Statistic Indonesia' Office at Central Jakarta

JAKARTA (TheInsiderStories)  – Good Morning! Today, Statistic Indonesia will release the latest data of the country’ trade balance in October. In September, the largest economy in Southeast Asia posted a trade deficit US$160 million.

Some analysts estimating during last month, Indonesia’ trade balance will deficit again around $300 million. They estimates exports to experience a contraction 9.03 percent and imports were also forecast drops 16.02 percent in annual basis.

On the same day, President Joko Widodo is scheduled to inaugurate the Trans Sumatra toll road for the Terbangi Besar – Pematang Siantar – Kayu Agung section, which is the longest toll road in Indonesia. This toll road has a length of 189 kilometers.

From the stock market, Singapore’ Overseas Chinese Banking Corp., aborted its planned to acquire PT Bank Permata Tbk (IDX: BNLI) owned by British’ Standard Chartered Plc and publicly listed firm, PT Astra International Tbk (IDX: ASII). After conducting due diligence or due diligence, the OCBC concluded that the local lender was not included in their criteria.

On Nov. 4, Financial Service Agency admitted that the two existing shareholders aimed to release their ownerships in Bank Permata. In total, both hold 89.2 percent or 12.49 billion shares at the medium lender. The remaining 3.04 billion shares or 10.88 percent are still owned by public

Other lender, PT Bank Negara Indonesia Tbk (IDX: BBNI) announced has get a syndicated loan facility from a number of foreign banks with a value of US$750 million. The funds will use to boost their business expansion especially in US Dollar terms.

From Europe, the European Commission has sent a letter of formal notice to the United Kingdom (UK) for breaching its the organization treaty obligations by not suggesting a candidate for the post of commissioner until Nov. 22 at the latest to provide their views. On Nov. 13 two letters sent by President-elect Ursula von der Leyen recalling the UK’ obligations under the EU Treaty.

The UK authorities consider that they are not in a position to suggest a candidate for the post of EU Commissioner in view of the upcoming general election. Boris Johnson is invited to submit its observations on the letter of formal notice at the latest by Nov. 22.

From Germany, the statistics bureau announced the gross domestic product grew 0.1 percent on quarter-on-quarter (QoQ) in the third quarter of 2019. In the second quarter of 2019, the country’ GDP contracted 0.1 percent.

In Asia, Japan reported slowing economic growth, as did a disappointing set of data from China. Japan’ economic growth in the third quarter of 2019 was recorded at 0.2 percent, slower than the previous quarter which was able to grow 1.8 percent and become the weakest growth rate since the third quarter-2018.

From China, the country reported the industrial production in October only grew by 4.7 percent on annual basis (YoY), down from 5.8 percent in the previous month. Retail sales also fared similarly, growing 7.2 percent YoY, lower than September’ 7.8 percent YoY.

While China‘ fixed asset investment in the January-October 2019 period grew 5.2 percent compared to the same period the previous year. This growth was lower than the January – September period of 5.4 percent.

On Thursday, Indonesian Rupiah slightly strengthened to 14,080 over the Greenback or rose 0.02 percent. And the Jakarta Composited closed down 0.71 percent at 6,098.95 compared to previous day.

For today the domestic foreign exchange and the composite index is estimating still under pressure and will move in the red zone. Rupiah is expecting move in the range 14,010 to 14,125 compared to US Dollar and JCI between 6,085 – 6,125.

The shares that are still quite interesting to collect are PT Jasa Marga Tbk (IDX: JSMR), PT Wika Beton (IDX: WTON), PT Tower Bersama Infrastructure Tbk (IDX: TBIG), PT Aneka Tambang Tbk (IDX: ANTM), PT PP Tbk (IDX: PTPP), PT Wijaya Karya Tbk (IDX: WIKA), PT Surya Eka Perkasa Tbk (IDX: ESSA), PT Bank Negara Indonesi Tbk (IDX: BBNI), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Bank Tabungan Negara Tbk (IDX: BBTN), and PT Bumi Serpong Damai Tbk (IDX: BSDE).

May you have a profitable day!

Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia