Mirae Asset Sekuritas Predicts JCI Will Reach 7,600, Here's The Sentiment!

JAKARTA - Mirae Asset Sekuritas stated that the Composite Stock Price Index (JCI) will be supported by a lot of sentiment. It is even predicted to penetrate 7,600 in the fourth quarter of 2023.

Head of Research Team & Strategic Mirae Asset Sekuritas Robertus Hardy explained, the first sentiment is that commodity-based stocks will no longer be the weight of the JCI in the second half of this year, just like in the first semester of 2023.

"Commod commodity-based stocks actually contributed around 178 points to the decline in the JCI (semester I 2023). Namely, it almost removed the positive contribution of banking sector-based stocks that contributed to the 23-point JCI increase," said Robertus in Media Day August 2023 quoting Antara, Tuesday, August 15.

Second, he continued, the three stock sectors, namely cement, automotive, and telecommunications, will contribute more to the growth of the JCI in the second half of this year.

Then, third, the potential for greater state spending in the second half of this year will provide positive sentiment to the JCI, considering that until July 2023 the realization of government spending has only reached 48 percent of the target.

"In addition, the completion of infrastructure projects, preparations for the 2024 General Election, will begin with the construction of the State Capital (IKN) of the Archipelago," said Robertus.

From abroad, in the second half of this year, the central bank of the United States (US) The Federal Reserve (The Fed) will begin to dovish their monetary policy, or in other words, start lowering the level of the benchmark interest rate.

Previously, Mirae Asset Sekuritas revised the JCI projection to reach 7,600 by the end of 2023, from the previous 7,700.

On the same occasion, Head of Business Innovation Mirae Asset Sekuritas Wisnu Aditya said that the company's research and research from securities and other capital market institutions can be accessed by the public through a research website called Financial Information & Market Access (FIMA).

"Not only research, but also stock recommendations from experts, economic data, technical analysis, fundamental stock screeners, news, forums, media centers, and selected stocks, so that FIMA is a one stop solution for Indonesian investors and capital market traders," said Wisnu.