JCI Projected To Move Sideways In 7,450-7,550 Range On Thursday

JAKARTA - The Jakarta Composite Index (JCI) is projected to move in the range of 7,450-7,550 in trading today, Thursday, August 7, after weakening 11.43 points or 0.15 percent to 7,503.75 at the close of trading on Wednesday.

Phintraco Sekuritas stated in its research that the JCI closed lower on Wednesday, after fluctuating between positive and negative territory within a narrow range.

Noncyclical consumer sector stocks recorded the largest correction, while basic materials sector stocks posted the largest increase.

Meanwhile, domestic house price index data for the second quarter of 2025 grew 0.9 percent year-on-year (yoy) from 1.07 percent year-on-year (yoy) in the first quarter of 2025. This growth is the slowest since 2003, indicated by declining purchasing power and increased layoffs.

This is evident in the slowest house price growth in small houses.

Technically, the MACD indicator has formed a death cross with a negative histogram. Meanwhile, the Stochastic RSI index is approaching the oversold area, but there are no signs of a reversal yet. The Accumulation/Distribution indicator still shows distribution.

"The JCI is expected to continue moving sideways in the 7,450-7,550 range," explained Phintraco Sekuritas.

Globally, for Thursday's trading, investors will be watching China's trade surplus data for July 2025, which is expected to fall to US$103.4 billion from US$114.77 billion.

In the UK, investors will be awaiting the Bank of England meeting, which is expected to lower interest rates to 4 percent from 4.25 percent. Meanwhile, the US will release data on initial jobless claims last week, which is expected to rise slightly to 220,000 from 218,000 the previous week.

Domestically, foreign exchange reserve data for July 2025 will be released.

Phintraco Sekuritas' recommended stocks for trading this Thursday include ERAA, BRMS, PGAS, AKRA, and ISAT.