XA Market Update
1Q26 Of Landmines and Timebombs
by : NHKSI Research Team
March 17, 2026
🔹 Global Macroupdate :
• The Donroe Doctrine – Gunboat Diplomacy
• A Coughing Dragon : Fading Mandate Of Heaven
• Spilling Over To South-East Asia
• 15% Global Tariffs
• U.S. Inflation And Jobs Reports
• The Rise of A.I. and Datacenter
• Warsh Replace Powell – A Hawkish Turn Or Surprise Dove?
🔹 Domestic Macroupdate :
• Indonesia Between BRICS and BOP
• Subsidies Pulled, APBN Overstretched
• MoF Strives For De-Bottlenecking Initiatives
• IDX Reforms
• Danantara’s Investing Spree
• Domestic Inflation From Commodity Price Rise
• MSCI and FTSE Delays
• Dependency On The U.S.
• Indonesia In The Scope of Its SEA Peers
• Yield Curve Show Signs of Slowdown
• Outflows Persist at Manageable Levels
🔹 Sectoral-Driven Narratives :
• Data Center Expansion
• Oil and Gas Pumped-Up
Download full report HERE.
