External broker reports(aggregated public sources), MNC Sekuritas

MNC Sekuritas

MNC Sekuritas, the first wholly-owned subsidiary established by the Group back in 1989, provides a complete range of services, from equity, fixed income, investment banking to providing research to optimize clients’ investments. Thus far, the company has more than 140 points of sales with over 100,000 clients. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Thematic (Sector/Industry)

Indonesia Financials / Thematic (Sector/Industry)

<ul><li>President Donald Trump and the Republican Party are advancing the “Big Beautiful Bill,” a signature legislative initiative of Trump’s second term.</li><li>The bill aims to extend the tax cuts enacted during his 2017-2021 presidency, while also increasing defense spending and allocating funds for mass deportation efforts and heightened border security.</li><li>A particularly contentious provision is the proposed USD1 trillion reduction in Medicaid funding, which provides healthcare for low-income Americans.</li></ul><p><em>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.</em></p>

President Donald Trump and the Republican Party are advancing the “Big Beautiful Bill,” a signature legislative initiative of Trump’s second term.The bill aims to extend the tax cuts enacted during his 2017-2021 presidency, while also increasing defense spending and allocating funds for mass deportation efforts and heightened border security.A particularly contentious provision is the proposed USD1 trillion reduction in Medicaid funding, which provides healthcare for low-income Americans.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.

Macro & Market Perspective July 10, 2025