Some Of These Sentiments Are Predicted To Trigger The Weakening Of The JCI Monday

JAKARTA - The movement of the Composite Stock Price Index (JCI) today, Monday, September 11, is predicted to still be hit by several sentiments, after last weekend's decline of 0.43 percent or 30.03 points to 6,924.78.

Phintraco Sekuritas in his research said that the JCI will have the potential to continue pullback in the range of 6,880-6,900 on Monday. This is indicated by Stochastic RSI and MFI which tend to decline. Also, the widening of the negative slope in MACD.

Another sentiment, namely the ASEAN Summit (KTT) in Jakarta on September 5-7, 2023, resulted in a number of agreements, especially in the energy and mining sectors, including downstream industry, EV ecosystems and electricity exports.

This has the potential to trigger short-term rebounds in energy stocks and basic materials. In addition, still from within the country, the market will pay attention to the release of Indonesia's Trade Balance (NPI) data as well as exports and imports in August 2023.

Following China's contracting export and import conditions in August 2023. As well as a decrease in Indonesia's foreign exchange reserves of 600 million US dollars, Month on Month (MoM) to 137.1 billion US dollars as of August 31, 2023.

Meanwhile, from external, China will release inflation data which is estimated to rise to 0.2 percent YoY in August 2023 from -0.3 percent YoY in July 2023. In addition, the US will also release inflation data in August 2023 on Wednesday, September 13.

The recommended stocks include PT Kencana Energi Lestari Tbk (KEEN), PT Mitra Adiperkasa Tbk (MAPI), PT Saratoga Investama Sedaya Tbk (SRTG), and PT Pertamina Geothermal Energy Tbk (PGEO).