Weak Manufacturing Index Seen Overshadowing JCI Movement


The Jakarta Composite Index (JCI) on Tuesday (3/8) has the potential to move within the support range of 6,075 and resistance at 6,130.

Phintraco Sekuritas analyst Valdy Kurniawan said fundamentally, market players seem to have made a price-in for the decline in Indonesia's manufacturing index to the level of 40.1 in July 2021.

"In June 2020, the manufacturing index was at the level of 53.5. In addition, China's manufacturing index also declined to a level of 50.3 in July 2021, the previous month's manufacturing index was recorded at 51.3," according to his research in Jakarta.

Still related to economic data, Indonesia's inflation in July has recorded at 0.08% MoM and 1.52% YoY. This achievement is relatively higher than expected.

With the release of these economic data, Valdy advised investors to pay attention to stocks such as AALI, ICBP, INDF, MYOR, and KLBF.


Penulis : Widya