JCI On Friday Covered With Sentiments From Inside And Abroad, These Are Recommended Stocks

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) closed in the red zone in trading yesterday, Thursday, August 24. JCI fell 0.32 percent or 22.01 points to 6,899.39 until the end of trading.

Phintraco Sekuritas in his research said that external negative sentiment was offset by BI's decision to re-maintain the benchmark interest rate at 5.75 percent.

BI's decision shows BI's optimism for Indonesia's financial stability despite the tendency to increase bond yields in recent weeks. The Rupiah exchange rate also tends to find new equilibrium for now in the range of Rp. 15,300 per US dollar.

"The above conditions contain the strengthening of bank stock prices, especially large-capalyzed banks, so the JCI tends to move sideways like on Thursday, August 24", explained the research by Phintraco Sekuritas.

From external, market participants are looking forward to Jerome Powell's speech at the Jackson Hole Symposium on August 25, 2023 local time. The market expects instructions on the Fed's policy at FOMC September 2023 and the central bank's response to a decline in debt rating by a number of rating agencies.

Phintraco Sekuritas recommends stocks that can be considered this weekend, Friday, including ANTM, SMGR, INTP, TPIA, and speculative buy at KLBF and WIRG.