Equities in Indonesia dropped 44 points, or 0.5%, to 8,083 in early trade on Thursday, as traders took profit after the broader index hit record highs in the previous two sessions. The IDX Composite tracked a downbeat session on Wall Street overnight, as investors weighed pressure on AI leaders and digested Fed Chair Jerome Powell’s warning about persistent inflation and labor market fragility. A weakening rupiah and continued foreign outflows also dampened sentiment. Traders are now awaiting key US economic data - including final Q2 GDP, initial jobless claims, and PCE inflation -тwhich could help guide the Federal Reserve’s upcoming interest rate decisions. However, the downside was capped by the OECD's revised outlook for Indonesia’s GDP growth, now projected at 4.9% for both 2025 and 2026, up from previous estimates. Tech and banking stocks led the decline, with notable losses from Bank Mayapada (-2.1%), Bank Danamon (-1.3%), BRI (-1.2%), and BCA (-0.6%).