The JCI On Wednesday Is Predicted To Strengthen Back, These Five Stocks Potentially Cuan
JAKARTA - The Composite Stock Price Index (JCI) is projected to rebound to around 6,600-6,650 in today's trading, Wednesday, March 12. Phintraco Sekuritas in its research estimates the JCI will move in the range of 6,600 resistance, 6,550 pivots, and 6,500 support.
Phintraco Sekuritas explained that the JCI remained in the support range of 6,550 from last Tuesday's weakening. Yesterday's JCI weakening was less than 1 percent, relatively much smaller than Wall Street's weakening on Monday.
"This strengthens the belief that the market in Indonesia has been relatively priced against the sentiment of cutting Indonesia's stock market rating by Goldman Sachs since the cuts first announced by Morgan Stanley," wrote Phintraco Sekuritas.
On the other hand, continued Phintraco Sekuritas, the strengthening of almost 1 percent of BBRI in yesterday's trading validated the view that there was potential for selective buying in large-qualtialized bank stocks, especially BBRI and BBNI. "This is related to selectively embedding overweight rankings to BBRI and BBNI by JP Morgan," added Phintraco Sekuritas.
From external, inflation in the United States (US) will be the focus of market players today because it is believed to be one of the determinants of the FOMC's decisions on March 18, 2025.
Meanwhile, US President Donald Trump has increased the tariff on Canadian steel and aluminum products from 25 percent to 50 percent effective from this Wednesday, before being postponed. Previously, Ontario Premier, Dough Ford imposed additional costs for electricity exports to the US, although this policy was ultimately postponed.
BACA JUGA:
This brings the yields of 10 years of US bonds back to around 4.28 percent on Tuesday. It is feared that the risk of intensification of the trade war will have an impact on rising inflation in the US which will limit the Fed's interest rate pruning space.
Meanwhile, Phintraco Sekuritas recommends five shares for today, namely ASII, BBNI, BMRI, AUTO, and ANTM.