KIWOOM Morning Equity – 08 October 2026 This document is for information only and for the use of the recipient. It is not to be reproduced or copied or made available to others. RISING GLOBAL YIELDS AND GEOPOLITICAL RISKS, INDONESIA MAINTAINS STABILITY US MARKET: Wall Street closed lower on Wednesday (07/10/26). Dow Jones Industrial Average fell 0.66%, while S&P 500 and Nasdaq Composite each corrected 0.22%. The decline came after Treasury yields jumped to their highest level since 2002. In corporate stock news, Levi Strauss fell nearly 2% in after-hours trading after cutting its full-year revenue growth projection. Investors are next awaiting earnings reports from PepsiCo, Progressive, and Delta Air Lines, as well as weekly jobless claims data. INDONESIA: Indonesia's foreign exchange reserves at the end of September 2026 fell slightly to US$146.3 billion from US$146.5 billion in August, but remain equivalent to 5.3 months of imports and well above international adequacy standards. The decline was mainly due to foreign debt payments and rupiah stabilization, while government foreign exchange receipts and a trade surplus of US$3.55 billion helped support the reserve position. Foreign capital outflows of around US$0.83 billion were one source of pressure, with year-end 2026 foreign exchange reserves projected to be in the range of US$143–147 billion. - In addition, the Ministry of Communication and Digital Affairs (Komdigi) handed over 45 hectares of land in Depok to the Ministry of Public Housing and Settlement Areas (PKP) to support the Three Million Houses Program, which could potentially accommodate around 150,000 apartment units. The government will involve the Ministry of Finance, LKPP, the Audit Board (BPK), and Statistics Indonesia (BPS) to ensure governance aspects and the proper targeting of housing distribution, including finding solutions for around 218 households still living in the area. Of the total land, 30.086 hectares are Komdigi assets and 14.97 hectares are RRI (state radio) assets. JCI closed down 0.75% at 6,146.72. Based on Wednesday's (07/10) trading, foreign investors booked a net sell of Rp828.65 billion, with accumulated YTD net sell reaching Rp110.28 trillion. Foreign fund flows mainly came in through BBRI, ULTJ, TLKM, FORU, and BRMS, while the largest foreign selling pressure was recorded in BBCA, GOTO, BUMI, BRIS, and TPIA. The Rupiah was relatively stable at around Rp17,900/USD, supported by September foreign exchange reserves of US$146.3 billion. Meanwhile, the government projects H2 2026 economic growth above 5.5% after reaching 5.45% in H1, supported by spending efficiency and incentives for strategic sectors. Technically, JCI reversed into a correction and is below the EMA10, with RSI (14) falling back to the 40 level. JCI is expected to be vulnerable to weakening again toward support at 6,120 / 6,111 and testing 6,053. Conversely, if JCI manages to strengthen, it would retest 6,168 (EMA 21), then 6,252 – 6,292. KIWOOM RESEARCH suggests investors could buy on weakness and wait for a buy signal momentum to reappear.