KIWOOM Morning Equity – 07 July 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. REBOUND IN AI STOCKS LIFTS WALL STREET, INDONESIA–SINGAPORE ENERGY COOPERATION IN FOCUS US MARKET: Wall Street closed higher in Monday's trading (06/07/26), driven by a rebound in semiconductor stocks after undergoing a correction over the past two weeks. S&P 500 index rose 0.7% to 7,537.43, Nasdaq Composite strengthened 1.1% to 26,121.16, while the Dow Jones Industrial Average added 0.3% and set a new closing record at 53,055.91, simultaneously closing above the 53,000 level for the first time. The strengthening was led by the technology sector, particularly chip and memory stocks, after investors re-accumulated AI stocks that were previously pressured by profit-taking. INDONESIA: The Government of Indonesia and Singapore are strengthening strategic cooperation in the energy sector by appointing BPI Danantara as the executor of the cross-border electricity trade project. Through its subsidiary, Danantara Investment Management (DIM), Danantara signed a memorandum of understanding with Keppel Electric and Sembcorp Utilities to explore the purchase of low-carbon electricity from Indonesia, as well as cooperating with Singapore Energy Interconnections (SGEI) in developing the electricity grid interconnection of the two countries. The project with a minimum capacity of 3.4 GW is targeted to begin commercial operations by 2035 and will implement the Cross-Border Renewable Energy Certificate (REC) as the standard for green electricity trading. This cooperation is part of 26 agreements produced in the Indonesia-Singapore Leaders' Retreat, while simultaneously strengthening Indonesia's position as a regional clean energy supplier and supporting the realization of the ASEAN Power Grid. - In addition, the Ministry of Communication and Digital (Kemkomdigi) targets the national internet speed to reach an average of 100 Mbps within the next two years through the acceleration of digital infrastructure construction. The government is prompting telecommunication operators to increase capital expenditure (capex) to expand fiber optic networks, fixed broadband, and satellite-based internet services to accelerate the equalization of connectivity to areas that still experience blank spots. This step is expected to strengthen the national digital economy ecosystem, increase public productivity, as well as present faster, more equal, and affordable internet services, while simultaneously becoming a catalyst for the growth of the telecommunications and digital infrastructure sectors. JCI closed higher by 0.69% to 5,916.07 with movement in the range of 5,857.35 – 5,935.68. Foreign investors again recorded a net sell of Rp163.01 billion, bringing the cumulative year-to-date (YTD) net sell to Rp89.07 trillion. Selling pressure primarily occurred in BMRI, MAPI, AMMN, BREN, and TLKM, while foreign buying action was focused on BBCA, TPIA, BBRI, BUVA, and RAJA. In the foreign exchange market, the Rupiah weakened to around Rp17,990/US$, ending a five-day winning streak, as market focus shifted to domestic risks ahead of the release of June foreign exchange reserves data following five consecutive months of declining foreign exchange reserves. Technically, JCI has begun to show a positive signal after recording a minor breakout from its downtrend line and successfully holding above the EMA10 (5,868), which indicates that selling pressure is beginning to ease. Even so, the primary trend remains bearish because the index is still below the EMA20 (5,960) and EMA50 (6,358) as well as moving within a downtrend channel. The RSI (14) rose to 45.20, reflecting an improvement in momentum though it has not yet entered the bullish zone. As long as JCI is able to hold above 5,900 – 5,916, the opportunity for a technical rebound remains open toward 5,960 and 6,045 – 6,107. Conversely, if it falls back below 5,900, the index risks testing support at 5,882 – 5,800, then 5,744 (gap area). Confirmation of an increase still requires an increase in transaction volume and continued foreign investor accumulation.