JCI Is Expected To Continue Weakening On Weekend, Check Out Stock Recommendations

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is projected to continue weakening in today's trading, Friday, December 12, after yesterday closing in the red zone after the Fed cut interest rates. JCI corrected 0.92 percent or cut 80.44 points to 8,620.48 at the close of trading, Thursday 11 December.

Phintraco Sekuritas in his research said that the weakening of the JCI was caused by sell on news after the Fed lowered interest rates by 25 basis points (bps) as expected.

However, the Fed's forecast has the potential to only lower interest rates once in 2026, disappointing market expectations. This is because the market previously expected a two-three-time drop in interest rates by 2026.

Entering the PT Super Bank Indonesia Tbk (SUPA) IPO public offering period which is of great interest to investors, it is alleged that it also encourages profit taking. This is because investors need liquidity to participate in the IPO," explained Phintraco Sekuritas.

Technically, MACD formed a dead cross indicating the potential for weakening the index is still continuing. Thus, it is estimated that the JCI correction has the potential to continue on today's trading and test support levels in the range of 8,550-8,600.

Meanwhile, the heating up of border clashes between Thailand and Cambodia is also a negative factor, because it has the potential to increase geopolitical risks in the ASEAN region. Furthermore, investors will also look forward to the meeting of the Board of Governors (RDG) of Bank Indonesia next week.

"Investors will pay close attention to the movement of the rupiah, whether it will be able to make Bank Indonesia (BI) again lower interest rates at the last meeting this year," explained Phintraco Sekuritas.

The stocks recommended by Phintraco Sekuritas today are SMGR, INTP, RATU, PYFA, and PTRO.