JAKARTA - The Composite Stock Price Index (JCI) is predicted to experience another strengthening in today's trading, Thursday, January 16, after yesterday's jump of 1.77 percent or 122.90 points to 7,079.56.
MNC Sekuritas in his research saw that the strengthening of the JCI yesterday was due to cutting the BI interest rate by 25 basis points (bps) to 5.75 percent beyond market expectations.
"This reduction in interest rates is estimated to maintain the stability of the rupiah exchange rate against the United States (US) dollar, which is currently still weakening and is at the level of Rp. 16,290 per US dollar," explained MNC Sekuritas research.
JCI today has a limited chance of strengthening with support at 6,989 and resistance at 7,120. The sentiment affecting the JCI movement is the release of US inflation data.
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"In addition, there is a release of Japanese inflation data and US retail sales," explained MNC Sekuritas research.
Meanwhile, MNC Sekuritas advises investors to pay close attention to BRIS shares with a target price of Rp2,800 - Rp2,900 per share, PGEO Rp945 - Rp995 per share, and BUKA Rp128 - Rp133 per share.
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