JCI Still Vulnerable To Weaken Hit By Negative Sentiment Of Trump Tariffs, Four Stocks Are Recommended

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is projected to continue to weaken in today's trading, Wednesday, April 9. Phintraco Sekuritas in its research estimates the JCI will move in the resistance range of 6,400, pivot 6,000, and support 5,800.

Phintraco Sekuritas said the JCI experienced a sell-off on Tuesday as a form of adjustment to the significant weakening of the Wall Street, global and other regional markets, which also tended to weaken significantly during the Eid al-Fitr holiday.

"The JCI today is still prone to further weakening to the range of 5,700-5,800," wrote Phintraco Sekuritas.

Phintraco Sekuritas added that one of the triggers was the relatively strong JCI condition on Tuesday by staying above the critical support level of 5,950. The reason is that there has been no significant development regarding the tariff issue in Indonesia.

The government has prepared a high-level delegation to negotiate with the US and bring some offers. However, as of before the implementation deadline, there has been no response from the US Government.

"Thus, the tariff will still be applied in accordance with the announcement last April 2", added Phintraco Sekuritas.

However, Phintraco Sekuritas hopes are positive for the JCI. A number of stakeholders, including OJK and SRO (Self Regulatory Organization) held a meeting last night.

One of the topics discussed is market deepening and increasing investment, including encouraging domestic institutional investors to actively invest reasonable funds in the capital market.

"Discussions related to this are also carried out with the Ministry of Finance and the Coordinating Ministry for the Economy," said Phintraco Sekuritas.

The stocks recommended by Phintraco Sekuritas today are KLBF, BBNI, BMRI, and ESSA.