JAKARTA - The Composite Stock Price Index (JCI) is predicted to weaken and test the level of 6,900, in today's trading, Tuesday, April 7, after yesterday closed 0.53 percent lower to 6,989.4.
The JCI yesterday moved weaker since the beginning of trading which was triggered by the continued rise in crude oil prices due to the ongoing conflict in the Middle East.
President Trump issued a threat to attack Iranian power plants and infrastructure starting this Tuesday if Iran does not fully open the shipping lanes in the Strait of Hormuz.
However, Iran rejected the ultimatum and stated that the Strait of Hormuz would be fully reopened if it was compensated for the damage caused by the war.
But separately, President Trump expressed hope for an opportunity to reach an agreement on Monday, April 6. Global investors are in an uncertain position between expecting an agreement that ends the war and a significant escalation that keeps crude oil prices rising.
"Technically, it is estimated that the JCI will still test the level of 6,900," wrote Phintraco Sekuritas.
Adding to the negative sentiment, the announcement of several stocks that were included in the list of stocks with high concentration ownership as of March 2026, including stocks with large market capitalizations, also weighed on the index's weakness.
This is because investors are concerned that these stocks may be removed from the MSCI index in the upcoming May 2026 rebalancing. However, in the medium and long term, it is expected that this will be a positive factor because it provides investors with an understanding of a particular stock.
The stocks recommended by Phintraco Sekuritas today are RAJA, RATU, DOOH, PSAB and HRTA.
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