JAKARTA (TheInsiderStories) – Good Morning! Chinese President Xi Jinping offered controlling stake in joint oil and gas exploration venture to Philippines President Rodrigo Duterte. In exchange, Xi wants Duterte ignoring an international arbitration on the South China Sea.
Duterte said the projects in Manila’ Exclusive Economic Zone. While, China and Malaysia have agreed to set up a joint dialogue mechanism for the disputed South China Sea.
Recently, Chinese naval deployments in the strategic waterway, through which more than US$3.4 trillion worth of goods are transported every year, have reignited tension with Vietnam and the Philippines. Malaysia, Brunei and Taiwan also have competing claims in the South China Sea.
Still from Philippines, Duterte scheduled to visit Russia next month. According to foreign affairs secretary Teodoro Locsin, Duterte will make up for his 2017 visit, which was cut short after deadly clashes between government troops and militants linked to the Islamic State prompted him to place the southern Philippine island of Mindanao under martial law.
Israel prime minister Benjamin Netanyahu and Russian president Vladimit Putin met in coastal city of Sochi discussed security coordination in Syria. At the meeting, he conveyed that Israel must be allowed to act freely against Iran. Previously, Moscow pointed out that Netanyahu drew a “sharp negative reaction” in the Arab world during pre-election and reiterated its call for direct talks between Israel and Palestinians.
From United States (US), President Donald Trump administration considered to offer a limited trade agreement to China. Its reported, some of his top trade advisers have discussed the plan in preparation for two rounds of face-to-face negotiations with Chinese officials in Washington.
In Europe, president of the European Parliament has criticized Boris Johnson‘ suspension of the British parliament. The leaders of the European Parliament’ mainstream political groups agreed that the decision makes a no-deal Brexit more likely.
On Wednesday Scotland’ highest civil court ruled that it the prime minister’ suspension of parliament was unlawful. The case will now go to the United Kingdom’ Supreme Court, with hearings next week.
While Johnson reported has been publicly offered a non-aggression pact by Nigel Farage if he signs up fully to a no-deal departure from the European Union. The Brexit party leader urged the prime minister to strike an agreement to stand jointly in favor of no deal.
From Asia, foreign direct investment (FDI) into the Chinese mainland expanded 6.9 percent to RMB604 billion in the January – August period, the ministry of commerce said. In US Dollar terms, the capital inflow grew 3.2 percent to $89.26 billion. In August alone, FDI reached RMB70.89 billion, up 3.6 percent from a year ago.
From ASEAN region, Malaysian prime minister Mahathir Mohamad is writing to Indonesia’ president Joko Widodo to raise his concern about cross-border haze. Fires have burnt through parts of Indonesia’ Sumatra and Borneo islands for more than a month. But Indonesian officials caused further anger in Malaysia by disputing reports that the smoke was coming from their country.
In the country, the number of foreign workers in Indonesia is estimated to rise 20 percent from last year’ 95,335 people as the result of the Labor Minister’ decree Number 228 of 2019 that eases the entry rules of foreign workers. Indonesia allowed 2,196 positions for foreign workers in the new decree.
On Thursday, Indonesian Rupiah rose sharply to 13,985 against the US Dollar or strengthened 0.5 percent compared to the previous day. But, the Jakarta Composite Index (JCI) dropped 0.62 percent to 6,342.17 from yesterday. The composite index is expected to test support levels in this weekend and will move in the range 6,294 tp 6,311.
Foreign investors recorded net sell actions worth Rp494.15 billion (US$35.05 million) during the trading day. Since the beginning of the year, foreign investors have still recorded net purchases of Rp56.94 trillion.
For today, the analysts recommended PT Bank Central Asia Tbk (IDX: BBCA), PT AKR Corporindo Tbk (IDX: AKRA), PT Indocement Tunggal Perkasa Tbk (IDX: INTP), PT Gudang Garam Tbk (IDX: GGRM), PT HM Sampoerna Tbk (IDX: HMSP), PT Astra International Tbk (IDX: ASII), PT Bank Negara Indonesia Tbk (IDX: BBNI), and PT Kalbe Farma Tbk (IDX: KLBF) to be watch.
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia