Issuer Performance Release Is Predicted To Drive JCI Strengthening Today

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) has the opportunity to strengthen in today's trading, Thursday, August 11, in line with the inflow of foreign funds and the release of issuers' performance.

Yugen Bertumbuh Sekuritas CEO William Surya Wijaya said that the JCI still looks like it will test its all-time high level again. The issuer's performance report will still be one of the factors driving the increase in the JCI for some time to come.

"Coupled with the visible capital inflow into the Indonesian capital market," he said in a research publication.

In trading on Wednesday, August 10, foreign investors recorded a net buy of IDR 312.34 billion in the stock market. Foreign net buys throughout 2022 reached IDR 58.91 trillion.

William predicts that today the JCI has the potential to strengthen in the range of 6,988-7,147. The recommended stock options are UNVR, BBCA, KLBF, KAEF, HMSP, GGRM, ASRI, PWON, BINA.

Meanwhile, Panin Sekuritas analyst Christian Anderson Yuwono assessed that the global sentiment driving the index was the market's anticipation of the release of inflation data in the US. Meanwhile, sentiment in Asia came from the increase in coal demand from China.

"This increase is due to an increase in the production of steam power plants (PLTU) to meet peak summer demand," said Christian.

According to him, JCI has the potential to test support at 7,010, with resistance at 7,135 in today's trading. He also recommended investors to monitor the shares of BBCA, BBRI, BBNI, CTRA, BSDE.