External broker reports(aggregated public sources), BRI Danareksa Research

BRI Danareksa Research

External broker reports(aggregated public sources)

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor.

Macroeconomics

<ul><li>BRIDS Market Pulse In the Spotlight Indonesia’s S&amp;P BBB/A-2 Rating and Stable outlook affirmation was the key catalysts of the week, removing the near-term sovereign bear case that had weighed on market risk premium since the start of the year.</li><li>JCI closed at 6,175.5, up 4.2% WoW and was the best performer in our regional screen, although still down 28.6% YTD.</li><li>Despite the positive close, the market’s move this week was not linear as JCI hovered around 6,028 into mid-week before the rally accelerated</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BRIDS Market Pulse In the Spotlight Indonesia’s S&amp;P BBB/A-2 Rating and Stable outlook affirmation was the key catalysts of the week, removing the near-term sovereign bear case that had weighed on market risk premium since the start of the year.JCI closed at 6,175.5, up 4.2% WoW and was the best performer in our regional screen, although still down 28.6% YTD.Despite the positive close, the market’s move this week was not linear as JCI hovered around 6,028 into mid-week before the rally acceleratedContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BRIDS Market Pulse: Chart of the week – Sector Performance* from Market Trough

Thematic (Sector/Industry)

<ul><li>As Risks Shift: Policy Outlook Takes Center Stage HIGHLIGHTS A More Supportive Environment Is Emerging Key Risks Shift Toward Monetary Policy</li><li>Sovereign Rating Remains in Focus When Markets Defy Foreign Selling Yield Outlook Resets Higher US Treasury and Domestic Bond Yields Investor Flows in Government Securities (SBN)</li><li>GLOBAL UPDATES US: Hawkish Fed Amid Resilient Economy China: Weak Consumption Amid Sticky Producer Inflation Japan: BOJ Tightens as Inflation Gradually Builds </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

As Risks Shift: Policy Outlook Takes Center Stage HIGHLIGHTS A More Supportive Environment Is Emerging Key Risks Shift Toward Monetary PolicySovereign Rating Remains in Focus When Markets Defy Foreign Selling Yield Outlook Resets Higher US Treasury and Domestic Bond Yields Investor Flows in Government Securities (SBN)GLOBAL UPDATES US: Hawkish Fed Amid Resilient Economy China: Weak Consumption Amid Sticky Producer Inflation Japan: BOJ Tightens as Inflation Gradually Builds Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BRIDS Monthly Update Economic & Fixed Income Research June 2026

<ul><li>May’s first trade deficit since 2020 signals rising external pressure, potentially prolonged by stronger domestic demand.</li><li>Continued trade deterioration could raises twin-deficit risks, pressuring the IDR and narrowing BI’s policy flexibility.</li><li>A sustained external deficit may lift bond risk premiums, although stronger domestic ownership provides greater market resilience.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

May’s first trade deficit since 2020 signals rising external pressure, potentially prolonged by stronger domestic demand.Continued trade deterioration could raises twin-deficit risks, pressuring the IDR and narrowing BI’s policy flexibility.A sustained external deficit may lift bond risk premiums, although stronger domestic ownership provides greater market resilience.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BRIDS Weekly Update Economic & Fixed Income Research Monday, Jul 6, 2026

<ul><li>Our historical analysis suggests that Indonesian markets may be more resilient to foreign outflows than commonly perceived.</li><li>Improving sentiment and clearer domestic policies are supporting market recovery, though sustainability remains the key challenge.</li><li>Restrictive monetary policies are becoming the main market risk, potentially slowing growth and weakening capital flows</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Our historical analysis suggests that Indonesian markets may be more resilient to foreign outflows than commonly perceived.Improving sentiment and clearer domestic policies are supporting market recovery, though sustainability remains the key challenge.Restrictive monetary policies are becoming the main market risk, potentially slowing growth and weakening capital flowsContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BRIDS Weekly Update Economic & Fixed Income Research Monday, Jun 22, 2026

<ul><li>BI delivered a surprise 25bps rate hike and new FX incentives, reinforcing its commitment to Rupiah stability.</li><li>Further tightening remains possible amid rising inflation risks and a higher-for-longer Fed outlook.</li><li>Domestic demand is softening, but current indicators still point to a gradual soft landing. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BI delivered a surprise 25bps rate hike and new FX incentives, reinforcing its commitment to Rupiah stability.Further tightening remains possible amid rising inflation risks and a higher-for-longer Fed outlook.Domestic demand is softening, but current indicators still point to a gradual soft landing. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BRIDS Weekly Update Economic & Fixed Income Research Monday, Jun 15, 2026

Indonesia 10Y (GIDR10YR INDEX)

BRIDS Market Pulse: Chart of the week – Sector Performance* from Market Trough

Despite the positive close, the market’s move this week was not linear as JCI hovered around 6,028 into mid-week before the rally accelerated...

BRI Danareksa Research

BRIDS Monthly Update Economic & Fixed Income Research June 2026

As Risks Shift: Policy Outlook Takes Center Stage HIGHLIGHTS A More Supportive Environment Is Emerging Key Risks Shift Toward Monetary Policy...

BRI Danareksa Research

BRIDS Weekly Update Economic & Fixed Income Research Monday, Jul 6, 2026

A sustained external deficit may lift bond risk premiums, although stronger domestic ownership provides greater market resilience.

BRI Danareksa Research

BRIDS Weekly Update Economic & Fixed Income Research Monday, Jun 22, 2026

Improving sentiment and clearer domestic policies are supporting market recovery, though sustainability remains the key challenge.

BRI Danareksa Research

BRIDS Weekly Update Economic & Fixed Income Research Monday, Jun 15, 2026

Further tightening remains possible amid rising inflation risks and a higher-for-longer Fed outlook.Domestic demand is softening, but current...

BRI Danareksa Research