Indonesia's Forex Reserves US$123B in February
Bank Indonesia Headquarters at Central Jakarta - Photo: Special

JAKARTA (TheInsiderStories) – Good Morning! Today, Bank Indonesia (BI) will deliver the central bank’ guidance for 2020. At the yearly meeting, President Joko Widodo its scheduled to give a speech for the bankers across the archipelago.

On the new policy, the head of state has signed a decree concerning of Ease of Doing Business (EODB), to drive the investment inflows, supporting the economic growth, and creating a new job. The president also released an order to increase the capacity and capability of planters, completion of the status and legalization of land, the use of oil palm as a new renewable energy and the acceleration of sustainable palm oil plantations

From United States (US), the commerce department reported the country’ economy grew at a moderate rate 2.1 percent in the third quarter of this year. The ministry also reported, total output of goods and services slightly exceeded its initial estimate of a 1.9 percent rate in July – September period.

From domestic side, Indonesian Motorcycle Industry Association sees flat sales next year because of weak demand. In this year, the motorcycle sales are expected to be 6.51 million units, or about 2 percent higher than in 2018.

While, joint police team in Manokwari, West Papua, reportedly arrested eight locals who are believed to be involved in the preparation of an illegal commemoration of the region’ resistance movement. Police personnel also confiscated 29 morning star flags in the raid.

Then, delegation of the Vietnamese National Financial Supervisory Commission led by its Vice Chairman Nguyen Van Khach visited and held working sessions with Indonesian officials in Jakarta from Nov. 24 – 26. The delegation held working sessions with the governor of Bank Indonesia (BI), Financial Services Authority, finance ministry, and Indonesia Deposit Insurance Corporation.

Yesterday, Indonesian Rupiah closed down 0.05 percent to 14,095 and BI’ middle rate was at 14,096 per US Dollar, or down 0.10 percent compared to the previous day at 14,081. The Jakarta Composite Index (JCI) also edged down 0.05 percent to 6,023,039 from prior day. This means the stock index has been flushed in five consecutive days.

Based on Indonesian Stock Exchange data, foreign investors have left the stock market. As much as Rp397.65 billion (US$28.40 million) foreign funds escaped from the stock market.

For today, the analysts rated, the local currency and falling down again and has possible to touched the lowest level since August 2019. The economic data such as inflation, interest rate, and others its expecting become a positive catalyst for the two major instruments movement.

From global, the lack of clarity in trade negotiations between US and China makes the American Dollar back ahead on other currencies, including Rupiah. In addition, the investors now await the results of the second estimated data from US’ economic growth in the third quarter of 2019.

With all various data, the observes viewed, the domestic exchange rate lowering in the range of 14,060 – 14,135 over the Greenback. While, the JCI is estimating to rebound between 5,989 – 6,189 compared to Wednesday.

The stocks to be watch for today are PT Unilever Indonesia Tbk (IDX: UNVR), PT Wilton Makmur Indonesia Tbk (IDX: SQMI), PT Barito Pacific Tbk (IDX: BRPT), PT Charoen Pokphand Indonesia Tbk (IDX: CPIN),  PT Sinarmas Multiartha Tbk (IDX: SMMA), PT Astra International Tbk (IDX: ASII), PT Unilever Indonesia Tbk (IDX: UNVR), PT HM Sampoerna Tbk (IDX: HMSP), and PT Astra Agro Lestari Tbk (IDX: AALI).

May you have a profitable day!

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