JAKARTA - Mirae Asset Sekuritas Indonesia assesses that the performance of banking issuers will continue to improve in 2023.
Head of Research Team II Mirae Asset Handiman Soetoyo said, there were two factors that led to this good performance.
"This possibility is considering two main factors, namely the growth in net interest income and the improvement in the quality of bank assets," Handiman said, quoting Antara, Thursday, March 9.
Furthermore, other positive factors are Eid activities and the political year, as well as the obligation to repatriate United States (US) dollars from exports of natural resources which took effect earlier this month.
He also suggested that investors could choose banks that have large exposure to corporations and have better asset quality, with the main choices (stock picks) on BBCA and BMRI with a recommended buy target price of IDR 10,100 and IDR 12,300 respectively. the shares.
Improvement in banking conditions this year is in line with Indonesia's current macroeconomic conditions. Senior Investment Information Mirae Asset Nafan Aji Gusta predicts that Indonesia's macroeconomy will still be under control considering domestic fundamental factors.
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Some of these factors are the easing of domestic core inflation and export growth that is greater than imports, which will still guard against the risk of an aggressive increase in US benchmark interest rates.
With this more conducive climate, the Composite Stock Price Index (IHSG), which has started to strengthen steadily since the beginning of the year, is predicted to continue strengthening.
"Technically, the JCI, which was flat in February 2023, is predicted to consolidate with a weakening tendency within the movement range of 6,747-6,850 throughout March 2023," said Nafan.
Of the existing sectors, he recommended five sectors because they have the potential to strengthen, namely primary and non-primary consumer goods, industry, health, and finance.
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