Bisnis.com, JAKARTA – The Composite Stock Price Index is predicted to be difficult to reach the 5,000 level on Monday (6/29/2020) trading. Nevertheless, there are still a number of prospective preferred shares.
The Composite Stock Price Index (CSPI) closed last weekend by rising 0.150 percent or 7.358 points to 4,904,088. Market capitalization was valued at Rp5,694.460 trillion.
The increasing factor of the second wave of Covid-19 cases in a number of countries has put pressure on global stock markets, including Indonesia. In addition, the International Monetary Fund (IMF) projections related to a much deeper recession in 2020 and slower recovery also contributed to negative sentiment.
The IMF predicts global gross domestic product (GDP) will shrink 4.9 percent this year or deeper than the 3 percent projection issued April 2020. Meanwhile, the IMF projects growth of only 5.4 percent in 2021 or down from the previous prediction of 5.8 percent .
The Director of PT Indosurya Bersinar Sekuritas conveyed that the JCI movement pattern still seems to be in the range of reasonable consolidation, while negative sentiments from global market movements that are under pressure also still overshadow the JCI movement.
Considering that the fundamentals of the Indonesian economy are still stable, reasonable correction momentum can still be utilized by investors to accumulate purchases with short-term targets.
Today, the IHSG is expected to move in the range of 4,789 – 4.971. Some of its preferred stocks are SMRA, CTRA, TLKM, BBNI, SCMA, SRIL, and AKRA.
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