JAKARTA (TheInsiderStories) – Good Morning! Early this week, Indonesia sent a letter to United Nation secretary-general António Guterres opposing Beijing’ claims in the South China Sea. The letter spelled out the Indonesian government’ support for a 2016 ruling by the Permanent Court of Arbitration in the Hague.
It said, as a State Party to UNCLOS 1982, Indonesia has consistently called for the full compliance toward international law, including UNCLOS 1982. The country declares that its not bound by any claims made in contravention to international law, including UNCLOS 1982.
On Thursday, education minister, Nadiem Makarim said, the school will re-opening again on July after closed for months. Next week, he will give a guidance the protocol to run the school during the COVID-19 outbreak caused 5 percent of positive cases in Indonesia is the children.
While, senior minister for economic affairs, Airlangga Hartarto stated, the government will re-open the economy gradually, start from industrial zones. The country also will set up a protocol for tourism sectors during the “new normal” period.
Today, President Joko Widodo will lead a limited meeting of National Strategic Project for National Economic Recovery from the impact of COVID-19. In Asia, China’ parliament approved to go forward with a national security legislation for Hong Kong.
While United States (US) secretary of state, Mike Pompeo said, that Hong Kong no longer qualifies for its special status under American law. The statement has potentially worsening relations between the world’s two biggest economies and would enact another trade war in the current circumstances.
On Friday, President Donald Trump would hold a press conference on China, potentially triggering tensions between the world’ two largest economies.
In the Philippines, the COVID-19 task force recommended an easing the lockdown in Manila, which has so far been one of the toughest and longest lockdowns in the world. From Europe, Britain to roll out mass COVID-19 testing and contact tracing.
On Thursday, Southeast Asian markets take a gains led by Indonesia, as optimism over economies reopening from COVID-19 lockdowns overshadowed concerns about flaring US – China tensions over Hong Kong.
Extending its rally to a third day, the Jakarta Composite Index rose 1.6 percent to its highest closing level in nearly a month at 4,716.18. While, Indonesian Rupiah closed down 0.03 percent 14,715 against the Greenback.
The analyst said, traders cautiously watched the escalation between Washington and Beijing even as stocks surged over the past two days. Based on the various data they estimates the stock index will move in the range 4,750 – 4,800 and the local currency between 14,700 – 14,900 a US Dollar.
Stocks to be watch for today are PT Bank Mandiri Tbk (IDX: BMRI), PT Bank Central Asia Tbk (IDX: BBCA), PT Astra International Tbk (IDX: ASII), PT Barito Pacific Timber Tbk (IDX: BRPT), PT Surya Citra Media Tbk (IDX: SCMA), PT Semen Indonesia Tbk (IDX: SMGR), and PT AKR Corporindo Tbk (IDX: AKRA).
Then, PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), PT Indofood Sukses Makmur Tbk (IDX: INDF), PT Japfa Comfeed Indonesia Tbk (IDX: JPFA), PT Kalbe Farma Tbk (IDX: KLBF), PT Bank Negara Indonesia Tbk (IDX: BBNI), and PT Bank Tabungan Negara Tbk (IDX: BBTN).
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia