JAKARTA (TheInsiderStories) – China offered to exclude the first set of lists of United States (US) goods to be excluded from the round of additional tariffs, said the commerce office. The exemption will be effective from Sept. 17, 2019 to Sept. 16, 2020.
The country also promised to buy agricultural products from America with a larger amount. In exchange, the Chinese side has asked the US to delay the imposition of new import duties and ease sanctions against Huawei Technologies Inc., a giant telecommunications company.
While, America’ producer prices unexpectedly rose in August and underlying producer inflation rebounded, but the data did not change investor expectations that the Federal Reserve (Fed) will cut interest rates again next week. Last week, Fed chairman Jerome Powell reiterated that the US central bank would continue to act “as appropriate” to keep the expansion. Whilst, President Donald Trump called on the Fed to push interest rates down to zero or into negative territory.
Its also reported, Trump discussed an easing sanctions on Iran to help secure a meeting with Iranian President Hassan Rouhani later this month. The White House has started preparations for Trump to meet with Rouhani in New York on Sept. 23. Brent oil prices fell more than 2 percent to US$61.05 a barrel on the news.
From Asia, Hong Kong Exchanges & Clearing Ltd. (HKEX) made an unexpected $36.6 billion bid for London Stock Exchange Group Plc (LSE). The board said it would consider the proposal and make a further announcement later. LSE executives and investors may also view the $27 billion takeover of Refinitiv as a more secure future than a multi-continental combination of stock exchange operators.
Indian government reported has accepted a proposal to lowering the import duty on refined, bleached and deodorized palm oil from Indonesia to accommodate the export of high-quality raw sugar from India, said trade minister Enggartiasto Lukota.
Currently, India is struggling to manage surplus sugar, with opening stock estimated to hit a record high of 14 million tons in the next season. The government has asked Indian producer to export six million tons of sugar.
In Indonesia, chairman of Gerindra party Prabowo Subianto hoping that his former running mate in the 2019 presidential election, Sandiaga Salahuddin Uno, will rejoin his party. Uno might announce his rejoining to the party when the national meeting takes place. He left the party after he was chosen to accompany Subianto at the presidential race.
Former Indonesia’ third president Bacharuddin Jusuf Habibie (83), who allowed democratic reforms and an independence referendum for East Timor following the ouster of the dictator Suharto, has died. His unpopular presidency was the shortest in modern Indonesia’ history, but was transformative.
Habibie was tapped to lead Indonesia by Suharto as the military dictator’ 32-year hold on power crumbled in May 1998 during a student uprising and a devastating economic crash. It ended after only 16 months in October, 1999 when he withdrew from contention in presidential election.
On the Corruption Eradication Commission (CEC) issues, President Joko Widodo has sent a Presidential Letter to Indonesian parliament after studying the draft revision of the CEC Law, said minister of state secretary, Pratikno. The revision planned has rejected by the CEC’ board and get a critics from the society but the government and parliament keep moving to process the revision.
On Wednesday, Indonesian Rupiah closed up 0.07 percent to 14,055 over the US Dollar and the Jakarta Composite Index also jumped 0.71 percent to 6,381.95 compared to prior day. Its predicting the local currency and composite index will strengthen. JCI is estimating move in the range 6,300 – 6,400.
For today, the analysts recommended PT Bank Central Asia Tbk (IDX: BBCA) and PT Mulia Industrindo (IDX: MLIA), PT Tower Bersama Infrastructure Tbk (IDX: TBIG), PT Vale Indonesia Tbk (IDX: INCO), PT Ace Hardware Tbk (IDX: ACES), PT Pakuwon Jati (IDX: PWON), PT Astra International Tbk (IDX: ASII), PT Kalbe Farma Tbk (IDX: KAEF), and PT Erajaya Swasembada Tbk (IDX: ERAA).
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia