Morning Briefing: Indonesia, Australia will Signs FTA on Monday

Australia's Prime Minister Scott Morrison and President Joko Widodo met at the ASEAN+ meeting in Singapore - Photo by President Office
JAKARTA (TheInsiderStories) — Good morning! Indonesia and Australia will sign a free trade agreement on Monday (03/04), ending months of uncertainty. The discussion was stopped due to Prime Minister Scott Morrison’ statement to open office in Jerusalem, Israel on October, 2018.
While, no agreement between United States President Donald Trump and North Korea Leader Kim Jong-n triggered bad sentiment to the global market. Most Asian markets also hit by Trump-Kim issue.
Indonesian Rupiah continued its day of depreciation to 14,115 against the US dollar. While the Jakarta Composite Index slumped by 1.26 percent to 6,443.34, with huge foreign net sells at Rp1.29 trillion (US$92.14 million).
Today, Statistic Indonesia will announce the latest inflation data. In February, the country posted inflation of 0.32 percent from previous month 0.62 percent. On the annual basis, inflation rate recorded 2.82 percent, lower than same month in 2018 at 3.25 percent. In January the core component is 0.30 percent and 3.06 percent in yearly basis.
Furthermore, State-Owned Enterprises Ministry targets Rp200 trillion profits this year. The minister Rini Soemarno estimated 2018’ profit was around Rp188 trillion. Even so, she realized that there are some subsidiaries of the state-owned enterprises suffered by loss.
Then, FGV Holdings Berhad, Malaysian crude palm oil producer, forecast palm oil prices will move in the range 2,000 to 2,500 ringgit a ton this year driven by an increasing exports to key markets, lower inventory levels and production, and higher domestic consumption due to stronger biodiesel mandates in Indonesia and Malaysia, the company said in a statement.
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