Jakarta, CNBC Indonesia – The domestic stock market corrected again on Wednesday (23/6/2021) in line with the massive selling action of foreign market players and the fall of the Dow Jones index (DJIA) on the US Wall Street exchange.
The Composite Stock Price Index (JCI) closed down by 0.88% to 6,034.54 points with a transaction value of Rp 11.82 trillion. Foreign market participants recorded net sales of Rp 432.80 billion.
The most traded shares include PT Bank Central Asia Tbk (BBCA), PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Jago Tbk (ARTO), PT Telkom Indonesia Tbk (TLKM), to PT Smartfren Telecom Tbk ( FREN).
Before starting trading on Thursday (24/6/2021), consider the recommendations for selected stocks as summarized by CNBC Indonesia:
MNC Asset Management – Continued Selling
This Thursday continued selling is expected in the domestic stock market. This happened in line with the fall of the DJIA Index by -0.21% amid the depreciation of the rupiah. Other sentiments include the rising number of Covid-19 victims to new highs, and the possibility of rising prices following the increase in WTI crude oil prices to the highest level for 2.5 years since the end of 2018 due to tightening oil supply.
Preferred stock:
ARTG
TLKM
TOWR
THAT
Reliance Sekuritas – Manufacturing Starts Up
Data showed US manufacturing activity expanded in June at the fastest pace on record since 2007. Meanwhile, new home sales unexpectedly fell last month as rising home prices continued to weigh on affordability.
The report comes a day after Fed Chair, US central bank Jerome Powell reiterated his view that policymakers will patiently wait to raise interest rates despite higher inflation.
Preferred stock:
ASII
BBRI
MDKA
AALI
Samuel Sekuritas – JCI likely to weaken
The JCI is estimated to have the potential to weaken in line with the ongoing pressure on the banking sector as well as sell-off that happened yesterday. In addition, Indonesia’s new record of daily Covid-19 cases recorded yesterday may also be a pressure factor for the economy and the stock market.
Preferred stock:
BBCA
ICBP
HEAL
WMUU
Indosurya Shines Sekuritas – Economy Still Slows
The JCI is still heavily influenced by the slowdown in the economy, which continues to cling to the real sector, so that the performance of issuers which is allegedly not able to improve quickly. Plus, with the lack of sentiment and it hasn’t arrived yet capital inflow which entered the capital market significantly, so that the range of consolidation will not be left by the JCI, the potential for decline is seen as greater than the desire to rise, the JCI has the potential to weaken
Preferred stock:
ADHI
UNVR
SMRA
ICBP
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