KIWOOM Morning Equity – 11 August 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. US CPI IN FOCUS AS JCI FACES PRESSURE AMID BI GOVERNOR NOMINATION US MARKET: Wall Street closed slightly lower on Monday's trading (08/10/26), after posting its best weekly gain since mid-April. S&P 500 fell 0.1% to 7,753.11, Nasdaq Composite weakened 0.3% to 26,605.36, while Dow Jones Industrial Average corrected 0.1% to 53,975.98. The weakness occurred mainly in tech stocks, including Intel, which fell after announcing a plan to issue US$15 billion worth of shares. INDONESIA: Indonesia's Consumer Confidence Index (IKK) for July 2026 fell to 116.8 from 117.8 the previous month, while the Consumer Expectations Index (IEK) weakened to 125.7 from 126.4. Although still at an optimistic level, the decline indicates consumers are becoming more cautious about the outlook for income, employment, and purchasing power. The share of income for installment payments rose to 10.5% from 10%, while the consumption share edged up to 73% from 72.7%, indicating shrinking room for public spending. - On the policy front, President Prabowo Subianto proposed Destry Damayanti as the sole candidate for the definitive Governor of Bank Indonesia to the DPR (House of Representatives). Destry currently serves as Acting Governor of BI following Perry Warjiyo's resignation. LPS (Deposit Insurance Corporation) considers Destry's experience at LPS and the Ministry of Finance to be a positive asset for strengthening financial sector policy coordination through the KSSK (Financial System Stability Committee). JCI closed down 0.69% at the 6,365.37 level on Monday (08/10), moving in a range of 6,362.76 – 6,462.74. Foreign investors booked a net sell of Rp875.51 billion in the Regular Market, though across all markets they still recorded a net buy of Rp829.70 billion. Foreign fund inflows mainly went into DSSA, MDKA, TINS, BBCA, and PSAB, while the largest selling pressure occurred in TPIA, BMRI, TLKM, ASII, and BBRI. In the foreign exchange market, the Rupiah strengthened to around Rp17,760/US$, marking two consecutive sessions of gains and reaching a seven-week high, supported by Destry Damayanti's nomination as the sole candidate for BI Governor and a weaker DXY. Technically, JCI formed a bearish candle after failing to hold its breakout above the 6,377 resistance, though it still closed above the EMA10 (6,299), EMA20 (6,230), and EMA50 (6,264), so the short-term bullish trend remains intact though momentum is starting to stall. The RSI (14) at 60.69 indicates positive momentum remains fairly strong and has not yet entered overbought territory. As long as it can break back through and hold above 6,377, JCI has room to continue strengthening toward 6,463 – 6,500, with the next target around 6,723. Conversely, weakness below 6,299 risks triggering a correction toward 6,264, then 6,230. KIWOOM RESEARCH advises Hold / Accumulate on weakness, with a trailing stop should JCI close back below the 6,299 area.