Indonesia’s IDX Composite dipped 82 points, or 1.4%, to 5,918 in a Friday morning session, erasing the prior day’s rally as broad-based selling gripped all major sectors. Regional weakness weighed after a mixed Wall Street close overnight, with Apple’s price hikes to offset surging chip costs adding pressure. Sentiment was further clouded by vigilance ahead of June PMI data from main trading partner China next week, and local data on June CPI and May trade. Still, losses were capped by reports that Indonesia is considering another budget cut of over USD 2 billion for Prabowo’s flagship free meal program, easing fiscal burden. Basic materials, cyclicals, and industrials were among notable laggards, with solid declines from Jasa Marga (-7.6%), Darma Henwa (-6.7%), Sarana Mitra Luas (-6.2%), and Buka Lapak (-4.8%). For the week, markets are set for their first fall in three weeks, down about 3.8% so far, as frontier-market downgrade risks linger despite MSCI's review delay to November.