KIWOOM Morning Equity – 14 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. GLOBAL TECH STOCK PRESSURES MOUNT, INDONESIA STRENGTHENS CAPITAL MARKET GOVERNANCE AND PALM OIL INDUSTRY US MARKET: Wall Street closed mixed, leaning weaker, on Tuesday (13/10/26). S&P 500 closed nearly unchanged at 7,805.45, Nasdaq Composite fell 0.15% to 27,204.38, while Dow Jones Industrial Average weakened 0.35% to 51,670.10. Semiconductor stocks came under pressure, with Micron down 4.6%, Applied Materials dropping 7.2%, and Lam Research weakening 3.2%. Johnson & Johnson shares tumbled 5.6%, while financial sector stocks moved mixed following the release of quarterly earnings reports. INDONESIA: The Indonesia Stock Exchange (IDX) added 19 stocks to its High Shareholding Concentration (HSC) list on Monday (12/10/2026), indicating a concentration of share ownership among a small number of investors. Stocks included in the latest list include TBIG, SSMS, PSAB, SMMT, CITA, BMAS, MTEL, ADES, SAME, BBMD, SHIP, BALI, INPP, EPMT, DUTI, MAYA, CLAY, TMAS, and DMND. The addition has drawn investor attention to share ownership structure and concentration among a number of issuers in Indonesia's capital market. - In addition, the government is strengthening sustainable palm oil industry governance through the development of the Indonesian Sustainable Palm Oil Information System (SI-ISPO) to improve supply chain traceability and support compliance with global market requirements, including the European Union Deforestation Regulation (EUDR). The system's development refers to Coordinating Ministry for Economic Affairs Regulation Number 14 of 2025, while Presidential Regulation Number 16 of 2025 expands the scope of ISPO certification to downstream industries and palm oil-based bioenergy businesses. The government is also preparing certification financing support, mentoring, Internal Control System (ICS) training, and certification oversight for smallholders. PT. SUCOFINDO (Persero) is also supporting the development of SI-ISPO through verification and assurance services to strengthen data credibility and supply chain transparency. This initiative is expected to improve compliance with sustainability standards while maintaining the competitiveness of Indonesian palm oil products in international markets. JCI closed down slightly 0.17% at 5,925.98 in Tuesday's (13/10) trading. Amid this weakness, foreign investors booked a net buy of Rp561.60 billion across all markets, consisting of Rp5.89 billion in the regular market and Rp555.71 billion in the cash and negotiated markets. However, on a YTD basis, accumulated foreign net sell still reached Rp111.18 trillion. Foreign fund flows mainly went into ASII, TINS, BRMS, BBCA, ENRG, TPIA, MEDC, BUMI, DSSA, and VKTR shares, while the largest selling pressure was recorded in BMRI, TLKM, BBRI, GOTO, ANTM, ITMG, BBNI, AADI, ADMR, and TEBE. Meanwhile, the Rupiah strengthened to Rp17,872 per US Dollar, although its movement remained limited as the Dollar index held near its 18-month high ahead of the release of key US inflation data. Technically, JCI managed a rebound after touching harmonic support at the FR 61.80% level, although it closed negative. The RSI (14) indicator fell back to the 32.86 level. If JCI manages to strengthen, it would ideally retest 5,979 / 5,995 / 6,120. Conversely, under a downside scenario, JCI could weaken again and test support at 5,839, and if it breaks down, continue to the next support at 5,805 – 5,774 (gap area). KIWOOM RESEARCH suggests investors could buy on weakness and consider a trading buy if the market resumes an upward bias.