JCI On Wednesday Overshadowed By BI And The Fed's Interest Rate Determination

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index today, Wednesday, September 21, will still be overshadowed by the determination of interest rates by Bank Indonesia (BI) and the Fed, after closing slightly lower by 0.02 percent to the level of 7,196.95.

Head of Research NH Korindo Sekuritas, Liza Camelia Suryanata said the JCI movement was still waiting for the FOMC meeting decision related to the Fed Funds Rate (FFR) decision which was predicted to increase by 75 basis points (bps).

Not only that, but BI is also predicted to follow the Fed to raise interest rates at the BI Board of Governors Meeting (RDG) this month. The consensus of analysts is that BI will raise the benchmark interest rate by 25 bps.

Meanwhile, Artha Sekuritas analyst Dennies Christopher Jordan analyzes that the JCI movement will still be limited ahead of the Fed and Bank Indonesia's interest rate determination on Thursday tomorrow.

Meanwhile, Dennies recommends holding CTRA, RALS, WIIM, TIKM, and buying SIDO. He also advised investors to pay close attention to the shares of SMGR, ASII, TOWR, UNVR, and PSKT.