The requirement to drop coal is burdensome for miners as the country has yet to build an adequate electricity grid powered by renewable energy. 

The mood on trading floors has become increasingly gloomy in recent months as observers warn that sharp interest rate hikes aimed at curbing price rises could cause a contraction, compounding uncertainty caused by Russia's war in Ukraine.

Asian shares inched up on Tuesday morning as positive economic data and hints of easing Sino-US tensions offered some respite to the recent sell-offs, though persistent fears about a global recession and sky-high inflation kept most buyers at bay.

Global share markets wavered on Monday as a run of soft US data suggested downside risks for this week's June payrolls report, while the hubbub over possible recession was still driving a relief rally in government bonds.

Indonesia may be unable to meet increasing demand for coal from European countries that are looking to stock up on the dirty fuel source as they reduce energy imports from Russia.

Major oil producers led by Saudi Arabia and Russia are expected to stick to a previously decided output boost at their meeting on Thursday, despite pressure to further increase production.

The dollar slipped against most major peers on Wednesday as a decline in US yields took some of the sheen off the currency, with investors mulling the risk of a recession from aggressive Federal Reserve rate hikes.

The mood among German consumers has reached an all-time low, according to a key survey published Tuesday, as the war in Ukraine drives a painful wave of inflation.

Economists are increasingly pessimistic about the potential for US policy makers to engineer a "soft landing" as central banks tighten monetary policy, reversing a after a long period of rock-bottom borrowing rates due to surging inflation.

The Hang Seng Index jumped 3.15 percent, or 684.47 points, to 22,403.53 -- its highest level since early April.

Stocks gained in Asia on Monday amid improved risk sentiment after Wall Street rebounded strongly at the end of last week as oil prices eased, tempering fears of prolonged inflation and the accompanying aggressive Federal Reserve tightening.

Global markets have been thrown into turmoil for months by a perfect storm of crises that have left observers predicting a sharp contraction, including the Ukraine war, China's lockdown-induced economic troubles, supply chain snarls and spiking energy costs.

Financial services firm Moody’s Analytics has forecast a turbulent time ahead for the domestic real estate market as the Indonesian rupiah depreciates against the United States dollar.

The safe-have yen bounced, climbing back from 24-year lows to the dollar. The risk-sensitive Australian dollar dropped, and the Korean won slid to its weakest level for 13 years.

Asian shares wobbled while commodity prices fell on Thursday as mounting worries about the risks of a global recession amid aggressive rate hikes by the Federal Reserve kept broad investor sentiment fragile.

Amid rising inflation and global interest rates, the World Bank released a downside growth scenario where Indonesia’s GDP growth would fall short of the government’s target in both 2022 and 2023.

The euro and sterling fell on Wednesday as concerns resurfaced that interest rate hikes from major central banks to contain inflation run the risk of a sharp global growth slowdown or recession. British consumer price inflation hit a new 40-year high at 9.1 percent.

Equities struggled Wednesday after a brief respite from last week's painful rout across world markets, with recession fears continuing to build as central banks hike interest rates to combat decades-high inflation. 

Several countries have asked Indonesia for rice, hoping the world's third-largest producer of the grain can help them overcome shortages at home, but experts and farmers see little chance of Indonesia becoming a major exporter in the foreseeable future.

Equities rose Tuesday in Asia as some stability returned to markets after last week's upheaval, but analysts warned of further pain for traders after central bank officials hinted at further interest rate hikes to reel in inflation.

Indonesian authorities hope to reach an agreement with Singapore to start exporting chickens within weeks, officials said, as the city-state scrambles to find alternative supply sources after another neighbor Malaysia restricted sales.

Markets widely believe that Chinese policymakers are wary of risks that the yuan will depreciate and capital outflows will be triggered if they embark on further monetary easing to underpin a COVID-19-hit economy at a time when other major economies are tightening their rates policies.

The US Federal Reserve's biggest rate hike since 1994, the first such Swiss move in 15 years, a fifth rise in British rates since December and a move by the European Central Bank to bolster the indebted south all took turns roiling markets.

World stocks on Friday headed for their worst week since markets' pandemic meltdown in March 2020, as investors feared sharp rate hikes tipping economies into recession, while growth fears and a soaring Swiss franc whacked the US dollar.

As foot-and-mouth disease (FMD) continues to spread, the price of sacrificial livestock has witnessed a notable hike amid rising demand and limited supply nearing the celebration of Idul Adha.

Asian stocks rose on Thursday, while longer-dated US government bond yields fell and the dollar was down from two-decade highs after the US Federal Reserve delivered an aggressive rate hike and cut its growth projections.

Asian equities were mixed Wednesday with investors nervously awaiting a Federal Reserve interest rate decision that has taken on greater significance since a forecast-busting inflation report sent shockwaves through world markets.

Expectations for a 75 basis-point increase at the conclusion of a two-day meeting on Wednesday are nearly baked into prices, according to CME's Fedwatch Tool with investment banks like Goldman Sachs expecting a 75 basis-point rate hike in June and July, and a 50 basis-point rise in September.

Panic has swept through trading floors since data on Friday showed US consumer prices rising at their fastest pace in a generation owing to a spike in energy and food costs caused by the Ukraine war, China's lockdowns and supply chain snarls.

Asian shares tumbled on Tuesday after Wall Street hit a confirmed bear market milestone and bond yields struck a two-decade high on fears aggressive US interest rate hikes would push the world's largest economy into recession.