JCI Faces Potential Pullback, Phintraco Highlights Five Promising Stocks Including TLKM

Indonesia’s benchmark index, the Jakarta Composite Index (JCI), is projected to face a potential technical pullback on Friday (April 11, 2025), as investors remain cautious amid persistent global uncertainties and mixed trade signals from the United States.

According to Phintraco Sekuritas' daily research note, the JCI is expected to move within a resistance range of 6,500, pivot at 6,250, and support level at 5,970.

“While the index did rebound yesterday, it has yet to close the earlier downside gap, signaling lingering market hesitation,” stated Phintraco in its Friday (April 11) release.

The JCI rebounded by 4.79% to 6,254 on Thursday (April 10), recovering partially from a sharp sell-off seen on April 8. However, the rebound fell short of breaching the technical gap target at 6,270.

Phintraco attributes investor skepticism to the unpredictable nature of U.S. President Donald Trump’s trade policies, as well as the lack of tangible outcomes from ongoing trade negotiations between Indonesia and the United States.

“Market participants are also increasingly concerned over the intensifying trade war between the U.S. and China, which appears more impactful than the previous Trade War 1.0,” Phintraco noted.

On the tariff front, China has yet to express willingness to enter negotiations, despite repeated hints from Washington. This lack of progress raises concerns for Indonesia, particularly in the form of potential export slowdowns and a flood of Chinese imports entering the domestic market.

Despite the broader uncertainties, Phintraco Sekuritas recommends five stocks seen as having strong upside potential: TLKM, UNVR, SCMA, JPFA, and KLBF.