JCI Thursday Potentially Weakens As A Result Of This Sentiment

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is projected to continue to weaken in today's trading, Thursday, April 4. after yesterday's decline of 0.97 percent or 70.140 points to the level of 7,166,844.

Phintraco Sekuritas in his research said yesterday's weakening of the JCI was caused by market attitudes that were still waiting for a number of economic data releases in Europe.

He explained, this Thursday there will be a meeting to discuss monetary policy in the European region. According to him, the market is looking forward to the results of this meeting because it is believed to have a significant impact on the financial market.

In addition, market attention is also focused on releasing PMI Composite and PMI Jasa Index data for the European, British and German regions.

"This data is expected to provide an initial picture of economic conditions in these areas," explained the research of Phintraco Sekuritas.

The projected trade balance for the United States for February again shows a widening deficit of 68 billion US dollars.

According to him, this is due to the continued increase in imports over the past two months, reaching around 300 billion US dollars, while exports tend to stagnate in the range of 250 billion US dollars.

In addition, the projected increase in early unemployment claims shows signs of increasing job loss, potentially lowering consumer confidence and hampering business investment.

"These factors can have a negative impact such as an increase in the unemployment rate and slowing economic growth," explained Phintraco Sekuritas.

Furthermore, JCI has a limited chance of weakening in the support range of 7,140 and resistance 7,200 today. Stocks that can be observed include TKIM, INKP, MEDC, ELSA, LSIP and AALI.