The three major Wall Street indices closed higher after Trump delayed the implementation of new tariffs. Trump signed a presidential memorandum to explore reciprocal tariffs against trading partner countries, but did not implement them immediately as the market feared after hinting at major trade policy changes this week. Trump also indicated additional tariffs, including on automotive imports. The delay in implementing these new tariffs has given the market hope that there is still time for countries to negotiate tariffs with the US. The January PPI index recorded a 0.4% increase, above the 0.3% estimate MoM. Meanwhile, the core PPI index stood at 0.3%, in line with expectations. At the same time, crude oil prices strengthened. Similarly, gold prices increased.

On Thursday, February 13, 2025, the JCI closed down by 0.48% at 6613. The transportation sector recorded the largest decline, while the property sector posted the largest gain. Foreign investors conducted net selling worth IDR 817.58 billion, including transactions in the non-regular market. Today, the JCI is expected to move within the support range of 6565/6530 and resistance range of 6660/6700. Stock picks: BBNI, BRIS, ASII, TLKM, JPFA.

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