Indonesia introduces new export control regulations, causing the stock market to decline further to 2.4%.

Indonesian President Prabowo Subianto announced tightening controls on the export of bulk commodities during a budget speech in parliament, leading to a further decline in the Indonesian stock market. The Jakarta Composite Index gave back its previous 1.4% gain, with the largest drop reaching 2.4%. Prabowo stated, "This regulatory reform is a strategic measure to strengthen the management of bulk commodity exports and natural resource sales." The Indonesian government also proposed to limit the fiscal deficit as a percentage of GDP to between 1.8% and 2.4% by 2027. In terms of market performance, the basic materials sector led the decline, with the local index for such stocks falling by 5.9%. The Indonesian rupiah had previously reached a historic low, but is currently stabilizing, trading at 17,700 Indonesian rupiah to 1 US dollar.