The dollar slid broadly on Thursday and the euro firmed after President Donald Trump announced more aggressive-than-expected tariffs against US trading partners, jolting the markets as investors sought safe havens such as the yen and Swiss franc.

Asian equities rose on Tuesday following Wall Street's overnight gains, while gold hit an all-time peak and Treasury yields fell as markets awaited details of US President Donald Trump's reciprocal tariffs.

Most emerging markets had a disappointing start to the week on worries that US tariffs could be more widespread, while signs that a long-awaited Russia-Ukraine ceasefire could be faltering added to the unease.

Manufacturing was boosted by workers' return to work after the traditional Spring Festival travel period in February.

Shell is scrambling to manage an unexpected surge in demand that has fueled a supply issue at its gas stations nationwide, especially during the mudik travel season, though according to BPH Migas this is primarily a distribution issue, as the company has sufficient stock at its depots.

The new levies, if kept for an extended period, could add thousands of dollars to the cost of an average US vehicle purchase and impede car production across North America.

Investors have been focused on the impending reciprocal tariffs promised by US President Donald Trump and its impact on the global economy as trade war fears grip markets. 

Financial markets made a mixed start on Monday with US stock futures rising but the dollar wavering ahead of a week driven by data, Chinese earnings and the threat of steep US tariff hikes on the horizon.

Stocks in Jakarta and other Asian markets fell on Friday in a downbeat end to the week as deepening geopolitical worries and fears over US tariffs and their impact on the global economy curbed investors’ appetite for risk, keeping safe-haven gold near record highs.

Asia shares were hobbled by weakness in Chinese markets on Thursday and struggled to build on Wall Street's rally, even as investor sentiment was lifted by the prospect that the Federal Reserve could still deliver two rate cuts this year.

Analysts warn the currency could remain under pressure throughout 2025 and suggest investors turn to “defensive” stocks.

Asian stocks were subdued on Wednesday and gold hovered near record highs. Indonesian shares swung between gains and losses in choppy trading a day after the stock market clocked its sharpest fall in nearly three years, with Bank Indonesia set to decide on interest rates later on Wednesday.

Experts view PTFI’s gold refinery as a major step for the national gold industry, but whether Indonesia can become a major player in the global market remains uncertain.

Analysts suggest a downturn of the Indonesia Stock Exchange (IDX) Composite index, which gained momentum with a sudden plunge on Tuesday prompting a brief suspension of trade, is driven by a general sense of uncertainty rather than by fundamental weakness.

The government has agreed to impose a levy on coconut exports and derivatives, but has yet to decide whether to impose an export moratorium as proposed by the industry.

The factory, designated as a national strategic project (PSN), would help boost biodiesel production in the country.

The euphoria that Donald Trump's election triggered for financial markets seems to be a thing of the past as investors now fret over the prospect of the president's trade wars sparking a US recession.

Asian stocks fell sharply on Tuesday as a market selloff extended on mounting worries that a wide-ranging trade war could dent US economic growth and lead to a recession, sending skittish investors to the safe-haven Japanese yen.

The Japanese government began a rare auction on Monday of its emergency rice stockpiles in a bid to help drive down the surging price of the national staple.

Global coffee traders and roasters say they have slashed their purchases to minimal levels, as the industry reels from a steep surge in prices that suppliers have yet to convince retail stores to accept.

China and Hong Kong shares rose on Wednesday after Beijing set an ambitious economic growth target and vowed more support for domestic consumption and the tech industry as a trade war with the United States heats up.

Earlier in the day, China also imposed import levies covering $21 billion worth of US agricultural and food products including soybeans, wheat, meat and cotton.

Short selling was previously set to be implemented in March or April this year with a target for short selling transactions to increase the market’s liquidity by 2 percent to 3 percent. 

The stakes are high for the monthly US jobs report in the coming week, as investors gauge whether a string of worrisome data is signaling significant concern about the economy.

World stocks are on track for their worst week since mid-December, slumping more than 2 percent.

In a reversal from a plan announced in December, the senior food minister has said the government will continue to import sugar as it looks to boosting domestic production, though the planned import ban would be imposed on rice, corn and salt.

Two state-owned enterprises (SOEs) will be its first and major players, namely state-owned pawnbroker PT Pegadaian, a subsidiary of state-owned lender Bank Rakyat Indonesia (BRI), and Bank Syariah Indonesia (BSI), the country’s largest sharia bank.

President Prabowo Subianto inaugurated Indonesia’s first-ever bullion bank in a ceremony on Wednesday at The Gade Tower in Central Jakarta.

President Donald Trump opened yet another front on Tuesday in his assault on global trade norms, ordering a probe into potential new tariffs on copper imports to rebuild US production of a metal critical to electric vehicles, military hardware, the power grid and many consumer goods.

Unless the subsidy program for electric motorcycles is renewed, the industry will see sales drop in 2025.