KIWOOM Morning Equity – 15 September 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. AI CONCERNS PRESSURE GLOBAL MARKETS, INDONESIA STRENGTHENS FISCAL CREDIBILITY US MARKET: Wall Street closed lower on Monday's trading (09/14/26). Nasdaq Composite fell 0.56% to 26,186.41, S&P 500 weakened 0.48% to 7,619.98, and Dow Jones Industrial Average corrected 0.29% to 52,421.20. The biggest pressure came from the tech sector after concerns emerged over the outlook for AI development, with the SOX semiconductor index plunging 5.9%. INDONESIA: President Prabowo Subianto officially appointed Suahasil Nazara as Finance Minister, replacing Purbaya Yudhi Sadewa, to continue the term of the 2024–2029 Merah Putih Cabinet. Prabowo gave a primary mandate to maintain state financial management and ensure the state budget remains an instrument that drives economic growth while maintaining stability. - In addition, Suahasil asked Ministry of Finance officials to continue ongoing work to maintain the institution's credibility and public trust. Meanwhile, the Ministry of Energy and Mineral Resources (ESDM) tightened RKAB (Work Plan and Budget) approvals by holding back submissions from mining companies that still have outstanding financial obligations or have not yet completed reclamation, while around 50 revisions to the 2026 RKAB remain under evaluation. The RKAB system is also confirmed to remain annual-based to maintain oversight and discipline in the mining sector. JCI closed down 0.10% at the 6,534.69 level on Monday's trading (09/14), after moving in a range of 6,371.40 – 6,550.00. Foreign investors recorded a net sell of Rp330.69 billion in the Regular Market, with the largest accumulation in AMMN, BRMS, EMAS, AADI, and ASII, while the largest selling pressure occurred in ANTM, BMRI, BBCA, BUMI, and TINS. In the foreign exchange market, the Rupiah weakened toward Rp17,650 per US Dollar, extending its weakness for a third consecutive session amid a stronger US Dollar Index ahead of the Fed's policy meeting. Technically, JCI briefly touched the dynamic EMA50 support and the strong 6,377 support, then managed to rebound and hold back above the EMA20 (6,530.95) and EMA50 (6,428.92). The RSI (14) fell to 53.38, still above the neutral area of 50, but indicating diminishing strengthening momentum. Should JCI fail to hold above the EMA20 at 6,531, the correction could potentially continue toward 6,429 (EMA50), with the next support at 6,377. Conversely, should it manage to rebound and break back through the EMA10 at 6,581 and 6,642, JCI would then have room to test 6,723. KIWOOM RESEARCH advises investors to wait & see while monitoring JCI's ability to hold in the 6,531 – 6,429 area. Investors who have already profited can apply a trailing stop or gradual profit-taking should JCI break through that support, while buy accumulation should wait for confirmation of a rebound and a return above the EMA10 at 6,581.