JAKARTA - The Composite Stock Price Index (IHSG) is predicted to continue to be vulnerable to correction in today's trading, Tuesday, May 19, after yesterday closed down 1.85 percent to 6,599.2.
Phintraco Sekuritas in its research explained that the weakening of the majority of global exchange indices and the continued depreciation of the rupiah were negative factors for the movement of the JCI, amid a lack of positive sentiment.
The majority of indices on the Asian stock exchange moved lower on Monday due to concerns about the renewed escalation of US-Iranian tensions.
The rise in crude oil prices also re-triggered concerns about the increasing rate of inflation. The rupiah closed down 0.4 percent at Rp17,668 per US dollar, which was the lowest closing record in history.
This pressure on the rupiah has prompted speculation that BI has the opportunity to raise the BI Rate at this week's meeting, on May 19-20, 2026.
Meanwhile, MNC Sekuritas predicts the JCI will still be vulnerable to continuing its correction to test 6,307-6,379.
MNC Sekuritas provides recommendations for five stocks for today's trading, namely ADMR, ARCI, BNBR, INKP, and XKID.
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