Japan’s real GDP growth for the first quarter of 2019 was revised up marginally to 0.6 percent quarter to quarter. Photo: Privacy.

JAKARTA (TheInsiderStories) – Good Morning! Bank of Japan (BoJ) left its monetary stimulus unchanged minus 0.1 percent but hinted at possible action at its next meeting in October. The Bank also will purchase Japanese government bonds to maintain 10-year yields remain at around zero percent with total outstanding about 80 trillion yen per annum.

Furthermore, the central bank will purchase exchange-traded funds and Japan real estate investment trusts to kept the outstanding rise to around 6 trillion yen and about 90 billion yen, respectively. As for commercial papers and corporate bonds, BoJ will maintain their amounts outstanding at about 2.2 trillion yen and about 3.2 trillion yen, respectively.

This morning, senior officials of South Korea and Japan will hold a meeting in Tokyo to discuss issues of mutual interest amid escalating tensions between the two countries. Kim Jeong-han, director general of the foreign ministry’ Asian and Pacific affairs bureau will meet with his Japanese counterpart Shigeki Takizaki in Tokyo.

The two officials are expected to discuss holding talks between South Korean Foreign Minister Kang Kyung-wha and her newly-appointed Japanese counterpart Toshimitsu Motegi. As known, South Korea formally removed Japan from a “whitelist” of trusted trading partners following a commensurate move by Japan against the country last month.

For a fourth straight day, the New York Federal Reserve (Fed) Bank today will again conduct a repurchase agreement operation up to U$75 billion to offer more liquidity to the system that has been running short on cash. Previously the central bank offered the same amounts in repo operations since Tuesday for a total over than $200 billion.

This week, the Fed’ chairman Jerome Powell showed a little concern about the glitch in the crucial plumbing of United States (US) financial markets, arguing that it did not reflect on the real economy or monetary policy.

From Indonesia, the government and the parliament has completed the draft of Creative Economy Law and in the near future will be passed into law. This law is important, because it will provide the basis for legal certainty to the perpetrators efforts in the creative economy and creating a conducive ecosystem.

Futures Trade Regulatory Agency Commodity has issued the regulations to guarantee legal certainty and business certainty
physical trading of digital gold on the Indonesian stock exchange. These rules are contained in Regulation Number 4 Year 2019 concerning Technical Provisions for the Implementation of Digital Gold Physical Market in the Futures Exchange.

While, the ministry of transportation is preparing autonomous rail rapid transit (ART) at the new capital city in East Kalimantan. This ART could reduce investment costs because there is no need to build a railroad track. The projects its estimating need costs around Rp400 billion.

Yesterday, Indonesian Rupiah only edged up 0.05 percent at the level of 14,060 against the US dollar and the Jakarta Composite Index also closed down 0.5 percent to 6,244 despite the sentiment of a benchmark interest rate cut by Bank Indonesia.

Today, the composite index its expecting move in the range 6,187 – 6,372. While the stock to be watch are PT Telkom Indonesia Tbk (IDX: TLKM), PT Astra International Tbk (IDX: ASII), PT Bumi Serpong Damai Tbk (IDX: BSDE), PT Perusahaan Gas Negara Tbk (IDX: PGAS), PT Semen Indonesia Tbk (IDX: SMGR), PT Adaro Energy Tbk (IDX: ADRO), PT HM Sampoerna Tbk (IDX: HMSP), PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Bank Central Asia Tbk (IDX: BBCA), and PT Gudang Garam Tbk (IDX: GGRM).

US$1: Rp14,000

May you have a profitable day!

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