dollar.
This gain reversed the previous day’s decline, when the rupiah briefly touched Rp16,990 per U.S. Dollar before closing down 0.15% at Rp16,935 per U.S. Dollar on Monday, March 9, 2026.
Throughout Tuesday’s trading session, the rupiah showed strengthening from the open, opening up 0.62% at Rp16,830 per U.S. Dollar and trading in a range of Rp16,830 to Rp16,890.
Meanwhile, the U.S. Dollar Index (DXY) was down 0.67% at 98.515 as of 3:00 PM local time.
The rupiah’s strengthening on Tuesday was supported by a combination of external and domestic factors.
Externally, the weakening of the U.S. Dollar in global markets was a key driver. The U.S. Dollar Index, which measures the strength of the greenback against six major currencies, corrected on Tuesday after jumping the previous day due to market concerns about escalating conflict in the Middle East.
Pressure on the U.S. Dollar eased after U.S. President Donald Trump stated in an interview with foreign media that the war against Iran was “very finished.”
This statement somewhat alleviated investor concerns about a prolonged conflict that could disrupt global energy supplies and hinder global economic growth.
Previously, the conflict between the U.S. And Israel against Iran had shaken global financial markets and triggered a surge in oil prices, prompting investors to seek safe-haven assets, including the U.S. Dollar.
However, with some easing of market concerns, investors are now reducing their holdings of dollar-denominated assets, creating room for other currencies, including the rupiah, to strengthen.
Domestically, positive sentiment also came from retail sales data. Bank Indonesia (BI) reported that the Real Sales Index (IPR) grew 5.7% year-on-year in January 2026.
Regarding the domestic bond market, the yield on the 10-year government bond (SBN) currently stands at 6.692%, up from 6.741% the previous day. This increase in yield indicates investor selling, leading to falling prices and rising yields.
Foto: Presiden AS Donald Trump menyampaikan pidato di Pelabuhan Corpus Christi di Corpus Christi, Texas, AS, 27 Februari 2026. (REUTERS/Elizabeth Frantz)