Phintraco Sekuritas forecasts that the Indonesia Composite Stock Price Index (IHSG) will remain under pressure throughout this week amid various negative factors continuing to weigh on market sentiment. The index is expected to move within a resistance level of 5,700, a pivot point of 5,600, and a support level of 5,500.

Despite these challenges, Phintraco Sekuritas believes there are still attractive investment opportunities available. The brokerage firm recommends five stocks that are considered capable of generating gains this week, particularly from the mining and gold sectors, including EMAS.

According to Phintraco Sekuritas, pressure on the domestic equity market stems from a combination of global and domestic factors. From the external side, major Wall Street indices closed significantly lower on Friday (June 5, 2026) following a broad sell-off in technology stocks, especially companies operating in the semiconductor industry.

In its research report released on Monday (June 8, 2026), Phintraco Sekuritas stated that negative sentiment was further strengthened by stronger-than-expected U.S. labor market data.

The firm explained that U.S. nonfarm payrolls (NFP) reached 172,000 in May 2026, substantially exceeding market expectations of 80,000. This development contributed to an increase in U.S. Treasury yields.

Furthermore, Phintraco Sekuritas believes that the stronger employment data reinforces expectations that the Federal Reserve will maintain elevated interest rates for a longer period.

At the same time, global gold prices declined by 2.2% to US$4,375 per troy ounce on Friday (June 5, 2026). Meanwhile, crude oil prices also moved lower, although market participants remain cautious regarding Iran’s threat to close the Bab el-Mandeb Strait should tensions in the Middle East continue to escalate.

Key Events to Watch

Phintraco Sekuritas added that global investors will closely monitor several important events this week. These include developments in the U.S.-Iran conflict, the upcoming OPEC+ meeting, and SpaceX’s planned initial public offering (IPO) on Nasdaq, which is expected to become one of the largest IPOs in global capital market history.

On the domestic front, investors are awaiting several important economic indicators. Key releases include Indonesia’s foreign exchange reserves for May 2026 on June 8, the May 2026 Consumer Confidence Index on June 10, and April 2026 retail sales data scheduled for publication on June 11.

In addition, Phintraco Sekuritas noted that the domestic market remains overshadowed by a number of concerns, including the weakening rupiah exchange rate, speculation surrounding a possible emergency Board of Governors Meeting by Bank Indonesia, and rumors regarding changes in the positions of the Finance Minister and the Governor of Bank Indonesia.

Further concerns include the possibility of Indonesia’s sovereign credit rating being downgraded by S&P and the risk of Indonesia’s capital market being reclassified as a frontier market by MSCI. Consequently, Phintraco Sekuritas expects the IHSG to remain volatile this week, moving within a support range of 5,400–5,500 and a resistance range of 5,700–5,800.

Although negative sentiment continues to dominate market conditions, Phintraco Sekuritas still recommends five stocks that are considered capable of delivering gains, namely PT Sumber Global Energy Tbk (EMAS), PT Merdeka Copper Gold Tbk (MDKA), PT Archi Indonesia Tbk (ARCI), PT Vale Indonesia Tbk (INCO), and PT J Resources Asia Pasifik Tbk (PSAB).