Tuesday, August 29, 2023, 08:52 AM WIB.
Pediafx.com – reports that on Monday (August 28, 2023), the Indonesian stock market index (IHSG) closed higher by 0.38 percent or 26.28 points at the level of 6,921.72.
Financial expert Ratih Mustikoningsih from Ajaib Sekuritas predicts that today IHSG will move mixed with a tendency to weaken within the range of 6,870 to 6,950.
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The article mentions that several factors may influence the movement of IHSG today. In terms of domestic factors, the 10th ASEAN Finance Ministers and Central Bank Governors (AFMGM) meeting took place, where finance ministers and central bank governors discussed important points to maintain economic stability. These points include the post-pandemic economic recovery and rebuilding process, digital economy, and sustainability issues. On the other hand, the Indonesian rupiah experienced depreciation, with the Jisdor exchange rate at Rp 15,294 per US dollar, a depreciation of 1.17 percent month-to-date as of August 28, 2023. This condition is in line with the volatility in global financial markets.
From abroad, it continues, the money supply (M3) in the European region corrected by -0.4 percent year-on-year (yoy) to EUR15.6 trillion in July 2023, lower than the previous month’s growth of 0.6 percent yoy.
Bank lending to the household segment grew by 1.3 percent YoY to reach EUR6.86 trillion, following a growth of 1.7 percent YoY in the previous month.
Credit disbursed to the corporate sector grew by 2.2 percent YoY, reaching EUR5.15 trillion, which was slower than the previous month’s growth of 3 percent YoY.
In Asia, Japan’s main economic index in June 2023 declined to a level of 108.9 from the previous month’s level of 109.1.
These results reflect a correction in manufacturing and service sector activities.
The recommended stock by Ajaib Sekuritas is BRMS.
Buy: 200
Target Price (TP): 206
Stop Loss: <195>
Currently, the movement of BRMS stock is in a bullish trend and has tested the golden ratio Fibonacci level of 0.618. The price is currently solidly above the three moving averages (MA-5, MA-20, and MA-50).
