JAKARTA - The Composite Stock Price Index (IHSG) closed up 0.89 percent or 67.29 points to 7,626.95 in trading on Tuesday, October 15, yesterday. So what about today's trading, Wednesday, October 16?
Phintraco Sekuritas, in its research, technically saw that IHSG was able to stay above the psychological level of 7,600 along with the narrowing of the negative slope on the MACD indicator which indicated the potential for further strengthening.
"If IHSG is able to stay above the level of 7,600, it will potentially continue to strengthen towards the level of 7,650 on Wednesday," explained Phintraco Sekuritas.
From the domestic side, the market is awaiting the Bank Indonesia Board of Governors Meeting (RDG-BI) scheduled for Wednesday to find out the direction of monetary policy and the benchmark interest rate policy. The market estimates that BI will hold the benchmark interest rate at 6 percent at the BI RDG meeting.
From the global side, the market anticipates the release of exports and imports price data month on month (mom) in the United States (US) in September 2024 which is scheduled to be released on Wednesday as a market reference in assessing the performance of American international trade in September 2024.
The market estimates that US international trade performance will improve in September 2024 along with exports prices improving to -0.4 percent MoM in September 2024 from -0.7 percent MoM in August 2024 and imports prices stabilizing at -0.3% in September 2024.
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From the European Region, the market is awaiting the release of UK Inflation data in September 2024 which is scheduled for release on Wednesday as a reference for knowing the direction of the Bank of England (BoE) monetary policy.
The market expects UK inflation to ease to 1.9 percent year-on-year (yoy) in September 2024 from 2.2 percent YoY in August 2024.
The selected stocks from Phintraco Securities for today are ADMR, SRTG, INDF, JPFA, and HRUM.
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