Retail: FY26 Outlook: Fiscal Boost and Store Expansion Drive Steady Growth in FY26F (OVERWEIGHT)
We expect govt fiscal expansion to boost gradual demand recovery, while store expansion remains the key growth driver for retailers in FY26F.
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Equity Strategy: FY26 Outlook: Still a Stock Picker’s Market Amid Gradual Growth Recovery
We set the FY26-end JCI target at 9,440; Our bottom-up total-return screen highlights BBCA, ISAT, JPFA, ASII, KLBF, AADI, NCKL, ICBP as key picks.
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Telco: FY26 Outlook: Sustained Mobile Momentum and Upside from Fiber Transformation
We maintain an Overweight on the sector, supported by resilient mobile momentum and selective catalysts from ongoing fiber transformation.
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Solusi Sinergi Digital (WIFI IJ) 3Q25 Earnings Weighed by Early-Stage Investment...
The company guides for 3mn FTTH homeconnect and 5mn 5G FWA subs by 26F, supported by partnership with local contractors and RT/RW Net.
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Macro Outlook 2026: The Year of Transmission – From Policy to Impact
Volatility at the Forefront. Early 2025 was marked by sharp market volatility driven more by abrupt policy shifts than weakening fundamentals.
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