Jakarta Composite Index slides amid escalating US‑Iran conflict

Indonesia's Jakarta Composite Index (JCI) opened modestly higher but quickly faced correction pressure as Asian markets fell following the ninth consecutive day of U.S. strikes against Iran and Iran’s retaliation. Crude oil prices rose, with Brent at $89.22 per barrel and WTI at $83.23, stoking inflation concerns.

The turmoil disrupted maritime traffic through the Strait of Hormuz, with only a few vessels passing and one ship reported on fire. Regional markets reacted unevenly: Japan’s market remained closed for a national holiday, China’s index rose 1.5%, Hong Kong’s Hang Seng gained 2.36%, while South Korea’s Kospi and Kosdaq fell 4.5% and 5.3% respectively, and Australia’s ASX 200 slipped marginally.

Technical analysis notes JCI’s support zone between 6,100‑6,200 and resistance around 6,300‑6,320, indicating vulnerability to further downside unless it can break above the upper range.