Asian markets reversed Thursday after forecast-topping US inflation dealt a hefty blow to hopes for a June interest rate cut and forced traders to re-evaluate the outlook for monetary policy, with a warning that the next move could even be a hike.

There is a nervousness on trading floors that a third successive miss to the upside on consumer prices could force the Federal Reserve to delay cutting borrowing costs.

Some Tokyo players were locking in profits after recent gains, analysts said.

Industrial metals prices extended their gains on Tuesday with expectations of a worldwide manufacturing rebound, while Asian shares crept up a little more cautiously ahead of this week's US inflation data and a crucial European Central Bank meeting.

BMI Research, a think tank belonging to rating agency Fitch, expects the drop in nickel prices seen last year to continue this year.

Beijing's commerce minister dismissed as "groundless" US concerns that a surge of low-cost Chinese exports posed a risk to global markets, as Washington's Treasury chief on Monday wrapped up a visit aimed in part at addressing the issue.

Asian markets fluctuated Monday as traders weighed the chances of the Federal Reserve cutting interest rates this year after a forecast-busting US jobs report dented hopes for a first move in June.

Despite reaching an all-time closing high on Mar. 14, the Indonesia Stock Exchange (IDX) Composite index ended the first quarter of this year with only a slight increase of 0.22 percent, underperforming when compared with foreign indexes.

The Indonesia Stock Exchange (IDX) Composite regains momentum in its last trading session before the long Idul Fitri holiday, closing in the green for the second consecutive day at 7,286.88 on Friday.

Asian shares retreated on Friday as hawkish comments from some Federal Reserve officials and escalating geopolitical tensions put a dent in risk sentiment, while traders were also cautious ahead of US jobs data due later in the day.

Imports may be necessary amid declining supply from local pipeline natural gas and sliding domestic gas production. 

The IDX Composite ended Thursday 1.22 percent higher as investors watched the US Federal Reserve’s policy direction.

Asian markets rose Thursday after US data provided a fresh indicator that inflation was easing and Federal Reserve boss Jerome Powell soothed worries about the bank's plans to cut interest rates this year.

The dollar held near an over four-month peak on Wednesday, pinning the yen close to its lowest its decades though the heightened threat of currency intervention by Tokyo capped further declines in the Japanese currency.

Asian markets tumbled Wednesday as investors grow increasingly skeptical that the Federal Reserve will cut interest rates as much as hoped this year, while a massive earthquake in Taiwan added to the sense of gloom.

Despite being in the red for most of Tuesday, the IDX Composite strengthened at the market closing amidst strengthening stock exchanges in other parts of Asia.

The price has passed the government’s assumption stipulated in the state budget set at $80 per barrel this year.

Asian stocks rose on Tuesday and the dollar firmed, keeping the yen pinned near the 152-per-dollar levels that has traders worried about possible intervention, as expectations that the Federal Reserve was close to cutting interest rates faded.

As the second quarter of 2024 begins, the IDX Composite fell 1.15 percent. Insights about inflation and sectoral shifts have emerged amid market activity and the upcoming holiday.

Chinese shares led a rally around most of Asia on Monday amid a broadly optimistic global economic backdrop, but Japanese shares tumbled with the yen pinned near levels that have traders on guard for a currency intervention.

The IDX Composite declined for a second consecutive day on Thursday, the last trading day of the week, slipping 0.29 percent to close at 7.288,81.

Asian investors trod carefully Thursday after a Federal Reserve official floated the idea of delaying or reducing interest rate cuts, while the yen held gains having briefly hit a 34-year low the day before.

The fall raised speculation that authorities would step into markets to support the currency after officials warned in recent days against speculation.

Asian equities climbed on Tuesday but could not break this month's highs as mixed messages from US Federal Reserve policymakers left doubts hanging over the timing of interest rate cuts.

Beekeepers in Java and Sumatra lament a lack of government support and note that Vietnam has created honey quality benchmarks and provides bees and land for farmers.

Indonesia's palm oil product exports slipped in January and February, raising concerns less of the edible oil will be available domestically because of the tie between overseas sales quotas and internal quotas, official said on Monday.

Asian markets were mixed on Monday as investors set their sights on the release of key US inflation data due at the end of the week.

The emergence of a food-versus-fuel dilemma in Indonesia has added to concern that a push for palm oil-based biodiesel will drive deforestation.

The Indonesia Stock Exchange (IDX) Composite rose 0.16 percent on Friday to finish the trading day at 7,350.15, making for a 0.30 percent weekly increase and a 1.06 percent year-to-date increase.

Substantial amounts of international investment have been pulled out of Indonesian bonds following Prabowo Subianto’s win in the general election.