JAKARTA - The Composite Stock Price Index (IHSG) is predicted to consolidate in today's trading, Monday, January 26, after closing down 0.46 percent to 8,951 on Friday, January 23.
Phintraco Sekuritas in its research revealed that the weakening of the JCI was triggered by the anticipation of the implementation of the MSCI methodology for calculating the free float of Indonesian shares which is feared to have an impact on selling pressure by foreign investors, especially on shares that are majority owned by institutions or conglomerates.
Even so, several stocks were seen closing rebounding and strengthening so that the weakening of the JCI was reduced.
Meanwhile, LPS decided to maintain the Interest Rate Guarantee (TBP) for rupiah deposits at commercial banks at the level of 3.5 percent. For the TBP for rupiah deposits at BPR at the level of 6 percent and the TBP for foreign exchange deposits at commercial banks at the level of 2 percent. This interest rate is valid from February 1, 2026 to May 31, 2026.
Phintraco Sekuritas explained technically, selling pressure on several large-cap stocks has pushed the MACD IHSG indicator to experience a Death Cross. Stochastic RSI is heading to the oversold area.
The JCI closed below the MA5, but is still above the MA20 and MA50 levels, after having broken through the MA20 level in intraday trading.
"So it is estimated that the JCI will consolidate in the range of 8,850-9,050, before determining the next direction. If the JCI is able to close above the level of 9,050, it has the potential to continue the rebound," explained Phintaco Securities.
The majority of Asian stock exchange indices closed higher on Friday, January 23, in line with the Bank of Japan's decision to maintain the benchmark interest rate at 0.75% ahead of the mid-term elections on February 8, 2026.
The yield of Japanese government bonds with a tenor of 40 years fell 4 bps to 3.95%, but bonds with shorter tenors increased.
HSBC expects the Bank of Japan (BoJ) to raise interest rates by 25 bps in July 2026, but if the Japanese Yen continues to weaken there could be more interest rate hikes at a faster pace.
The Bank of Japan (BoJ) raised its forecast for Japanese economic growth to 0.9% for fiscal year 2025 and 1% for fiscal year 2026 from the previous forecasts of 0.7% each.
The stocks recommended by Phintraco Sekuritas today include BSDE, CTRA, BRIS, ULTJ, DKFT and MAPA.
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