Market Data In last week’s trading, Jakarta Composite Index (JCI) closed at 6,525.69, up 1.93%. Foreign investors recorded a net buy of IDR 2.23 trillion across all markets and a net buy of IDR 548.58 billion in the Regular Market. Foreign investors recorded net inflows into BBRI (IDR 745.3B), BBCA (IDR 409.1B), AMMN (IDR 329.1B), ANTM (IDR 251.2B), and PSAB (IDR 133.6B). Meanwhile, the largest foreign net selling was recorded in ISAT (IDR 322.3B), ASII (IDR 211.3B), DSSA (IDR 139.7B), AADI (IDR 95.9B), and CPIN (IDR 81.2B). Global sentiment remains mixed, with investors taking profits ahead of a potential announcement of additional US sanctions on Iran amid heightened geopolitical risks around the Strait of Hormuz. Meanwhile, US equities were supported by business activity growing at its fastest pace in more than four years. However, the recent rise in long-term Treasury yields driven by inflation and fiscal concerns remains a key market focus, while the US dollar continued to weaken. Domestic sentiment is mixed to positive, as the government moves to control fuel subsidies by restricting Pertalite purchases for higher-income groups. The policy could improve budget efficiency and redirect subsidy savings toward more productive energy programs. On the fiscal side, the Directorate General of Taxes (DGT) is targeting IDR 806 trillion in tax revenue from large taxpayers in 2026, supported by a cooperative compliance approach to maintain taxpayer compliance while optimizing state revenue. This week, key economic data to watch from the US include the Core PCE Price Index, PCE Price Index, 2nd Estimate of GDP Growth, Personal Income & Spending, and Initial Jobless Claims. Market attention will also focus on the Jackson Hole Symposium and speeches by several Federal Reserve officials, including Fed Chair Warsh, which could provide further clues on the direction of US monetary policy. From China, Industrial Profits (YTD) YoY in July will be one of the key indicators to watch, with previous growth at 18.7% and a forecast of 16.0%. In addition, the National People’s Congress will also be on the market’s radar. From Indonesia, M2 Money Supply YoY in July will be the key indicator at the beginning of the week, with previous growth at 8.7%, providing insights into domestic liquidity conditions and credit growth. Stockpick: ACES, ANTM, CPIN.