Indonesia Braces for the Reopening of the Stock Market on Tuesday
Markets in Indonesia were closed for the national Idul Fitri holiday (the festivities that mark the end of the Ramadan month) between 28 March and 7 April 2025, meaning they haven't digested the controversial tariffs that were announced by US President Donald Trump on 2 April 2025.
On 2 April 2025 Trump announced sweeping tariffs of at least 10 percent on most goods being shipped into the United States. However, most countries (those that have the upper hand in trade with the US) face much higher import tariffs (see the chart below).
These tariffs are due to come into effect on 9 April 2025 although Trump did leave some room for negotiations that could change the rates.
Stock markets across the globe showed deep red performances after the announcement. For example, Japan's Nikkei index plunged 7.83 percent and Hong Kong's Hang Seng Index fell 13.22 percent on Monday (7 April 2025) in a global market meltdown as there is high concern about a global trade war and a global economic recession.
The Jakarta Composite Index (Indonesia's benchmark stock index) is yet to absorb all global turmoil that happened since 28 March 2025. And so, it will most likely be a very tough day for Indonesian stocks on Tuesday (8 April 2025) when it reopens after the long holiday.
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