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

BRI Danareksa Research

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. 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)

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.

Thematic (Sector/Industry)

Indonesia Financials / Thematic (Sector/Industry)

<ul><li>Past precedents of MSCI EM downgrade indicated that foreign investors tend to derisk during review time and ahead of the implementation.</li><li>We maintain our bottom-up view and continue to tilt exposure toward sectors with clearer earnings visibility: Telco, Poultry, Consumers; and momentum in Metals. </li><li>We maintain our FY26-end JCI target of 9,400 but see downside risk to 8,900-9,175 if flow premium is reduced. Our top picks are: ANTM, AADI, ISAT, JPFA, ICBP, BBNI.</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>

Past precedents of MSCI EM downgrade indicated that foreign investors tend to derisk during review time and ahead of the implementation.We maintain our bottom-up view and continue to tilt exposure toward sectors with clearer earnings visibility: Telco, Poultry, Consumers; and momentum in Metals. We maintain our FY26-end JCI target of 9,400 but see downside risk to 8,900-9,175 if flow premium is reduced. Our top picks are: ANTM, AADI, ISAT, JPFA, ICBP, BBNI.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.

주식 전략: MSCI 보고서에서 나타난 해외 자금 유입 과잉; 하향식 선별적 투자 비중 유지