The inaugural event, to be held on May 12 at The Langham, Jakarta, is arranged to reflect Indonesia’s unique tourism realities while addressing the evolving demands of travelers, brands and capital. 

Stock markets in Tokyo and Seoul spiked by more than three percent at one point, while those in Hong Kong, Sydney, Shanghai, Singapore, Wellington and Taipei also rallied.

Markets were taken on a rollercoaster ride at the start of the week after Trump added five days to his Saturday ultimatum for Iran to reopen the Strait of Hormuz within 48 hours, citing productive talks with unidentified Iranian officials, which Tehran has denied.

The International Energy Agency is consulting with governments in Asia and Europe on the release of more stockpiled oil "if necessary" due to the Iran war, Executive Director Fatih Birol said on Monday.

Iran said on Sunday it would strike the energy and water systems of its Gulf neighbors if US President Donald Trump followed through with a threat to hit Iran's electricity grid in 48 hours.

The waiver will bring some 140 million barrels of oil to global markets and help relieve pressure on energy supply, United States Treasury Secretary Scott Bessent posted on X.

President Donald Trump said Friday that he was considering "winding down" military operations against Iran, as the United States temporarily eased sanctions on Iranian oil shipments to stem a global supply crisis.

Iran's huge Pars gas field was hit on Wednesday in the first reported strikes on Iranian energy infrastructure in the Gulf during the US-Israeli war, a major escalation that prompted Tehran to warn its neighbors to evacuate their energy installations.

Asia spot LNG prices have doubled to three-year highs in the second major supply shock in four years, as shipping through the Strait of Hormuz has all but stopped and No.2 global exporter Qatar has halted shipments. 

International Energy Agency chief Fatih Birol said Monday more strategic oil stocks could be released if necessary to limit the fallout of from the near complete blockage of supplies through the Strait of Hormuz owing to the war on Iran.

Oil prices hovered around US$100 a barrel Monday and stocks fluctuated as the Iran war moved into a third week with both sides showing no sign of backing down and diplomats trying to ensure safe passage for tankers through the crucial Strait of Hormuz.

The bourse is racing against time as it tries to finish new rules on formalizing a minimum free float hike from 7.5 to 15 percent as part of its proposed solution to MSCI, with the Nyepi-Idul Fitri extended holiday just around the corner.

Iran warned it could target United States "hideouts" in the United Arab Emirates as a major UAE energy hub suffered disruption after a drone attack on Saturday, and US President Donald Trump said "many countries" would send warships to the region.

Indonesia exported around $2.5 billion worth of coffee products last year, excluding instant coffee, with most of the products shipped to the United States, Belgium, Germany and Egypt.

Asian stocks slumped on Friday, poised for a second straight weekly decline as fast-dwindling hopes of a resolution to the US and Israel's war with Iran kept oil prices aloft, casting a shadow over global markets and spurring inflation fears.

A prolonged disruption of maritime traffic in the Middle East could paralyze high-pressure acid leaching (HPAL) operations to produce mixed hydroxide precipitate (MHP) in Indonesia, an industry group has warned, given the country’s heavy reliance on sulfur shipments from the region.

Explosive-laden Iranian boats appear to have attacked two fuel tankers in Iraqi waters, setting them ablaze and killing one crew member on Wednesday, after projectiles struck four vessels in Gulf waters, said port, maritime security and risk firms.

The slowdown followed an unusually strong start to the year rather than a more fundamental shift in investor appetite.

Shares steadied on Wednesday following a brief retreat in oil prices, but markets remained anxious as contradictory signals from the US-Israeli war on Iran left investors struggling to gauge its impact on global inflation and growth.

Oil prices fell on Tuesday after hitting an over three-year high in the prior session as US President Donald Trump predicted the war in the Middle East could end soon, easing concerns about prolonged disruptions to global oil supplies.

Iran's Revolutionary Guards said on Tuesday they would not allow "one liter of oil" to be shipped from the Middle East if US and Israeli attacks continue, prompting a warning from President Donald Trump that the US would hit Iran much harder if it blocked exports from the vital energy-producing region.

The sell-off in Jakarta mirrors a broader slide across Asian markets, where economies heavily reliant on Gulf oil shipments remain particularly sensitive to surging energy prices.  

The dollar surged on Monday as soaring oil prices sent investors scrambling for cash on worries that a protracted Middle East war could severely disrupt energy supplies and hurt global growth.

Share markets slid in Asia on Monday as the inflationary pulse from surging oil prices threatened to raise living costs, and perhaps interest rates, across the globe, while an investor hunger for liquidity kept the US dollar in demand.

The US Treasury Department is expected to announce measures aimed at combating rising energy prices in the wake of the Iran conflict, including potential action involving the oil futures market, a senior White House official said.

Asia stocks fell on Friday and were headed for their sharpest weekly drop in six years while oil prices were poised for their biggest jump in four years in a turbulent week for global markets as the conflict in the Middle East showed few signs of easing.

Asian equities jumped Thursday after a three-day rout sparked by the Middle East war, but concerns about an extended conflict helped oil extend gains, while analysts warned of more volatility ahead.

Asian stocks tanked on Wednesday, with a record-breaking market crash in Seoul, as investors dumped crowded bets on chipmakers on worries a widening Middle East war will drive an oil shock that raises inflation and delays interest rate cuts.

Multiple Indonesian local media reported on Wednesday that Fitch Ratings has downgraded Indonesia's sovereign credit rating outlook to negative from stable.

The dollar rallied to a three-month high in early trading in Asia on Wednesday, with investors retreating from the euro as the growing conflict in the Middle East sparked fears of a sustained rise in energy prices.