Indonesia’s IDX Composite dropped 30 points or 0.4% to 8,385 in Tuesday’s morning session, reversing gains from the prior day after an extended Wall Street drop overnight. Investors cautiously braced for a wave of U.S. data following the end of a government shutdown, while bets of a Fed rate cut next month receded after Vice Chair Jefferson highlighted downside risks to the labor market. Locally, Jakarta is finalizing export tax rules on gold, with a proposed 15% levy on prices above USD 3,200 per ounce as part of a broader strategy to boost non-tax revenues in 2026. Producer manufacturing, consumer durables, and transport led falls, with notable laggards from Barito Pacific (-4.2%), Bumi Resources (-3.6%), Impack Pratama Industri (-3.4%), and GojekTokopedia (-3.2%). Traders now await Bank Indonesia’s rate decision on Wednesday, with Governor Perry Warjiyo signaling that subdued inflation may allow for potential future cuts following a total 150bps reduction since September 2024.