Monitoring What Is The Sentiment Of JCI Movement This Week

JAKARTA - The Composite Stock Price Index (JCI) weakened 0.19 percent to 6,879.97 on Friday 11 August. As for a week, the JCI strengthened 0.4 percent.

Phintraco Sekuritas in its research estimates that the JCI will consolidate this week where the Central Statistics Agency (BPS) will release trading balance data in July 2023.

Exports and imports are estimated to contract by 17.75 percent Year on Year (YoY) and 15.45 percent YoY in July 2023.

"This is in line with the economic slowdown conditions, especially China, which experienced deflation in July 2023," explained the research of Phintraco Sekuritas.

On the other hand, Indonesia's relatively stable economic growth is above 5 percent until the second quarter of 2023. Supported by domestic consumption, it is hoped that it can reduce external pressure on Indonesia's trade balance in July 2023. Indonesia's trade balance is estimated to have a surplus of 2.53 billion US dollars in July 2023.

Phintraco Sekuritas projects JCI to move to consolidate in the area of 6,8306,900 this week.

Meanwhile, Phintraco Sekuritas recommends that markets pay attention to stocks with continued rebounds such as PT Kencana Energi Lestari Tbk (KEEN), PT Chandra Asri Petrochemical Tbk (TPIA), PT Tempo Scan Pacific Tbk (TSPC), PT PP (Persero) Tbk (PTPP), PT Indofood CBP Sukses Makmur Tbk (ICBP), and PT Sumber Alfaria Trijaya Tbk (AMRT) this Monday.