Indonesian students from a number of universities are suing the revision of Corruption Eradication Commission (CEC) Law to the Constitutional Court on Wednesday (09/18) - Photo: Privacy

JAKARTA (TheInsiderStories) – Good Morning! Anti-graft law effective today even without Indonesian President Joko Widodo’ signature. The law will automatically take effect 30 days after it was passed by parliament on Sept. 17.

This provision is stated in Law Number 12 of 2011 concerning Formation of Regulations and Regulations, precisely in Article 73 paragraph 1 and paragraph 2. Along with the enactment of the Act, today thousands of students will hold a demonstration in front of the State Palace.

In this action the students demanded Widodo to sign a government lieu of law to replace the Corruption Eradication Commission Law. While, Widodo did not any comment on the students demand. 

In the national working meeting, chairman of Gerindra Party Prabowo Subianto admitted has sent his party program on food, energy, defense and security to president. He also stated would convey the decision to join or not with the government coalition with incumbent coalition together with Widodo.

While, his ex-partner in 2019 presidential election, Sandiaga Salahuddin Uno return to Gerindra. He will hold the the old position as vice chairman of the party.

From United States (US), President Donald Trump said a trade deal with China probably will not be signed until he meets with Chinese President Xi Jinping at the APEC summit in Chile, next month. He also stated that China has started buying American products from the farmers.

In Asia, Washington sent a number of high officials to Turkey to hold an emergency meeting to persuade Ankara to stop the attack on northern Syria. The move was took by Trump after Russian troops moved quickly into the territory abandoned by US forces.

Yesterday, Robert O’Brien, the White House national security adviser has arrived in Turkey with the aim of meeting with Foreign Minister Mevlut Cavusoglu. While vice president Mike Pence and security of state Mike Pompeo are scheduled to meet President Tayyip Erdogan today. US is trying to withstand the impact of Erdogan’ decision to send his troops last week to attack Kurdish Syrian militias who are close allies of Washington.

On Wednesday, crude oil price slid below the level of US$53 per barrel after a report showed an increase in the amount of supply of this commodity by more than 10 million barrels. The report dimmed market optimism after signs that the trade war between the US and China might be nearly over.

This morning, price of West Texas Intermediate (WTI) crude for November 2019 contract fell 1.07 percent to $52.79 per barrel. Inline with WTI, Brent oil for the December 2019 contract also fell 0.86 percent to $58.91 a barrel, after closing 1.16 percent at US $ 59.42 on Wednesday.

In Indonesia, National car sales dropped 12.04 percent compared to the same period in 2018. Based on the Association of Indonesian Automotive Industries data, the automotive sales in the January-September period were 753,594 units from last year were 856,755 units.

Yesterday, Indonesian Rupiah closed down 0.33 percent to 14,187 against the Greenback. While, the Jakarta Composite Index (JCI) rose 0.19 percent to 6,169.59.

Some analyst rated the corrections to the local currency could continue today cause investors still wait and see on the cabinet structure of Joko Widodo and Ma’ruf Amin. In addition, the development of US and China trade wars and Brexit also still affected the Rupiah and stock index.

For today, a number of brokers recommended PT Indofood CBP Makmur (IDX: ICBP), PT Indomobil Sukses Makmur Tbk (IDX: IMAS), PT Surya Esa Perkasa Tbk (IDX: ESSA), PT Waskita Karya Tbk (IDX: WSKT), PT Bank Raktyat Indonesia Tbk (IDX: BBRI), PT Indofood Sukses Makmur Tbk (IDX: INDF), PT Mitra Adi Perkasa Tbk (IDX: MAPI), and PT Ace Hardware Indonesia Tbk (IDX: ACES).

May you have a profitable day!

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