JAKARTA - The Composite Stock Price Index (JCI) has the opportunity to rebound or strengthen back in today's trading, Wednesday, November 26, after closing down 0.56 percent yesterday to the level of 8,521.88.
Corrections occurred even though the majority of the global and regional Asian exchanges were in the green zone and the rupiah also strengthened against the United States dollar.
According to Nafan Aji Gusta, Mirae Asset Sekuritas Senior Investment Information, the market still digests the statements of two Fed officials, John Williams and Christopher Waller, who both support cutting the benchmark interest rate by 25 basis points in December 2025. As a result, the Fed's interest rate cuts probability jumped to around 69 percent, from 44 percent in the previous week.
"Market participants are also waiting for the release of a number of important macroeconomic data such as PPI, retail sales, and US industrial production, which could affect the direction of the Fed's monetary policy going forward," Nafan said.
He added that US President Donald Trump's invitation to Chinese President Xi Jinping to visit the US at the end of the year helped ease the tension of the trade war. Domestically, sentiment came from the Ministry of Finance's new policy plan.
Minister of Finance Purbaya Yudhi Sadives is preparing rules that are focused on strengthening the national manufacturing sector. There is a shift in focus on consumption and export of commodities towards downstreaming and increasing added value," he explained.
For trading this Wednesday, Nafan estimates the JCI will move in the support range of 8,553 and 8,506, with resistance at 8,600 to 8,666.
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Meanwhile, Herditya Wicaksana, MNC Sekuritas analyst assessed that today's weakening of the JCI was more due to profit-taking after the index touched a new record high in the previous trade. Technically, Herditya assessed that the JCI's short-term trend was still positive.
"JCI is still in an uptrend area. Tomorrow there will be a rebound opportunity first," said Herditya.
For stock recommendations, Herditya advised investors to pay close attention to AGII's shares in the range of Rp. 1,470 to Rp. 1,600, ICBP at the level of Rp. 8,875 to Rp. 9,300, and MBMA in the area of Rp. 620 to Rp. 645.
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