JAKARTA - The Composite Stock Price Index (JCI) is projected to strengthen again in today's trading, Thursday, July 24, after yesterday managed to rise and rose 1.70 percent to the level of 7,469.
In his research, Phintraco Sekuritas assessed that the strengthening occurred thanks to the agreement on the import rate of Japanese products to the United States (US) which was successfully reduced to 15 percent.
After reaching this agreement with Japan, the US will carry out further negotiations with the European Union and raise the hope that investors will de-escalate the trade war.
"De-escalation of the trade war is a positive factor, along with reduced anxiety about rising inflation rates in the US as well as hopes for a reduction in the Fed (US central bank) interest rate this year," explained Phintraco Sekuritas.
As for technically according to Phintraco Sekuritas, several indicators show that it is still open for the JCI to continue strengthening and testing the psychological level at 7,500 in trading this Thursday.
Investors will also look forward to the European Central Bank (ECB) meeting on Thursday which is expected to maintain the benchmark interest rate at the level of 2.15 percent, amid rising inflation potential and uncertainties due to US import rates.
BACA JUGA:
From Germany, investors will be watching the HCOB Manufacturing Flash in July which is expected to rise slightly at the level of 49.4 from 49 in June 2025, although it is still in the contraction area. Meanwhile, the S&P Global Manufacturing PMI Flash index in July 2025 will be released which is expected to rise slightly at level 48 from 47.7 in June 2025.
"The US will also release the S&P Global Manufacturing PMI Flash index in July which is expected to drop slightly to 52.5 from 52.9 in June 2025,"
The stocks recommended by Phintraco Sekuritas are PT TBS Energi Utama Tbk (TOBA), PT Panin Financial Tbk (PNLF), PT Semen Baturaja Tbk (SMBR), PT Medco Energi Internasional Tbk (MEDC), and PT Pertamina Geothermal Energy Tbk (PGEO).
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