Indonesia's IDX Composite dipped 72 points, or 1.2%, to 5,916 in early Wednesday trading, snapping a five-session winning streak amid renewed Middle East tensions after the U.S. launched fresh airstrikes on Iran following attacks on ships in the Strait of Hormuz. Domestic sentiment also remained fragile, with the rupiah remaining weak, a large budget deficit in H1 2026, and widespread layoffs across several industries, highlighting mounting macroeconomic and labor market risks. While Indonesia's forex reserves edged higher in June, they remained near a two-year low. Investors also awaited June consumer confidence data later in the day after May's reading fell to an eight-month low. All major sectors were in the red, led by basic materials, property, consumer cyclicals, and energy. Among notable decliners, Amman Mineral International dropped 4.2%, followed by Petrindo Jaya Kreasi (-3.9%), XLSmart Telecom (-3.5%), and Indah Kiat Pulp & Paper (-3.0%).