JCI in May is projected to weaken, these stocks can be glimpsed

Reporter: Kenia Intan | Editor: Tendi Mahadi

KONTAN.CO.ID – JAKARTA. Composite Stock Price Index (IHSG) lifted slightly throughout April 2021. According to Kontan.co.id, JCI rose 0.17% to the level of 5,995.61.

Just so you know, in trading at the end of March 2021, JCI closed at the level of 5,985.52.

Head of Research for Henan Putihrai Sekuritas, Robertus Yanuar Hardy, noted that the JCI tends to move sideways throughout April 2021, it was influenced by the outflow of global or foreign investor funds back to developed countries such as the United States (US).

Also Read: A slight gain of 0.17% in April, see JCI projection in May 2021

“Following the Fed’s statement that there won’t be tapering or a reduction in bond purchases in the near future, “he told Kontan.co.id, Friday (30/4).

Further explained, the movement of the JCI in April 2021 which sideways This is still in accordance with his estimates. He said the new index would improve in the third and fourth quarters with a target of testing the 6,500 to 6,600 levels by the end of the year.

As for the month of May 2021, the JCI is expected to continue sideways tends to weaken. JCI is predicted to move in the range of the level of 5,850 to 6,100

According to him, foreign investor funds will still go out to developed countries following the mega stimulus and mega infrastructure plans of US President, Joe Biden. In addition, there is uncertainty over the execution of SWF and IPO unicorn in the domestic market also slowed down the index rate.

Also Read: Affected by the 5G frequency auction sentiment, this is the recommendation for TLKM, FREN, EXCL & ISAT shares

These sentiments will dominate the JCI movement in May, so the release of economic data in the first quarter of 2021 will not have a significant impact on the JCI. The lack of transactions ahead of the Eid al-Fitr momentum has further strengthened the movement of share prices sideways tend to be negative.