JAKARTA (TheInsiderStories) - Good Morning! Today, Statistic Indonesia will releases the economic growth data in the second quarter of 2020. In the first quarter, the country’ economy grew 2.97 percent, slowed compared to same period of 2019 at 5.07 percent and the weakest since 2001.
Beside, the Financial System Stability Forum will provide the latest information on the latest Indonesian economy and financial development after this afternoon’ meeting. And, President Joko Widodo has schedule to lead a limited meeting with topic the implementation of simultaneous local elections and stunting reduction.
Globally, investors’ attention is focused on a new stimulus package in the United States (US) to counter the negative impact of the corona virus pandemic from an economic standpoint. At present, politicians from the Democratic Party and the Republican Party are still trying to reach an agreement that is targeted this week.
While, the government of China and the US plans to review the trade agreement made by the two parties in mid-August amid heated relations between the two countries. The discussion of the Phase One agreement will be led by US’ trade representative Robert Lighthizer and Chinese deputy prime minister Liu He.
Yesterday, three explosions occurred in Beirut, Lebanon. Lebanese leaders had previously said that the blast was likely caused by high explosives that had been stored in warehouses in the capital for years. However, US President Donald Trump said the devastating explosion in Beirut was likely a bomb attack.
On Tuesday, Indonesian Rupiah closed up 0.03 percent to 14,625 against the American Dollar and the Jakarta Composite Index (JCI) gained 1.37 percent to 5,075. The analysts rated, in addition to the second quarter economic growth data, investors also await the economic projections in the next quarter.
External sentiment will also be one of the catalysts especially the development of COVID-19 cases globally, specifically in the US, is still awaited by the market. In addition, antivirus updates that are currently being tested are making global investors wait and see.
With these various development, they estimate, Rupiah moves in the range 14,690 - 14,800 per US dollar and the JCI between 4,800 - 5,100. Shares that can be considered today are PT Chandra Asri Petrochemical Tbk (IDX: CAPC), PT Bank Central Asia Tbk (IDX: BBCA), PT Vale Indonesia Tbk (IDX: INCO), PT Kalbe Farma Tbk (IDX: KBLF), and PT HM Sampoerna Tbk (IDX: HMSP).
Then, PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Bank Mandiri Tbk (IDX: BMRI), PT Aneka Tambang Tbk (IDX: ANTM), PT Sarana Menara Tower Tbk (IDX: TOWR), PT Merdeka Copper Gold Tbk (IDX: MDKA), and PT Surya Citra Media Tbk (IDX: SCMA) stocks.
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team. Please Read Our News to Get More information about Indonesia
