JAKARTA - The Composite Stock Price Index (JCI) is projected to move weaker in today's trading, Thursday, December 18, after yesterday closed down slightly 0.11 percent to 8,677.34.
Kiwoom Sekuritas Indonesia in its research assessed that the weakening occurred in line with technical signals that began to weaken, reflected by the MACD indicator which showed a declining trend and RSI which began to decline.
"JCI pressure is influenced by a number of domestic and global sentiments," explained Kiwoom Securities.
The pressure includes the decision of Bank Indonesia to hold the benchmark interest rate at the level of 4.75 percent, the weakening of the rupiah exchange rate to the level of Rp16,683 per US dollar, and the net selling action of foreign investors which reached Rp470 billion across the market.
"For Thursday's trading, the JCI will move mixed with a tendency to weaken in the support range of 8,635 and resistance of 8,735," explained Kiwoom Securities.
Market sentiment will still be influenced by the release of the United States inflation data for the period of November 2025 which is estimated to grow 3 percent on an annual basis, as well as concerns about the continued weakening of the rupiah.
"The weakening of the JCI is still influenced by a combination of interest rate sentiment, rupiah exchange rate pressure, and quite significant foreign selling. In the short term, the market tends to be cautious in anticipation of the release of US inflation data," explained Kiwoom Securities.
Kiwoom recommends buying DEWA with support at Rp500 and resistance at Rp670, and ADMR with support at Rp1,350 and resistance at Rp1,590.
Meanwhile, MNC Sekuritas in its research said HSG was still vulnerable to continuing corrections, in line with global sentiment from the release of US inflation data. He projected the JCI to move with a support level at 8,635 and resistance at 8,709.
In the midst of this condition, MNC Sekuritas recommends investors to pay attention to a number of stocks, including PT Aneka Tambang Tbk (ANTM) in the range of Rp3,140-Rp3,280, PT Bank Rakyat Indonesia Tbk (BBRI) in the range of Rp3,820-Rp3,860, and PT Triputra Agro Persada Tbk (TAPG) at the level of Rp1,565-Rp1,615.
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