President Joko Widodo and President Hassan Rouhan of Iran have a phone call on Monday discussed the relations between the two countries - Photo by Iranian Government

JAKARTA (TheInsiderStories) – Good Morning! President Joko Widodo and President Hassan Rouhan of Iran have a phone call on Monday discussed the relations between the two countries. They also underlined the need to further enhance Tehran – Jakarta ties in all areas to serve the interests of both nations.

The two leaders hope the holding of the 13th meeting of the Iran – Indonesia Joint Economic Cooperation Commission will expedite the implementation of agreements signed between the two sides and lead to further expansion of reciprocal ties. Earlier, Widodo also called United States President Donald Trump to get help to handle the COVID-19 pandemic.

Today, the House of Representatives Commission XI working meeting with the finance minister, the governor of Bank Indonesia (BI), the Financial Services Authority, and the Deposit Insurance Agency. While Commission VII had a hearing with the Head of SKK Migas discussing the theme of upstream oil and gas industry in the middle of pandemic and crude price decline, explanation of Pan Orient Inc’ resignation in the East Jabung Block in Jambi, and the platform nurning in Camar Field, Bawean Block, East Java Province.

Yesterday, Indonesian Rupiah was perched at 15,385 a US Dollar after rising 15 points and the Jakarta Composite Index (JCI) closed up 0.38 percent to 4,513.14 compared to end of last week. The Economists see a reduced pressures on oil price drive the move of both instruments.

However, they rated the Rupiah and JCI is likely to remain volatile with the possibility of strengthening with a number of external and internal sentiments. From the external side, it said, the market welcomed the planned relaxation of social distancing in the US and a number of countries in Europe, including Germany and Italy which were the countries with the most cases.

On the one hand, concerns about Brexit are still looming even though Britain insists it will not extend the transition period. While in the US, President Donald Trump is considering permission for some states to stop the lockdown because the percentage of new cases tends to be lower.

For internal factors the minister of finance, Sri Mulyani Indrawati said the Islamic Development Bank was ready to provide emergency funds to overcome the impact of the corona virus outbreak around US$250 million. The funds will be focused on increasing allocations in the fields of health, social assistance and business incentives to maintain people’s purchasing power.

In addition, Bank Indonesia breathes freely because the strengthening of the Rupiah is fully supported by external data, which is its not too large to intervene in the foreign exchange, bond market or in delivery domestic non delivery forward.

For today, the local currency is expected to move in the range of 15,300 – 15,480 and the stock index between 4,463 – 4,747. Stocks to be watch for today are PT Bank Central Asia Tbk (IDX: BBCA), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Bank Mandiri Tbk (IDX: BMRI), PT Adaro Energy Tbk (IDX: ADRO), and PT Erajaya Swasembada Tbk (IDX: ERAA).

Then, PT Wijaya Karya Tbk (IDX: WIKA), PT Jasa Marga Tbk (IDX: JSMR), PT AKR Corporindo Tbk (IDX: AKRA), PT HM Sampoerna Tbk (IDX: HMSP), PT Unilever Indonesia Tbk (IDX: UNVR), PT Indofood Sukses Makmur Tbk (IDX: INDF), and PT Mayora Indah Tbk (IDX: MYOR).

May you have a profitable Day!

Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia