JAKARTA - The movement of the Composite Stock Price Index (IHSG) is predicted to strengthen in today's trading, Tuesday, February 14 amid market expectations for data on the trade balance, BI7DRR interest rate and US inflation.
Yugen Bermbuh Sekuritas CEO William Surya Wijaya said that the JCI movement currently has the potential to experience a limited increase amid the upcoming release of economic data and the release of issuer performance data for the full year 2022.
"However, until now there has been no visible capital inflow flowing into our capital market, so the opportunity for short-term pressure is still open," he explained in a research publication.
According to William, the momentum of the correction can continue to be used to make purchases considering that it is still early in the year. Today, the JCI has the potential to consolidate in the range of 6.803 - 6.902.
The preferred stock recommendations are BBRI, BBCA, ITMG, BSDE, AKRA, LSIP, TBIG. Earlier on Monday, the JCI closed up 0.29 percent or 19.81 points to 6.900.14.
JCI had moved to reach its highest level of 6.915.14 during the trading session and occupied its lowest level of 6.871.88.
Indo Premier Sekuritas predicts that the JCI will strengthen this week due to a number of supporting sentiments, namely the trade balance, the BI Rate and US inflation. Equity Analyst Indo Premier Sekuritas Rifqi Satria Dinandra said the market strengthening this week was due to sentiment on the trade balance and the BI Rate and US inflation.
He explained that last December, the trade balance recorded a surplus of USD 3.89 billion and in January the consensus was that there would be a surplus of USD 3.26 billion.
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"Meanwhile, the BI rate which was raised by 25 bps last January to 5.75 percent, at this February meeting the consensus is that BI will hold its interest rate," he said in a written statement.
Regarding the positive sentiment on US inflation which will be announced on February 14 US time, so far the market consensus regarding inflation will fall again to 6.2 percent from the previous 6.5 percent.
"US inflation is one of the data that investors are waiting for to estimate the direction of The Fed's policy," he explained.
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