JCI Is Expected To Weaken On Wednesday, Market Players Awaiting The Results Of The Fed's Interest Rate Determination
JAKARTA - The Composite Stock Price Index (JCI) is projected to move lower today, Wednesday, December 10, after yesterday's decline of 0.61 percent to the level of 8,657.18.
Phintraco Sekuritas in his research said that the main sentiment that became the attention of market players was the result of the Federal Reserve meeting which was estimated to lower the benchmark interest rate by 25 basis points.
Yesterday's JCI decline was seen by analysts as a profit take after the JCI scored a new high, plus the pressure from the majority of Asian exchanges that moved lower ahead of the Fed's decision.
Phintraco Sekuritas said, technically the JCI formed a bearish engineering candlestick, which indicates the potential for short-term corrections. The RSI Stochastic indicator also shows bearish divergence, so the JCI is expected to weaken towards an area of 8,625 to 8,650.
"For Wednesday's trading, technically the JCI is expected to be stretched by resistance of 8,750, pivot of 8,700, and support of 8,600," explained Phintraco Sekuritas.
From the domestic side, the JCI will be influenced by a number of sentiments. For example, the Consumer Confidence Index (IKK) which rose to level 124 in November 2025 from 121.2 in the previous month. This position became the highest since February 2025, supported by an increase in all major subindexes.
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The market is also looking forward to the release of retail sales data in October 2025 which is projected to grow 4 percent on an annual basis, an increase from 3.7 percent in September.
Meanwhile, the majority of Asian exchanges moved slightly today in line with investor caution ahead of the Fed's decision to be announced Thursday morning WIB. On the other hand, the Central Bank of Australia (RBA) has again maintained its benchmark interest rate at the level of 3.6 percent for the fourth time, after a total of 75 basis points cuts this year.
The stocks recommended by Phintraco Sekuritas today are BRPT, JPFA, UNVR, MYOR, and WIFI.