Jakarta Stocks Fall 9.19%, Trading Halt Triggered Amid Global Tariff Concerns

The Jakarta Composite Index plunged 9.19% shortly after reopening on April 8, 2025, following a long public holiday, triggering a 30-minute trading halt due to investor reactions to escalating U.S. tariffs on Indonesian goods. This decline reflects broader market anxieties stemming from U.S. President Trump's tariff announcements, which have raised fears of a global recession. Analyst assessments noted that all sectoral indices were deeply in the red, with the basic materials and technology sectors experiencing the steepest declines. In response to the volatility, the Indonesia Stock Exchange adapted its circuit breaker rules, widening the thresholds for trading halts. While global markets, including those in Japan and Hong Kong, showed signs of recovery, the Jakarta market was significantly affected, highlighting the interconnected nature of international trade and finance. The Indonesian central bank indicated plans to intervene to support the rupiah amid these developments.