Indonesia is estimated to require a total of US$4.3 billion to retire 9.2 GW of coal plants by 2030.

It is shaping up to be a fraught week for Europe as it waits anxiously to see if Russia resumes the flow of gas through the Nord Stream 1 pipeline on July 21, while Italy teeters on the brink of political turmoil should Prime Minister Mario Draghi go ahead and resign. 

The decision by the world's biggest palm oil exporter could further depress prices FCPOc3, which have fallen by about 50 percent since late April to their lowest in over a year.

Below-par earnings from Wall Street titans JP Morgan and Morgan Stanley compounded worries that companies' bottom lines would be hit by the economic fallout from a series of issues including rising prices, monetary policy tightening and the war in Ukraine.

Stock prices on Wall Street retreated after a sharp uptick in US inflation to 9.1 percent in June increased the risk of a possible recession. 

The euro clawed its way back slightly after hitting parity with the dollar for the first time in two decades, though it remains under pressure from growing concerns about an energy crisis across the eurozone and the European Central Bank's slower pace of monetary tightening.

Indonesia has chosen to carefully adjust to the global trend of rising fuel prices as it shields its economy from uncontrolled inflation.

The dollar index, a measure against six counterparts, with the euro most heavily weighted, was 0.2 percent higher at 108.43. It had earlier climbed to 108.47, its highest since October 2002.

Indonesia may miss this year’s oil-output target due to project delays, an official at the Upstream Oil and Gas Special Regulatory Taskforce (SKK Migas) said.

Market leading growth stocks pulled all three major US stock indexes into negative territory, with risk-off sentiment exacerbated by Macau's first casino shutdown in over two years to curb the spread of COVID-19. 

Nord Stream I, the biggest single pipeline carrying Russian gas to Germany, starts annual maintenance on Monday. Flows are expected to stop for 10 days, but governments, markets and companies fear the shut-down might be extended due to war in Ukraine and could disrupt plans to fill storage for winter.  

Two multinational companies have expressed interest in investing in the Nusantara capital city project, the government has said, after Japan's Softbank pulled out of the enterprise in March.

An upbeat US June payrolls report already has the market wagering heavily on a hike of 75 basis points from the Federal Reserve this month, and sending bond yields higher. 

Indonesia will need some US$6.9 trillion per year for green infrastructure construction to achieve its 2030 sustainable development targets as stipulated in the Paris Agreement.

Equities were in positive territory the entire session, a rarely upbeat day in a year in which stocks have been dogged by worries over inflation and tightening monetary policy.

The euro was at $1.0262, only a fraction above its overnight low of $1.0236, its weakest since late 2002.

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.