Just caught the Indonesia stock market bouncing back pretty nicely on Thursday after getting hammered the previous days. The JCI was down over 650 points earlier in the week but managed to recover with a solid 1.76% jump to close around 7,710. The financial and resource sectors led the charge, which is interesting if you're watching Indonesia ETF exposure since those are major components.

Looking at individual movers, the banking stocks were everywhere - BNI up over 3%, BCA spiked 3.27%, Mandiri rallied nearly 3%. Semen Indonesia had a crazy day jumping almost 7%. But here's the thing, the global backdrop is pretty shaky right now. Energy prices are surging and Wall Street was in the red across the board Thursday, which usually doesn't bode well for Asian markets on the next session.

The crude situation is getting intense too. WTI jumped 8.7% in one day and is up over 21% for the week because of Middle East tensions. That's the kind of macro pressure that can easily spill over into emerging markets like Indonesia. If you're holding any Indonesia ETF or considering it, Friday could be rough depending on how the overnight sentiment plays out. The JCI might struggle to hold these gains if energy concerns persist and the global risk-off mood continues.