1 day ago
17
February 20, 2025 | 11:55 am
TEMPO.CO, Jakarta - The Indonesia Composite Index (IHSG) on Wednesday, February 20, 2025, remained below the 6,906 level, with the greatest pressure coming from the financial sector. Kiwoom Sekuritas Capital Market analyst Oktavianus Audi noted that the index was struggling to break through the 20-day moving average (MA) resistance, while the Relative Strength Index (RSI) was starting to reverse and the Moving Average Convergence Divergence (MACD) indicated a weakening trend.
"Pressure on the IHSG today was driven by corrections in several large banking stocks. As of 10:39 AM, BBRI shares fell by 1.99 percent, while BBNI corrected by 1.55 percent," said Oktavianus when contacted on Thursday, February 20, 2025.
IHSG is estimated to close in the range of 6,760-6,770. If the index fails to hold above 6,770, there is potential for further decline with the next support at 6,725.
According to Audi, the domestic market is also influenced by global sentiment, especially after the Federal Reserve's statement about increasing inflation concerns. This is related to the tariff policy that will be implemented by former U.S. President Donald Trump, which is now once again a concern for global investors.
"Trump plans to raise tariffs by 25 percent for the automotive, semiconductor, and pharmaceutical sectors. This policy is at risk of triggering global economic uncertainty as well as increasing inflation pressure," said Oktavianus.
This uncertainty also drives investors to shift to safe-haven assets. The current world gold prices have soared above US$ 2,940 per troy ounce at 10:44 AM, indicating an increasing demand for the precious metal amid market volatility.
Amid global and domestic pressures, investors are advised to remain cautious about the potential further decline of the IHSG, especially if the index fails to maintain its critical support level.
Editor's Choice: 5 Things about Danantara: Origins, Purpose, and the Amount of its Capital
Click here to get the latest news updates from Tempo on Google News
Putin-Trump Meeting is Possible This Month but May Be Later, Kremlin Says
17 jam lalu
Trump would probably meet Putin this month and dismissed Ukraine's concern about being left out of U.S.-Russian talks in Saudi Arabia.
European Leaders Pledge Security for Ukraine as Trump Launches Talks with Russia
1 hari lalu
Europe declares readiness to ensure Ukraine's security amid the U.S. and Russia's plan to discuss the resolution of the war.
Govt Assigns Pegadaian, BSI as Bullion Banks, Airlangga: To Mitigate Future Risks
1 hari lalu
Coordinating Minister on Economic Affairs, Airlangga Hartarto, stated that the bullion bank will be launched on February 26, 2025.
Rupiah Closes Weaker at Rp16,278 per U.S. Dollar
1 hari lalu
Analysts predict that the depreciation of the rupiah at today's closing will continue tomorrow.
Indonesia's Bullion Banks Expected to Create 800,000 Jobs
1 hari lalu
Minister of State-Owned Enterprises Erick Thohir said the bullion bank or gold bank has the potential to increase the GDP by Rp 245 trillion.
Saudi Arabia's Crown Prince Meets U.S. Top Diplomat to Discuss Gaza Plans
1 hari lalu
The meeting between Saudi Arabia's Crown Prince and the U.S. Secretary of State took place ahead of the Russia-U.S. talks.
Speaking in Israel, US Senator: Trump's Gaza Plan Lacks Senate Support
2 hari lalu
Senator Lindsey Graham stated there is little desire for the US to take over Gaza as proposed by Trump, 'in any way or form.'
What Are Ukraine's Rare Earths and Why Does Trump Want Them?
2 hari lalu
President Volodymyr Zelenskiy is ready to make a deal with U.S. President Donald Trump to develop Ukraine's huge rare earth mineral deposits.
Trump Threatens to Send US Troops, Wants to Control 50 Percent of Ukraine's Minerals
2 hari lalu
Trump wants 50 percent of Ukraine's rare minerals to be controlled by the United States. He threatens to send troops to guard the minerals.
Trump's Immigration Policy Sparks Racism in U.S., Indonesian Citizen Says
2 hari lalu
An Indonesian citizen talks about the increasing racism in the U.S. after Donald Trump's policies. Asian immigrants are being targeted for violence.
