JCI Is Predicted To Move Stronger On Monday, Six Shares Could Be An Option
JAKARTA - The Composite Stock Price Index (JCI) is predicted to strengthen again in today's trading, Monday, May 5, after last weekend's rise of 0.72 percent to 6,815.73 at the end of trading, Friday, May 2.
Phintraco Sekuritas in his research said that the increase in the JCI last week was due to rumors that China was evaluating opportunities for trade negotiations with the US.
"The US government itself has softened up a week ago and pushed for negotiations with China," explained Phintraco Sekuritas.
This week, the market is awaiting the announcement of trade deals from a number of countries that have started negotiations with the United States following the announcement of the reciprocal tariff on April 2, 2025.
Domestically, the market responded positively to the increase in inflation to 1.95 percent YoY in April 2025 from 1.03 percent YoY in March 2025. Core inflation also tends to increase to 2.5 percent YoY in April 2025.
"This data is considered to indicate an increase in domestic consumption in April 2025, better than market concerns," he added.
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For Monday's trading, Phintraco Sekuritas estimates the JCI will move in the range of 6,730 - 6,870 levels with psychological level tests at 6,800. Technically, overbought conditions will not hinder the JCI from continuing its strengthening rally.
The recommended stocks include PT Indah Kiat Pulp & Paper Tbk (INKP), PTBarito Pacific Tbk (BRPT), PT Bumi Resources Tbk (BUMI), PT Indofood CBP Sukses Makmur Tbk (ICBP), PT Media Nusantara Citra Tbk (MNCN), and PT XL Axiata Tbk (EXCL).