JAKARTA (TheInsiderStories) – Good Morning! The Jakarta province prepared three options to face the COVID-19 outbreak before the second phase transitional of large-scale social restrictions will end on July 30. The deputy governor, Riza Patria, said the first option is to lift the COVID-19 health restrictions, third transitional period or return to a full restriction if the situation is worsening.
Recently, the COVID-19 task force named Jakarta as a high-risk zone followed the rises of positive cases number in a week. The team has asked the Jakarta regional government to pay serious attention on this condition. Last week the cases in the capital city had increased quite dramatically from the previous week form 1,880 to 2,679 cases.
From Europe, the upper house of the Italian parliament approved the request of Prime Minister Giuseppe Conte to extend the state of emergency until Oct. 15. Italy currently records 246,500 cases with a mortality rate of more than 35,000 and become one of the countries worst affected by the pandemic in Europe.
In Asia, North Korea introduced tougher prevention measures against the pandemic after it locked down the border town of Kaesong to tackle what could be its first publicly confirmed case of the disease. The measures come after the leader, Kim Jong Un, declared an emergency situation as one person suspected of being infected by the virus.
BBC Reported, Iran has launched missiles at a mock-up of a United States (US) aircraft carrier in the strategic Strait of Hormuz. The US navy condemned the “irresponsible and reckless behavior by Iran”, labelling it an attempt “to intimidate and coerce”. The exercise comes at a time of increased tension between Tehran and Washington in the Gulf waters.
In America, the Federal Open Meeting Committee will make a decision on the latest monetary policy by US’ central bank. Some analyst sees the policymakers will hold the benchmark rate near to zero level.
On Tuesday, Indonesia raised Rp22 trillion (US$1.52 billion) from a bi-weekly bond auction, above its indicative target. The weighted average yields of the bonds were below comparable bonds in the previous auction on July 14. While, incoming bids recorded Rp72.78 trillion.
Today, the government continues to distribute the government funds to the society as part of the National Economic Recovery Program. Finance ministry office through Indonesia Eximbank will give a guarantee for labor intensive projects.
Yesterday, Indonesian Rupiah was stagnant at the level of 14,535 per US Dollar and the Jakarta Composite Index (JCI) corrected 0.07 percent to 5,1212.98 compared to the previous day. Today, the analysts assess the financial markets will still be colored by the sentiment of the development of corona virus handling, especially the development of vaccine discovery.
The pharmaceutical company Moderna announced that the company-made vaccine might be ready for use later this year. In previous trials, a vaccine named mRNA-1273 was able to increase volunteer antibodies to a higher level than patients who recovered from the virus attack.
Domestically, the government is also optimistic that the antidote will soon be discovered by conducting a third phase of the trial at Padjadjaran University. Efforts to accelerate the economic recovery also continued to be carried out by pouring a lot of stimulus.
They stressed, the national economic recovery is highly dependent on handling the pandemic and economic activity in the second half of 2020. If the treatment is effective, the economy can recover in the third quarter of 2020 with growth between 0.4 percent to 1 percent and accelerated to 2 – 3 percent in the last quarter.
Based on various data, the Rupiah is expected to move in the range of 14,500 – 14,570. Meanwhile, JCI is between 4,821 to 5,188. Stocks to be considered for today are PT Indocement Tunggal Perkasa Tbk (IDX: INTP), PT Infofarma Tbk (IDX: INAF), PT Kalbe Farma Tbk (IDX: KLBF), PT Vale Indonesia Tbk (IDX: INCO), and PT Merdeka Copper Gold Tbk (IDX: MDKA).
Then, PT Bank Central Asia Tbk (IDX: BBCA), PT Unilever Indonesia Tbk (IDX: UNVR), PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Astra International Tbk (IDX: ASII), PT Merck Tbk (IDX: MERK), and PT Uni-Charm Indonesia Tbk (IDX: UCID).
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team. Please Read Our News to Get More information about Indonesia