JAKARTA - The Composite Stock Price Index (JCI) is projected to be corrected again in today's trading, Thursday, February 20, after weakening 1.14 percent yesterday to the level of 6,794.87.
Phintraco Sekuritas in his research explained that technically, the JCI is still in the overbought area so that there is the potential to weaken again. Thus, Phintraco Sekuritas projects that the JCI has the potential to test the support area of 6,750 to 6,725 in trading this Thursday.
Domestically, Bank Indonesia (BI) continues to maintain its benchmark interest rate at 5.75 percent. This decision is consistent with efforts to keep inflation in 2025 and 2026 under control.
BI is still watching the prospects for inflation and economic growth in utilizing the space for lower interest rates while still considering the movement of the rupiah exchange rate. Following this, BI is scheduled to release M2 Money Supply data on February 20, 2025.
Valdy added that the JCI movement will also be influenced by regional sentiment. Where, China Loan Prime Rate 5Y is estimated to remain at the level of 360 percent.
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The PBoC Loan Prime Rate is also estimated to remain at the level of 3.10 percent. The PBoC last cut the Loan Prime Rate in October 2024.
The stocks selected by Phintraco Sekuritas for today's trading are PGEO, TPIA, UNTR, INDF and AALI.
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