JAKARTA - The Composite Stock Price Index (JCI) is predicted to continue to weaken in today's trading, Wednesday, May 20, after yesterday's plunge of 3.46 percent to the level of 6,370.68.
Phintraco Sekuritas in its research explained that the JCI weakened due to selling pressure after rumors circulated that the government planned to regulate commodity exports through a special state-formed body.
A number of commodities that are rumored to be regulated include coal, CPO to metal minerals. This raises investor concerns that there will be potential for controlling selling prices that can have an impact on reducing the company's profit margins.
This rumor is associated with President Prabowo's plan to attend the DPR Plenary Meeting and will deliver a speech on the Macro Economic Framework and Fiscal Policy Elements (KEM-PPKF) of the 2027 Budget Year on Wednesday.
This is the first time that the Head of State has directly delivered the KEM-PPKF document to the DPR, which is usually delivered by the Minister of Finance of the Republic of Indonesia.
In addition, investors anticipate the results of RDG Bank Indonesia which will be announced this Wednesday, where according to the consensus, Bank Indonesia will raise the BI Rate by 25 bps to 5 percent, in order to mitigate the weakening of the rupiah.
Meanwhile, credit growth in April is estimated to grow 9.7 percent YoY from 9.49 percent YoY in March 2026 on Wednesday (20/5/2026).
Meanwhile, MNC Sekuritas stated that it was aware of the continued correction of the JCI to the range of 6,092-6,148 and closed the next gap area.
MNC Sekuritas recommends four stocks for today's trading, namely ANTM, INDF, JPFA, and TLKM.
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