Indonesia Energy Corp Ltd

Indonesia Energy shares jumped 40% in premarket action Monday, extending Friday's 22% rally as oil prices climbed on Middle East supply concerns. Traders are watching whether the gains hold at the open.

Indonesia Energy Corporation shares jumped approximately 40% in premarket activity Monday, extending Friday's 22% gain as oil prices climbed on supply concerns. Market participants are watching whether the rally sustains through the regular session opening.

Indonesia is set to enforce a ban on users under 16 from high-risk social media platforms, including YouTube, starting March 28. The rule directly challenges a business segment that generated over $60 billion for Alphabet last year.

Grab Holdings sets aside Rp100-110 billion for enhanced holiday bonuses for Indonesian drivers following a new government mandate. Separately, Grab Malaysia will increase monthly interest on new PayLater instalments to 1.25% starting March 9.

The Indonesia Stock Exchange (IDX) starts phasing in a new 15% minimum free-float requirement next week, which may compel over 200 listed companies to increase their public share offerings. Market focus also shifts to upcoming trade and inflation figures.

Barito Renewables Energy closed lower as markets assess Indonesia's proposed 15% minimum free-float rule, which could force BREN to release over $1.8 billion in shares. The broader Jakarta Composite Index edged down slightly.

SLB shares dropped 1.8% to $50.64 as oil prices declined, overshadowing new offshore drilling contracts for a deepwater gas project in Indonesia targeting first production by 2028.

IBM and Meta have launched their AI Alliance in Indonesia, promoting open-source AI tools and training. Meanwhile, IBM's $11 billion acquisition of Confluent faces regulatory review in Australia.

Jardine Matheson shares advanced 1.1% in Singapore trading as Indonesia engages in talks over the revoked permits for the Martabe gold mine, operated by its subsidiary Agincourt Resources.