JAKARTA - The Composite Stock Price Index (JCI) is projected to move consolidation in today's trading, Tuesday, July 8, after yesterday's gain of 0.52 percent or 35.74 points to the level of 6,900.
In his research, Phintraco Sekuritas assessed that the JCI moved sideways yesterday with transaction values and volumes that were far below the daily average.
Investors tend to be wait and see, amid rising conditions of uncertainty as tariffs are getting closer on July 9 and the potential for higher tariff increases on August 1, 2025, explained Phintraco Sekuritas.
Technically, the JCI will still be consolidated in the range of support levels of 6,800 and 7,000 resistance for trading this Tuesday. Its movement will be influenced by Indonesia's foreign exchange reserves data in June 2025 which slightly rose to US$152.6 billion from US$152.5 billion in May 2025.
This increase was supported by tax and service revenues, the issuance of global bonds by the government, and Bank Indonesia (BI) efforts to maintain rupiah stability.
Another sentiment also came from the sale of motorcycles in June 2025 which fell 0.3 percent YoY, after in May 2025 it also fell 0.1 percent YoY, which was allegedly due to the weakening of people's purchasing power.
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In addition, investors are looking at the next development of the United States (US) tariff. This is because US President Donald Trump has threatened to provide an additional tariff of 10 percent starting August 1, 2025, to countries that support the policy of the BRICS alliance.
From the domestic side, investors will also look forward to the release of the consumer confidence index in June 2025. Plus, they are also looking forward to listing a number of IPO shares.
The stocks recommended by Phintraco Sekuritas today include PT Petrosea Tbk (PTRO), PT Barito Renewables Energy Tbk (BREN), PT Saratoga Investama Sedaya Tbk (SRTG), PT Astra International Tbk (ASII), PT Telkom Indonesia Tbk (TLKM), and PT Bank Rakyat Indonesia Tbk (BBRI).
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