JCI Predicted to Correct at the Weekend, Check the Stock Recommendations

JAKARTA - The composite stock price index (JCI) has the potential to continue to correct in today's trading, Friday, January 9, after yesterday closed down 0.22 percent to 8,925.4.

Phintraco Sekuritas noted that the raw materials sector recorded the largest correction due to profit taking after a rally over the past few days. Conversely, the transportation sector rebounded so that it recorded the largest strengthening.

Technically, the Stochastic RSI indicator of the JCI is in the overbought area and has the potential to form a Death Cross. In addition, the JCI formed a Shooting Star pattern which indicates the potential for a reversal after the rally over the past few days and reached a new high.

"So it is estimated that the JCI has the potential to continue the correction by testing the level of 8,850-8,900," wrote Phintraco Sekuritas.

Phintraco Sekuritas explained that the state budget deficit reached IDR 695.1 trillion as of December 2025 or equivalent to 2.92 percent of GDP, higher than the 2024 deficit of 2.3 percent of GDP and exceeded the 2025 state budget deficit target of 2.53 percent of GDP.

The primary balance of the State Budget also recorded a deficit of IDR 180.7 trillion. The realization of state revenues reached IDR 2,756.3 trillion or 91.7 percent of the target. Meanwhile, the realization of state expenditures amounted to IDR 2,602.3 trillion or 96.3 percent of the budget.

Then, Indonesia's foreign exchange reserves data increased to 156.5 billion US dollars in December 2025 from 150.1 billion US dollars in November 2025, on Thursday.

This increase was mainly driven by tax and service receipts, global sukuk issuance by the government, and foreign borrowing withdrawals. This level is the highest level since March 2025, and is equivalent to 6.4 months of import financing or 6.3 months of import and foreign debt financing.

Furthermore, investors will look forward to consumer confidence data and automotive sales this Friday.

Phintraco Sekuritas gives recommendations for UNVR, ACES, SMDR, BKSL and SIDO stocks for today's trading.