The Composite Stock Price Index, or IHSG, is making headlines again. Today, experts predict that it will strengthen slightly in today’s trading session. After closing last week at 7,195, it saw a rise of 54.65 points, marking a growth of 0.77 percent. Investors are keeping a close eye on these developments.
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At the recent COP29 in Azerbaijan, significant commitments were made. Almost 200 countries agreed to double their funds. This financial aid aims to assist developing nations dealing with climate change, following a long debate. The stakes are high, as a 1.5 degree Celsius increase in global temperatures could spell disaster.
Interestingly, speeches from global leaders echoed a challenging reality. They underscored that rich countries are poised to allocate at least 300 billion dollars each year by 2035. This funding will come through various channels, including public sector funding and multilateral agreements. The hope is that this will mitigate some of the most severe impacts of climate change, although perspectives vary and every dollar counts.
Turning our attention to domestic news, consumer credit growth is notable. Bank Indonesia recently reported a 10.8 percent annual increase in consumer credit. In October 2024 alone, total distribution reached IDR 2,171.7 trillion, representing growth from IDR 2,149.6 trillion in the previous month. Supporting this increase is the Home Ownership Credit, which saw a growth rate of the same 10.8 percent.
As these positive indicators circulate, one cannot ignore the technical analysis. Maximilianus Nico Demus, the Research and Investment Director at Pilarmas Investindo Sekuritas, shared insights that piqued interest. He suggested that the JCI has the potential for limited strengthening and identifies support and resistance levels between 7,100 and 7,225.
Given these projections, many investors are left wondering: where do we go from here? So what does this mean for the average investor? Should one be cautious or bold? On one hand, the global climate agenda opens many avenues for investment, while on the other hand, volatility in the market can send ripples through even the most resilient portfolios.
With that in mind, could this be the right moment to reassess your investment strategy?
