War Escalates, IHSG Rises amid Stability

RRI.CO.ID, Jakarta - The conflict between Iran, the U.S., and Israel has escalated sharply in recent days. Clashes have spread to other countries in the Gulf region.

Financial markets are on edge due to the escalating conflict. Investors are cautious as uncertainties in the region continue.

Key domestic data from Indonesia, including inflation and trade surplus, has not yet boosted market confidence. Positive international data, like improving U.S. manufacturing, offer only modest uplift for Asian markets.

Most Asian stock markets are trading in the red. Indonesia’s stock index (IHSG) opened stronger at 8,059 points, but analysts warn that regional weaknesses may affect its performance.

The Indonesian Rupiah remains relatively stable at around 16,855 per U.S. Dollar on Tuesday, 3 March 2026. The U.S. Dollar has strengthened against several Asian currencies, increasing potential pressure on regional markets.

Global gold prices are steady above $5,300 per troy ounce, equivalent to about 2.9 million IDR per gram in Indonesia. Rising geopolitical tensions could propel gold prices higher.

The U.S. has advised its citizens to leave certain Middle Eastern countries. These warnings indicate further prolongation, keeping financial and commodity markets on alert as they seek new foothold.

Writer: Gunawan Benjamin (Economist, Islamic University of North Sumatra)