JAKARTA - The Composite Stock Price Index (JCI) was closed to the green zone in yesterday's trading, Wednesday, August 23. JCI slightly strengthened 0.07 percent or 4.96 points to 6,921.41 until the end of trading.
Phintraco Sekuritas in his research said that the JCI formed a shooting star pattern after the area resistance test of 6,930-6,950 on Wednesday. This pattern indicates a correction-prone condition in the JCI on Thursday.
"Thus, market players should continue to pay attention to pivots at 6,880-6,900," explained the research of Phintraco Sekuritas.
The market is influenced by the realization of the Euro Area (43.7) and Germany (39.1) manufacturing index which is better than expected in July 2023. On the contrary, the realization of the British manufacturing index (42.5) was below expectations in the same period.
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"From the US, market participants anticipate the implementation of the Jackson Hole Symposium. The meeting of central bank leaders from around the world is expected to provide views on the market regarding the direction of monetary policy and the outlook for the financial sector going forward," added research by Phintraco Sekuritas.
The tendency of wait and see attitudes towards the meeting held back the movement of bank stock prices on Wednesday. On the other hand, defensive stocks, such as TLKM, AUTO, BUKA, MIKA, PRDA, and MAPI can be considered today, Thursday, August 24.
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