KONTAN.CO.ID – JAKARTA. The IDX Composite (IHSG) has the potential to strengthen slightly in the support area of 7,288 and resistance of 7,355 on Monday (18/3). The JCI weakened by 1.42% or 105.26 points to the level of 7,328.05 on Friday (15/3). MNC Securities analyst Herditya Wicaksana said the market is awaiting the release of China's industrial data. In addition, he said the market is also observing the yield of the US Treasury 10-year which has been strengthening for two days. Muhammad Nafan Aji, an analyst at Mirae Asset Securities, added that the market is also awaiting the determination of the Fed Funds Rate (FFR) as well as the March dot plot. In addition, the market is also awaiting the Bank Indonesia Board of Governors Meeting (RDG BI) to determine the BI rate.
Baca Juga: Indonesian Stock Exchange Composite Index Falls 0.55% in the Week Phintraco Securities analyst Alrich Paskalis Tambolang stated the JCI has the potential to consolidate in the support area of 7,300-7,340 on Monday (18/3). Alrich said the realization of the trade balance in February 2024, which fell significantly to US$ 0.87 billion from previously US$ 2.01 billion, was influenced by export data that fell by 9.45%. Meanwhile, imports grew significantly by 15.84% from previously 0.36% in January 2024. "This week there is a decision on the benchmark interest rate by Bank Indonesia which is expected to remain at the level of 6%," Alrich told Kontan.co.id, Friday (15/3). Alrich added global investors are also waiting for China's retail sales data which is expected to grow 5.2% YoY in January-February 2024 from previously 7.4% in December 2023. The consensus still represents market confidence in the increase in retail sales for 12 consecutive months.
