JAKARTA - The Composite Stock Price Index (JCI) is projected to be ready to test the level of 8,400 in this week's trading. Phintraco Sekuritas in its research said the index will move in the range of resistance 8,380, pivot 8,300, and support 8,250.
Phintraco Sekuritas explained that the Wall Street stock indices closed up on Friday, February 20, so that they posted an increase on a weekly basis.
The Supreme Court's decision to overturn President Trump's reciprocal tariffs was welcomed positively by investors because of expectations of relief for companies that have been burdened by tariff costs, as well as easing concerns about US inflation.
"Although it is not clear whether there will be a refund of the tariff that has been paid. Trump responded by announcing a new global tariff of 10 percent through an executive order and then stated that it would be raised to 15 percent," wrote Phintraco Sekuritas.
Meanwhile, Phintraco Sekuritas explained that US GDP data slowed to 1.4 percent in the fourth quarter of 2025 from 4.4 percent in the third quarter of 2025, and the lowest since the first quarter of 2025, due to the government shutdown.
"Meanwhile, the PCE prices index rose to 2.9 percent YoY in December 2025 from 2.8 percent in November 2025," explained Phintraco Sekuritas.
From the domestic market, Phintraco Securities said investors will pay attention to the steps of the Indonesian government following the cancellation of the reciprocal tariff, considering that Indonesia has signed an Agreement on Reciprocal Trade (ART) with the US.
"However, the agreement has not yet been effective because it still requires a ratification process in both countries. As long as the ratification law has not been approved by the DPR, Indonesia is not legally bound by the agreement," said Phintraco Sekuritas.
Phintraco Sekuritas assessed that this development has the potential to become a positive catalyst for the movement of the domestic stock market.
Phintraco Sekuritas added, additional positive sentiment came from the news that MSCI approved all of the proposals of the IDX and OJK. However, it is estimated that investors will continue to pay attention to the implications of the obligations of 267 issuers who must increase the free float from 7.5 percent to 15 percent.
"It is estimated that this week's JCI will move in the range of 8,250-8,380 levels. This week's JCI is expected to have the opportunity to test the level of 8,400 if it can be closed above 8,350," explained Phintraco Sekuritas.
Phintraco Sekuritas recommends six stocks for today, namely MYOR, ELSA, AKRA, SMGR, PYFA, and SMBR.
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