JAKARTA (TheInsiderStories) – Good Morning! Today, Bank Indonesia has schedule to releases the position of foreign exchange reserves of the country until July 2020. Last June, the reserves position stood at US$125.9 billion. No other important agenda in Indonesia on Friday.
At the same day, the United States (US) Senate will decide on further stimulus proposed by the Donald Trump administration. The country also relaxed the travel ban warning for its citizens to go abroad. Initially, US government imposed travel advisory in March in response to the outbreak of the pandemic.
The US’ state department ended the travel advisory as the conditions getting improve in some countries. While, the US secretary of health is scheduled to visit Taiwan that will definitely irritate Beijing amid the rising tension between the two countries.
On the COVID-19 issues, the government announced, there are seven vaccine candidates in the world with the most advanced development. The vaccine is owned by Sinovac, Pfizer, BioNTech, University of Oxford in collaboration with Astrazeneca, Moderna, University Of Melbourne, and Murdoch Children Research Institute
On Thursday, Indonesian Rupiah weakened 0.24 percent to 14,585 per US Dollar, the deepest weakening along with the Chinese Yuan and among other Asian currencies. While, the Jakarta Composite Index (JCI) strengthened 1 percent to 5,178 compared to the previous day.
According to analysts, currently, the market players are starting to look at risky assets driven by speculation that a US’ new stimulus package will pour out to restore the economy. The White House and Democrats are chasing a deadline on Friday to decide on a deal.
Other factors that could affect the market is the Turkish Lira. On Thursday, Lira was fell to a record high as intervention by the state banks failed to convince the market. In addition, gold has now perched at the level of $2,050 per troy ounce.
For today, the JCI is expected to move between 5,107 – 5,220 and Rupiah in the range of 14,530 – 14,660 versus the American Dollar. The recommended shares for today are PT Bank Central Asia Tbk (IDX: BBCA), PT Adaro Energy Tbk (IDX: ADRO), PT Bank Mandiri Tbk (IDX: BMRI), and PT CIMB Niaga Tbk (IDX: BNGA).
Then, PT Barito Pacific Tbk (IDX: BRPT), PT Bukit Asam Tbk (IDX: PTBA), PT Astra International Tbk (IDX: ASII), PT Semen Indonesia Tbk (IDX: SMGR), PT United Tractor Tbk (IDX: UNTR), and PT Tower Bersama Infrastruktur Tbk (IDX: TBIG) 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