Market Data In last week’s trading, Jakarta Composite Index (JCI) closed at 6,636.48, up 1.82%. Foreign investors recorded a net buy of IDR 2.31 trillion across all markets and a net buy of IDR 1.61 trillion in the Regular Market. Foreign investors recorded net inflows into BBRI (IDR 1.43T), BBCA (IDR 820.2B), BMRI (IDR 687.6B), BBNI (IDR 253.2B), and TINS (IDR 199.6B). Meanwhile, the largest foreign net sellings were recorded in CPIN (IDR 516.6B), EMAS (IDR 236.5B), ASII (IDR 196.0B), ISAT (IDR 187.5B), and AMMN (IDR 131.0B). Global sentiment: Markets remained under pressure from escalating US–Iran tensions after the US targeted three Iranian oil tankers, prompting Tehran to respond with restrictions around the Strait of Hormuz. The escalation pushed oil prices around 10% higher amid concerns over potential supply disruptions. In the US, Nonfarm Payrolls increased by 162K, above expectations of around 50K, giving the Fed more room to maintain higher interest rates and weighing on Wall Street. Domestic sentiment: Indonesia strengthened trade and investment cooperation with Ireland through a strategic dialogue focused on trade diversification and increased investment. Bilateral trade reached US$228.6 million in 2025, with further growth potential through the implementation of the IEU-CEPA. The two countries also signed an LoI to promote more concrete economic and business cooperation. This week’s key economic data: From the US, August PPI is expected to rise 0.3% MoM from 0.0% previously, while Core PPI is expected to increase 0.3% MoM from 0.2%. Initial Jobless Claims are expected at 205K versus 206K previously. Meanwhile, August CPI is expected to rise 0.4% MoM from 0.1% and 3.4% YoY, while Core CPI is expected to remain at 0.2% MoM and 2.4% YoY, compared with 0.2% and 2.5% YoY previously. From China, the August Trade Balance is expected at US$120.1 billion versus US$112.5 billion previously. Exports and imports previously grew 23.9% YoY and 27.5% YoY, respectively. Inflation is expected to rise to 0.9% YoY from 0.5%, while MoM inflation is expected at 0.2% versus -0.1% previously. PPI is expected at -3.6% YoY versus -3.5% previously. From Indonesia, August foreign exchange reserves were previously recorded at US$145.3 billion. August Consumer Confidence is expected at 117 versus 116.8 previously. July Retail Sales are expected to contract 3.3% YoY from -3.0% previously, while August car sales previously grew 33.3% YoY and motorcycle sales 8.3% YoY. Stockpick: ACES, COIN, SSMS.