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JAKARTA (TheInsiderStories) – Good Morning! Today, Indonesian central bank (BI) will announces the Retail Survey Index (RSI) in August after last month stood at 2.4 percent. At the same day, the government establish the Environmental Fund Management Agency to overcome all kinds of problems related to the environment in various ministries.

From Singapore, President Joko Widodo and Prime Minister of Singapore Lee Hsien Loong agreed to extend the bilateral swap agreement, FIR Realignment (which was signed on Sept. 12, 2019), and the development and follow-up of agreements reached at last year’ Leaders’ Retreat, including Kendal industrial estate.

Widodo also offered a number of infrastructure projects in Indonesia such as Makassar – Parepare railroad project and the air field in Labuan Bajo, East Nusa Tenggara. In addition, both leaders also agreed to push for the completion of the ratification process of bilateral investment treaties and increase cooperation in the fields of electronic commerce, financial technology, data services, techno park development, and regional innovation hubs.

On Sept. 27, Indonesian president has signed the government regulation Number 68 of 2019 to set up Singhasari Special Economic Zones (SEZ) located in Malang, East Java. The new SEZ has an area of ​​120.3 hectares consist of tourism and technology zone.

From the political side, the opposition leader Prabowo Subianto has reported ready to joint the Widodo coalition after meet with the head of state and chairwoman of Perjuangan Demokrasi Indonesia Party, Megawati Soekarnoputri months ago. Secretary general of Gerindra, Ahmad Muzani said, there was discussion between Gerindra and Widodo’ delegates about the ministerial position in the 2019-2024 government period.

From United States (US), Federal Reserves chairman Jerome Powell said the central bank will soon increase its purchases of short-term Treasury securities to avoid a recurrence of the unexpected strains experienced in money markets last month. He also give a signal there is a room for the committee to cut the rate in October’ meeting.

Yesterday, President Donald Trump has sent a letter to speaker Nancy Pelosi and the House’ chairmen to refuse the impeachment inquiry. The letter demonstrates that the Democrats’ inquiry lacks any legitimate constitutional foundation, any pretense of fairness, and even the most elementary due process protections. Democrats are pursuing purely partisan goals, including influencing the upcoming 2020 election.

Ahead of US – China’ official meeting, Trump’ administration expanded its trade blacklist to include some of Chinese top artificial intelligence startups over Beijing’ treatment of Muslim minorities. The tension has influenced market and bring most of major stock got crushed. With fading optimism around the trade negotiations, the S&P 500 dropped 1.56 percent and  Dow Jones Industrial Average was down 1.19 percent.

From Europe, Russia and Turkey have signed a bilateral swap agreement. It said, the main goal of deal is to increase and gradually switch to the use of the Russian Ruble and Turkish Lira for bilateral settlements, create an appropriate financial market infrastructure and increase the attractiveness of national currencies for businesses.

The agreement also provides an expansion of the infrastructure for receiving Russian MIR bank cards in Turkey and the connection of Turkish banks and companies to the Bank of Russia Financial Messages Transfer System. Last week, Russian President Vladimir Putin said that his country was cutting trade in US Dollars due to Washington’ attempts to use the American currency as a “political weapon.”

On Tuesday, Indonesian Rupiah slightly up 0.04 percent to 14,150 compared to US Dollar. While, the Jakarta Composite Index (JCI) rose 0.65 percent to 6,039.60 from previous day.

Some analysts recommended PT HM Sampoerna Tbk (IDX: HMSP), PT Smartfren Telecom Tbk (IDX: FREN), PT Kalbe Farma Tbk (IDX: KBLF), PT Tower Bersama Infrastructure Tbk (IDX: TBIG), PT Bank Central Asia Tbk (IDX: BBCA), PT Jasa Marga Tbk (IDX: JSMR), PT Telkom Indonesia Tbk (IDX: TLKM), PT Gudang Garam Tbk (IDX: GGRM), PT Wijaya Karya Tbk (IDX: WIKA), and PT Pakuwon Jati Tbk (IDX: PWON) to be watch for today. 

May you have a profitable day!

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