JAKARTA (TheInsiderStories) – Good Morning! Indonesia closed its doors to foreign arrivals for one month, especially the visitors from Iran, China, South Korea, Italy, Vatican, Spanish, France, German, Switzerland, and Britain, effective March 20. For Indonesian citizens who are currently traveling abroad, they are expected return to Indonesia.
Foreign ministry also said, every foreigner who will visit Indonesia is required to have a Visa from an Indonesian representative, attach a health certificate issued by the health authority in each country, fill out and submit a Health Alert Card to the Port Health Office prior to arrival at the entrance of the Indonesian International Airport.
On Wednesday, President Joko Widodo has scheduled to lead a limited meeting on gas price for industrial and non-subsidized fuels also national logistics ecosystem arrangement. Finance minister Sri Mulyani Indrawati has agenda to give presser on 2020 State Budget update.
In United States (US), after touched its lowest level, Wall Street bounce back today, with the S&P 500 rising 6 percent. President Donald Trump administration and the Federal Reserve gave them enough to go on, with commitment to a stimulus package that could be more than US$1 trillion, including checks in the mail, and the central bank stepping in to unfreeze the commercial paper market.
In the coming weeks, equity investors will be looking for more concrete details and action regarding federal government help for the economy. The initial COVID-19 response bill of the House still has to be approved by the Senate.
In Asia, Japan’ exports slipped for a 15th straight month in February as US and China-bound shipments declined. Imports from China fell at their fastest pace since 1986 after the virus.
The ministry of finance reported, Japan‘ exports lowered 1.0 percent from a year ago. By region, exports to China fell 0.4 percent in annual basis and to US dropped 2.6 percent in February.
Total imports shed 14.0 percent, triggered by the sharp drop imports from China. Imports from China slumped 47.1 percent. As a result, Japan’ experienced trade surplus of JPY1.11 trillion (US$10.34 billion), its largest since September 2007.
The Australian government said it would refund and waive charges to airlines such as domestic air traffic control fees worth A$715 million ($430.72 million), including A$159 million upfront, as it advised citizens against all travel outside the country.
Sweden and Denmark also announced $300 million in loan guarantees for Scandinavian carrier SAS (ST: SAS) on Tuesday. The International Air Transport Association, said the total government support needed worldwide could reach $200 billion caused of the pandemic.
On Tuesday, Indonesia Rupiah closed down 1.61 percent to 15,173 per US Dollar, the lowest level since November 2018, when the heat of US and China relations reached a peak. While, the Jakarta Composite Index (JCI) dropped 5 percent to 4,456.10, also a lowest level since 2016. Yesterday, the stock trading halt for the third time in this month.
The analysts rated, the government handling on the spread of the coronavirus in the country was not inline with market expectations and could push the local currency to touch the level of 16,000 agains the American Dollar. The US government policies also become market intentions.
They estimated, the Rupiah still in negative territory and move between 15,140 to 15,350 versus US Dollar. And, the JCI its expecting in the range 4,330.76 to 4,640.87.
The stocks to be watch for today are PT Astra International Tbk (IDX: ASII), PT Pakuwon Jati Tbk (IDX: PWON), PT Bank Central Asia Tbk (IDX: BBCA), PT Kalbe Farma Tbk (IDX: KLBF), PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), PT United Tractor Tbk (IDX: UNTR), PT Tower Bersama Infrastructure Tbk (IDX: TBIG), PT Merdeka Copper Gold Tbk (IDX: MDKA), and PT Surya Citra Media Tbk (IDX: SCMA).
US$1: JPY107.27, AUS$1.66
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia