JCI has the opportunity to fly to 9,000, check its stock recommendations

JAKARTA - The composite stock price index (JCI) is predicted to continue strengthening by testing the level of 9,000 in today's trading, Wednesday, January 7, after yesterday rose 0.84 percent to 8,933.6.

Phintraco Sekuritas in its research said that basic materials stocks still lead the index strengthening. The continued strengthening of the majority of metal commodity prices and the existence of several incentives from the government are positive factors in the index movement.

Even so, the rupiah continued to close weaker in the spot market at the level of Rp16,740 per US dollar, Tuesday (6/1/2026).

Phintraco Sekuritas explained, technically, the positive MACD histogram continued to strengthen along with the increase in buying volume. Stochastic RSI also continued to strengthen towards the overbought area.

"So it is estimated that the JCI has the opportunity to test the psychological level at 9,000, but is vulnerable to minor pullbacks in the short term due to profit taking," wrote Phintraco Sekuritas.

Phintraco explained that the government continued to provide several incentives to encourage people's purchasing power so that it is expected to trigger an acceleration of economic growth.

Through PMK 105/2025, the government provides incentives for the release of PPH 21 during 2026 for employees with salaries below IDR 10 million per month who work in the footwear, textile and garment, furniture, leather and leather derivatives industries, and tourism sectors.

Meanwhile, through PMK 90/2025, the government stipulates that the government bears 100% of the VAT for the selling price of houses up to Rp. 2 billion for freehold houses and Rp. 5 billion for terraced houses during 2026. The government is also reviewing incentive rules for the automotive industry.

In addition to observing global geopolitical developments, investors are looking forward to a number of economic data to be released from Europe and the US on Wednesday, January 7.

From Germany, retail sales and the labor market will be released, while from the Euro Area, inflation data will be released. Investors will pay attention to the ISM Services index and JOLTS Job Openings from the US.

The stocks recommended by Phintraco Sekuritas today are BBRI, EMTK, SRTG, BBTN and INDY for trading, Wednesday, January 7.