JAKARTA - The Composite Stock Price Index (JCI) is predicted to have the potential to continue correcting in today's trading, Friday, January 23, after yesterday weakened 0.2 percent to 8,992.1.
Shares of the non-primary consumer goods sector posted the largest gain, while the energy sector recorded the largest correction.
The majority of Asian stock exchange indices closed higher on Thursday, January 22, as tensions between the US and Europe eased after President Trump stated that he would not impose a 10 percent tariff on Europe on February 1, 2026, nor would he use violence to control Greenland.
Indices on European exchanges also opened stronger after President Trump announced that he had reached a framework agreement on Greenland. The Danish Prime Minister said he was ready to hold talks with Trump regarding the Golden Dome missile defense.
Phintraco Sekuritas in its research explained that this was a positive factor and had encouraged the rebound of the JCI, but technically the JCI was still closed below the MA5 and MACD had the potential to form a Death Cross.
"So it is estimated that the JCI has the potential to continue the correction by testing the support level at 8,850-8,950," wrote Phintraco Sekuritas.
In addition, the rupiah in the spot market closed at a stronger level of Rp16,885 per US dollar in yesterday's Thursday trading. Although the US dollar index strengthened, most Asian currencies tended to move up.
The decision of the Board of Governors Meeting (RDG) to maintain the BI Rate, as well as the BI statement that it will not hesitate to intervene against the rupiah, are factors that have contributed to the strengthening of the rupiah. From the domestic side, data on M2 Money Supply for December 2025 will be released, Friday, January 23.
Phintraco Sekuritas explained that investors will pay attention to Japan's December 2025 inflation data, which is expected to slow to 2.7 percent YoY from 2.9 percent YoY in November 2025.
Investors are also looking forward to the Bank of Japan (BoJ) meeting, which is expected to still keep interest rates at 0.75 percent, today. Meanwhile, from the UK, retail sales and S&P global manufacturing and services PMI flash will be released. From the US, the manufacturing and services index will be released, as well as the Michigan Consumer Sentiment Final January 2026.
The stocks recommended by Phintraco Sekuritas today are ISAT, KLBF, TLKM, AALI and ASRI.
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