JAKARTA - The Composite Stock Price Index (JCI) is expected to still consolidate in today's trading, Tuesday, April 21, after yesterday closed down 0.52 percent to 7,594.1.
Phintraco Sekuritas in its research said that the renewed escalation of tensions between the US and Iran had dampened hopes for the reopening of the Strait of Hormuz in the near future. Thus, it encouraged the strengthening of crude oil prices to US$89 per barrel for WTI and US$95 per barrel for Brent.
All sectors experienced corrections with the largest weakness in property sector shares of 2.04 percent.
"Technically, the JCI is expected to still consolidate in the range of 7,500-7,700 levels," wrote Phintraco Sekuritas.
The rupiah closed up 0.12 percent at 17.168 per dollar in the spot market on Monday, April 20, while most other Asian currencies corrected.
The increase in the price of non-subsidized fuel, although Pertalite and Pertamax did not increase, reduced pressure on the potential for increasing the burden on the state budget, although limited. So it is appreciated by the limited strengthening of the rupiah against the US dollar.
On the other hand, the Chinese central bank again maintained the Prime lending rate at the lowest level for the 11th consecutive month at 3 percent for a 1-year tenor and 3.5 percent for a 5-year tenor in April 2026 on Monday, April 20.
This move is in line with market estimates and reflects caution over global uncertainties due to the conflict in the Middle East, although deflationary pressures in China have eased and economic growth at the beginning of the year is still solid.
Investors will pay attention to the unemployment rate data in the UK in February 2026 which is estimated to remain at 5.2 percent on Tuesday, April 21. Meanwhile, data on retail sales in the US is expected to grow 1.1 percent MoM in March 2026 from 0.6 percent MoM in February 2026.
Phintraco Sekuritas recommends five stocks for today, namely IMPC, BRMS, TAPG, SMDR and DSNG.
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