JAKARTA - The Composite Stock Price Index (JCI) is predicted to be corrected in today's trading, Wednesday, August 28, after yesterday touching the new all-time high (ATH). JCI fell 0.11 percent or 8.31 points to 7,597.88 at the end of stock exchange trading.
Phintraco Sekuritas in his research said the JCI moved away from overbought area along with corrections on Tuesday. Therefore, the JCI is still maintaining another chance of a resistance test at the level of 7,600 on Wednesday, August 28.
Economic data that tends to be positive is a sentiment in the JCI movement. China posted profit industrial growth of 3.6 percent year on year (yoy) in July 2024, up from 3.5 percent yoy in June 2024.
Meanwhile, Germany posted a realization of 0 percent yoy economic growth in the second quarter of 2024, better than expected -0.1 percent yoy and conditions in the first quarter of 2024 -0.1 percent yoy. However, Germany Gfk Consumer Confidence deteriorated to level -22 in September 2024 from the previous level -18.6 in August 2024.
The next sentiment is still external, where the World Health Organization (WHO) has re-established the case of Mpox or monkeypox as a global public health emergency following an outbreak in the Democratic Republic of Congo and a number of surrounding countries.
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From within the country, there has been no significant surprise from the first day of registration of regional head candidates for regional head elections in November 2024.
The top picks of Phintraco Sekuritas fell to PT Bank Mandiri (Persero) (BMRI), PT Bank Negara Indonesia (BBNI), PT Erajaya Swasembada (ERAA), PT Aspirasi Hidup Indonesia Tbk (ACES), PT Charoen Pokphand Indonesia (CPIN), PT Japfa Comfeed Indonesia (JPFA), PT Malindo Feedmill Tbk (MAIN) and PT Telkom Indonesia (TLKM).
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