JAKARTA - The movement of the Composite Stock Price Index (JCI) is projected to be depressed in today's trading, Thursday, August 25, after closing up 0.44 percent yesterday to a level of 7,194.70.
The movement of the JCI yesterday was still overshadowed by the increase in interest rates and the price of fuel oil (BBM). Phintraco Sekuritas analyst Valdy Kurniawan said that the JCI is projected to be stuck at the level of 7,200 in today's trading.
Valdy said that one of the factors holding back the strengthening of the JCI was market speculation regarding the announcement of an increase in subsidized fuel prices in the near future
"The market considers BI's decision to raise the benchmark interest rate by 25 basis points to be a strong signal of an adjustment in subsidized fuel prices in the August-September 2022 range," he said in the research.
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Another factor came from the weakening of the majority of global indexes in recent days ahead of the Jackson Hole Economic Symposium on Friday, August 26, 2022. The market is waiting for a clue from Jerome Powell regarding the direction of the Fed's policy.
Valdy said investors or market participants should pay attention to the potential rebound in BBRI, HRUM, LSIP, MDKA, WIKA, and WIRG stocks.
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