China on Friday passed a law leaving its biggest trade partners in no doubt that it can hit back should they put tariffs on the exports of the world's No. 2 economy as Washington and Brussels take aim at Beijing over excess industrial capacity.

As a regulatory initiative developed by the European Union (EU) aiming to impose comprehensive testing requirements on various agricultural and forestry commodities, the EU Deforestation-Free Regulation (EUDR) is seen as a significant challenge that could harm Indonesian agricultural and forestry commodities, including palm oil, and undermine Indonesia's efforts and commitments in addressing issues related to climate change and biodiversity protection in line with multilateral agreements and conventions.

The snub came one day after BHP formally announced its colossal bid, which aims to create the world's biggest-listed copper producer and reshape the global mining sector.

The National Highway Traffic Safety Administration (NHTSA) said it was opening an investigation after the agency identified concerns due to crash events after vehicles had the recall software update installed "and results from preliminary NHTSA tests of remedied vehicles."

The Indonesian government through the Trade Ministry has affirmed that the integration of e-commerce platform Tokopedia with TikTok Shop into Shop Tokopedia is in line with Trade Ministry Regulation (Permendag) No. 31/2023.

The company founded by Mark Zuckerberg said that net profit in the January to March period rose to $12.4 billion with total revenue, mainly from selling ads, up an impressive 27 percent, at $36.5 billion.

The report by four NGOs alleges the ADB loan given in 2021 to Indonesia's state power company to fund its ten-year business plan and "promote the use of clean energy" has no clause blocking spending on new coal facilities.

The IDX Composite closed significantly lower on Friday's trading session, dropping 119.21 points or 1.67 percent to 7,036.07, marking the year’s new low.

The majority of sectors were down at the close of trade on Thursday.

Asian stocks fell on Thursday as disappointing earnings forecasts from Facebook parent Meta Platforms hammered tech shares, while the yen's slump past 155 per dollar for the first time since 1990 raised the specter of intervention from Tokyo.