Jakarta. Indonesia's benchmark stock index ended nearly unchanged on Tuesday as investors balanced escalating geopolitical tensions in the Middle East against renewed confidence in Indonesia's economic fundamentals after S&P Global Ratings reaffirmed the country's sovereign credit rating.

Jakarta Composite Index (JCI) edged up 1.6 points, or 0.03%, to close at 6,039 after spending most of the session in positive territory. The index traded within a range of 6,002 to 6,095.

Trading volume reached 32.4 billion shares with turnover totaling Rp 16.6 trillion ($919.31 million) across more than 2.8 million transactions. Gainers outnumbered losers, with 422 stocks advancing, 206 declining, and 165 unchanged.

Pilarmas Investindo Sekuritas said the market remained under pressure from growing global uncertainty as conflict in the Middle East intensified.

Investors continued to monitor US President Donald Trump's announcement reinstating a blockade on Iranian shipments through the Strait of Hormuz. Trump also imposed a 20% levy on all cargo transiting the strategic waterway, a move that sent oil prices higher and renewed concerns over inflation and slower global economic growth.

"Global markets remain overshadowed by rising geopolitical tensions in the Middle East, prompting investors to reduce exposure to riskier assets," Pilarmas wrote in its daily research note on Tuesday.

Despite the external headwinds, Pilarmas said domestic sentiment helped keep the JCI in positive territory after S&P Global Ratings reaffirmed Indonesia's BBB sovereign credit rating with a stable outlook.

According to the brokerage, the decision reflects international confidence in Indonesia's economic fundamentals, including the government's commitment to keeping the fiscal deficit below 3% of gross domestic product.

The stable outlook also signals confidence in the credibility of the government's fiscal and monetary policies to maintain macroeconomic stability despite elevated global uncertainty.

"Indonesia's maintained sovereign credit rating sends a positive signal that the national economy remains resilient and its growth prospects stay solid," Pilarmas said.

Oil prices extended gains on Tuesday as the Middle East conflict intensified. Brent crude rose more than 2.3% to $85.18 a barrel after surging nearly 10% on Monday, while US benchmark West Texas Intermediate gained 2.5% to $80.15 per barrel.

Asian markets were mixed. Japan's Nikkei 225 rose 0.7% to 67,743, while South Korea's Kospi climbed 0.7% to 6,856.

China's Shanghai Composite advanced 1.1% to 3,958 after official data showed exports jumped 27% year-on-year in June, driven by strong demand for semiconductors and other technology products amid accelerating artificial intelligence adoption. Investors are awaiting China's second-quarter economic data due on Wednesday.

Hong Kong's Hang Seng Index added 0.3% to 24,301.

Overnight on Wall Street, the S&P 500 fell 0.8% after posting gains in four of the previous five weeks. The Dow Jones Industrial Average slipped 0.3%, while the Nasdaq Composite dropped 1.6%.

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