JCI At The Beginning Of The Week Opened Up 0.24 Percent To 4,518.54

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (JCI) opened higher at the opening of trading earlier this week. On Monday, May 18, the JCI opened up 0.24 percent or 10.93 points to 4,518.54 levels.

Opening the trade, 54 stocks rose, 15 stocks fell, and 70 stocks were stagnant. Trading volume was recorded at 41.52 million shares and transacted for IDR 22.92 billion.

Reliance Sekuritas Indonesia analyst Lanjar Nafi stated, JCI today will be able to strengthen on a technical basis with support and resistance areas at 4,475 to 4,660 levels.

"Domestically, this week there will be a Bank Indonesia policy on interest rates and loan growth data," said Lanjar in his research.

As is well known, BI will announce interest rates and monetary policy in a meeting of the board of governors (RDG). This policy is awaited because it is expected to have an impact on economic recovery due to the corona pandemic.

Meanwhile, from abroad, according to him, investors will pay close attention to the tension between the United States and China. This was initially triggered by accusations by US President Donald Trump regarding the emergence of the corona virus in China.

Tensions have escalated after over the weekend, the US reportedly blocked software and chips for Chinese tech giant Huawei.

If the blockage continues, China will retaliate by creating a "list of unreliable entities", limiting or investigating US companies such as Qualcomm, Cisco and Apple, and suspending purchases of Boeing aircraft, according to Chinese government-affiliated media Global Times.

With this sentiment, Lanjar also recommended a number of stocks to be watched by investors in trading earlier this week, including PT Ace Hardware Indonesia Tbk (ACES), PT Bumi Serpong Damai Tbk (BSDE), PT Hanjaya Mandala Sampoerna Tbk (HMSP), PT Gudang Garam. Tbk (GGRM), PT Media Citra Nusantara Tbk (MNCN) and PT Telekomunikasi Indonesia Tbk (Persero) Tbk (TLKM).