Indonesia’s IDX Composite edged lower to around 6,665 in early Thursday trading, extending the prior session’s losses as Wall Street’s third consecutive decline overnight dampened risk appetite. Rising U.S.–Iran tensions pushed Brent crude above USD 100/bbl, heightening inflation concerns. At the same time, U.S. Treasury yields climbed despite an unusually large USD 6 billion debt buyback. Domestically, investors remained wary of fiscal risks stemming from elevated oil prices, although officials reiterated that the state budget remained on solid footing. Downside pressure was partly offset by August consumer confidence, which rose to a three-month high on the back of improved household finances and a more optimistic economic outlook. Sector-wise, financials, healthcare, and non-cyclical consumer stocks weighed on the benchmark, while gains in energy, technology, and basic materials helped limit further losses. Notable laggards included Japfa Comfeed (-2.1%), Indika Energy (-1.6%), Bank Rakyat Indonesia (-1.2%), and Unilever Indonesia (-0.6%). Market participants now await July retail sales figures, after June recorded a third consecutive monthly decline.