Today's JCI Is Predicted To Continue Strengthening Supported By Positive National Economic Data

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) has the potential to continue strengthening in trading on Wednesday, May 18 and again penetrated the 6.700 level after yesterday's gain of 0.70 percent or 46.47 points so that it parked at the level of 6.644.47.

Yesterday, foreign investors recorded a net buy of IDR 169.98 billion. Throughout 2022, the net buy of foreign investors reached IDR 63.22 trillion.

CEO of PT Indosurya Bersinar Sekuritas William Surya Wijaya said the increase experienced in the JCI movement yesterday was still a technical rebound, after weakening for 5 consecutive sessions last week.

"The lack of sentiment that can push the JCI up also affects the JCI movement, so that in the short term the JCI will still move sideways," he said in a research publication.

However, after the release of economic data showing that the economy is in a stable condition and capital inflows are still recorded, it can be a support for the JCI movement for some time to come.