JAKARTA - The Composite Stock Price Index (JCI) is projected to rise again this week. Phintraco Sekuritas in its research predicts that the index will move in the range of resistance 9,200, pivot 9,100, and support 9,000.
Phintraco Sekuritas explained that Wall Street stock indices closed weaker on Friday, January 16 and last week. Negative sentiment comes from uncertainty about the Fed and geopolitical developments.
US President Donald Trump has hinted that he will retain economic adviser Kevin Hassett rather than making him the next Fed chairman, raising the possibility that Fed Governor Kevin Warsh is the leading candidate to replace Jerome Powell.
"Trump will impose tariffs on 8 NATO members until a deal is reached on the purchase of Greenland on January 17. The tariffs imposed are 10 percent starting February 1, 2026 and 25 percent starting June 1, 2026," wrote Phintraco Sekuritas, quoted Monday, January 19.
Phintraco Sekuritas added that trading on Wall Street will close today due to Martin Luther King Jr Day. This week, investors will pay attention to the continuation of the earnings season and US economic data, such as PCE prices and GDP in the third quarter of 2025. In addition, data on PMI in the Euro Area, the UK and Japan will be released.
In Asia, investors will look at the fourth-quarter GDP data from China and the monetary policy of the Bank of Japan. China and Canada reached a trade agreement by lowering tariffs on some products starting March 1, 2026.
From the domestic front, Phintraco Sekuritas explained, investors will look forward to the BI RDG of January 20-21, which is expected to maintain the BI Rate at 4.75 percent level due to the still weak Rupiah. In addition, data on credit growth in December 2025 will be released, which is expected to slow to 7.6 percent YoY from 7.74 percent YoY.
"Technically, the MACD and Stochastic RSI indicators support the continued strengthening of the JCI. So this week's JCI has the opportunity to test the level of 9,100-9,200," added Phintraco Securities.
Phintraco Sekuritas recommends six stocks today, namely BFIN, ISAT, CDIA, MAPI, TLKM and SIDO.
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