Indonesia' foreign exchange reserves rose to US$135.1 billion in July 2020 from previous month stood at $131.7 billion, the central bank reported today (08/07) - Photo: Special

JAKARTA (TheInsiderStories) – Good Morning! Today, Bank Indonesia will announces the balance of payments (BoP) position in the first quarter of 2020. In the fourth quarter of 2019, the BoP landed at US$4.7 billion and the current account deficit (CAD) was recorded at $30.4 billion or 2.72 percent of gross domestic products (GDP).

The amount improved compared to the deficit in the previous year of 2.94 percent of GDP. This achievement was mainly supported by the goods trade balance which recorded a surplus, different from the previous year which experienced a deficit.

Related to large-scale social restriction, Jakarta’ governor Anies Bawesdan has extended the regulation to June 4 from earlier ended at May 22. The decision has been taken to curb the capital city from more widespread channel of COVID-19.

Today,President Joko Widodo will inaugurate the launch of research, technology and innovation products to accelerate the handling of COVID-19. Then, finance minister, Sri Mulyani Indrawati, will hold a press conference related to the position of the state budget until May 2020.

From Europe, Britain decided post-Brexit tariff plan for Europen Union’ levy on car imports at 10 percent, an automotive industry body said on Tuesday. Earlier, the World Trade Organization allows nations to implement tariffs of up to 10 percent on cars brought in from abroad.

On Tuesday, Indonesian Rupiah closed up 0.54 percent to 14,770 per US Dollar and the Jakarta Composite Index ended at 4,586,656 or up 0.83 percent compared to the previous day. Today, the local currency its expecting move in a range of 14,750 – 14,820 against the Greenback and the stock index between 4,287 – 4,648.

Some analysts rated, the central bank’ decision to maintain the benchmark rate at 4.50 percent was its right caused the market need new stimulus like what was done by the American and European central bank.

Other global sentiment on the lockdown easing by some countries and the progress of vaccine discovery also give hope that the economy will recover soon. But, they said, the market still wary of the development of the plague and also the potential for trade war between the United States (US) and China.

Stocks to be watch for today are PT Indofood Sukses Makmur Tbk (IDX: INDF), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Bank Negara Indonesia Tbk (ID: BBNI), PT Telekomunikasi Indonesia Tbk (IDX: TLKM), PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), PT Astra Agro Lestari Tbk (IDX: AALI), PT Wijaya Karya Tbk (IDX: WIKA), PT Astra International Tbk (IDX: ASII), PT CIMB Niaga Tbk (IDX: BNGA), PT Indika Energy Tbk (IDX: INDY), PT Gudang Garam Tbk (IDX: GGRM), and PT Bank Mandiri Tbk (IDX: BMRI).

May you have a profitable day!

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