City of Jakarta, Indonesia - Photo by Flashnet

JAKARTA (TheInsiderStories) – Good Morning! Bank Indonesia (BI) sees Indonesia’ economic growth landed at 5.1 percent during past year, supported by improvements in exports and household consumption that remains well, exports, and rising prices for some of the country’ main export commodities. The number higher than government prediction the GDP will landed 5.0 percent in 2019.

The central bank also optimistic that bank credit can grow 10 to 12 percent in this year, after experiencing a significant slowdown in growth in 2019. Banking credit growth in 2019 was recorded to grow 6.08 percent and the third party funds also grow slow by 6.54 percent compared to the previous year.

On the Wuhan coronavirus, Malindo Air officially announced the suspension of international flights from Kuala Lumpur, Malaysia to Wuhan International Airport, Tianhe, China until further notice. This is as an anticipatory measure according to a travel ban notification from Wuhan authorities regarding the impact of the virus outbreak.

From Asia, Japan’ core consumer prices index rose to 0.7 percent in December from a year earlier and accelerating from the previous month, but inflation was still well away from the central bank’ elusive 2 percent target, the government data showed on Friday. In November, the index rose 0.5 percent.

In addition, the Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index edged up to a seasonally adjusted 49.3 from a final 48.4 in December. Then, the output and new orders remained in contraction for the 13th month. Separate data showed activity in Japan‘ services sector expanded at the quickest pace in four months, likely keeping alive policymakers’ hope for a domestic demand-led recovery.

On the commodity market, oil price dropped to eight-week after the Energy Information Administration (EIA) announced a 405,000-barrel decrease in crude stockpiles last week followed the World Health Organization decision on coronavirus. The EIA also showed a 1.75-million-barrel gain in gasoline stocks, the smallest since September. Distillate stocks fell 1.19 million barrels, after gaining over 20 million barrels over the previous three weeks.

On Thursday, West Texas Intermediate futures for March delivery slid US$1.15 to settle at $55.59 a barrel, the lowest close since Nov. 29. While Brent futures for March settlement dropped $1.17 to $62.04 a barrel.

Yesterday, Indonesian Rupiah closed up 0.17 percent 13,646 a US dollar and the Jakarta Composite Index rose 0.25 percent to 6,249.21 compared to prior day. For today, some analysts viewed there is still lacks domestic sentiment but from global there is a trade agreement sentiment between the United States (US) and the European Union.

Based on the various data, their projecting that the local currency move in the range 13,600 – 13,690 against the American Dollar. While, the stock index between 6,202 – 6,378.

Stocks to be considered for today are PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Indonesia Fibreboard Industry Tbk (IDX: IFII), PT Barito Pacific Timber Tbk (IDX: BRPT), PT Bank Tabungan Negara Tbk (IDX: BBTN), PT Chandra Asri Petrochemical Tbk (IDX: TPIA), PT Astra International Tbk (IDX: ASII), PT Pakuwon Jati Tbk (IDX: PWON), PT HM Sampoerna Tbk (IDX: HMSP), PT Perusahaan Gas Negara Tbk (IDX: PGAS), and PT Adaro Energy Tbk (IDX: ADRO).

May you have a profitable day!

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