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Mandiri Sekuritas projects JCI to hit 7,000 this year
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The Indonesia Stock Exchange trading floor. (JP/Wienda Parwitasari)
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ecurities firm Mandiri Sekuritas, a subsidiary of state-owned lender Bank Mandiri, has estimated that the Jakarta Composite Index (JCI) will hit by the end of 2019 a level of 7,000, which would be a 12 percent increase from last year’s position.
Tjandra Lienandjaja, research deputy head of Mandiri Sekuritas, said the food and beverage, consumer goods, banking, property and healthcare sectors had the potential to book higher earnings per share (EPS) in the stock market this year.
“It is because the risks in these sectors are more controllable than top commodities such as coal,” Tjandra told reporters in Jakarta recently.
However, he said the export of Indonesian commodities would still be on the decline this year due to ongoing global economic uncertainty.
Center of Reform on Economics (CORE) research head Mohammad Faisal expressed a similar opinion, saying that the price of commodities such as coal was getting weaker, contributing to the poor performance of exports.
Separately, CSA Research Institute analyst Reza Priyambada said companies in the food and beverage, consumer goods, banking, property and healthcare sectors were estimated to book positive EPS growth throughout the year due to high market capitalization.
He said that to boost EPS growth in these sectors, the companies needed to perform strong and produce positive sentiments in the stock market. (das/bbn)
