Jakarta. Jakarta Composite Index (JCI) opened sharply lower on Friday, sliding 111 points or 1.35% to 8,211, as investors reacted to fresh US trade measures and mounting fiscal concerns.

The benchmark moved within a range of 8,152–8,214 in early trade. Volume reached 4.94 billion shares with turnover of Rp 1.7 trillion ($101.32 million) across more than 249,000 transactions. Decliners dominated with 414 stocks falling, compared to 141 gainers and 149 unchanged.

From the global front, the United States imposed steep tariffs on solar cells and panels imported from India, Indonesia, and Laos, raising concerns over export pressures and escalating protectionism.

The US Commerce Department set tariffs at 125.87% for Indian products, 104.38% for Indonesian imports, and 80.67% for goods from Laos. In addition to general duties, company-specific tariffs were also imposed. Indonesia’s Blue Sky Solar faces a 143.3% tariff, while REC Solar Energy is subject to 85.99%.

Phintraco Sekuritas wrote in a Friday research note that the move was taken “on the grounds that the solar panel industries in the three countries are protected by subsidies.”

Meanwhile, the United States Trade Representative plans to launch a Section 301 investigation into Indonesia’s trade practices, focusing on industrial capacity and fisheries subsidies. The findings will be assessed against Indonesia’s commitments in addressing US concerns.

Geopolitical tensions between the US and Iran, potentially involving Russia and China, also fueled a risk-off sentiment across emerging markets. BRI Danareksa Sekuritas said the market is awaiting further developments in US–Iran negotiations, which could affect risk asset flows and commodity movements.

Domestically, the implementation of a 15% minimum free float requirement has sparked worries over potential special notations and even delisting risks for issuers that are unprepared, triggering selling pressure. S&P Global Ratings also warned that rising fiscal pressures, particularly higher debt servicing costs, could increase downside risks to Indonesia’s credit profile and potentially lead to negative rating action.

“Although S&P has not revised Indonesia’s stable outlook at BBB, the warning signals growing concerns over the country’s fiscal position,” Phintraco Sekuritas said.

Overnight on Wall Street, the S&P 500 slipped 0.5% amid volatile trading, while the Dow Jones Industrial Average edged up 17 points. The Nasdaq Composite fell 1.2%, dragged by Nvidia’s 5.5% drop, its worst since April, despite reporting stronger-than-expected quarterly earnings and revenue guidance.

“Our customers are racing to invest in AI compute, the factories powering the AI industrial revolution and their future growth,” Nvidia CEO Jensen Huang said.

Oil prices also swung sharply as the US and Iran held indirect talks over Tehran’s nuclear program. Strategists at Macquarie described the current round as “make or break,” amid heightened US military presence in the Middle East.

Across Asia, South Korea’s Kospi fell 1.77% at the open, Japan’s Nikkei slipped 0.25% to 58,606, and China’s Shanghai SSE declined 0.43%. Hong Kong’s Hang Seng, however, gained 0.25%.

Add as a preferred source on Google +