President Joko Widodo has signed a special rule  Government Regulation Number 23 of 2020 regarding Economic Recovery Program (ERP), which was just enacted yesterday (05/11) - Photo by President Office

JAKARTA (TheInsiderStories) – Good Morning! President Joko Widodo will sign National Medium-term Development Plan of Indonesia decree on Jan. 20. During 2020 – 2024, the government targeting the economy grow in the range 5.6 – 6.2 percent.

While, this morning, finance minister Sri Mulyani Indrawati has schedule to release the realization of 2019 State Budget. At the same time, vice minister of trade Jerry Sambuaga will hold a press briefing on the bio fuel connecting to the World Trade Organization.

At the same day, Bank Indonesia release the Consumer Confidence Index survey. In November, the index landed at 124.4 or rise compared to prior month.

Yesterday, President Widodo has signed the designation of three new Special Economic Zones (SEZs) through the government regulation (PP) Number 68 Year 2019. The three SEZs are Singhasari (Malang Regency, East Java), PP Number 85 Year 2019 stipulates Kendal (Central Java), and PP Number 84 Year 2019 which stipulates the Likupang SEZ (North Minahasa Regency, North Sulawesi).

From global, IHS Markit reported the Eurozone purchasing managers’ index (PMI) Composite Output Index improved slightly during December, but still signaled weak economic growth. After accounting for seasonal factors, the index recorded 50.9, up from 50.6 in November and slightly better than the earlier flash reading.

Overall growth remained centered on the service sector, with growth here reaching a four-month high. In contrast, manufacturing output declined at a rate not exceeded for nearly seven years. At the national level, Ireland moved to the top of the country rankings during December, expanding at the fastest rate for six months.

Spain also registered a solid rate of expansion, as did France despite recording its slowest growth in three months. There was some positive news in Germany, where there was a return to marginal growth following three months of contraction. In contrast, Italy remained inside negative territory for a second month, registering its worst performance in just under a year.

Whilst, the Institute of Supply Management will release December non-manufacturing PMI and factory orders at 10:00 AM ET (15:00 GMT). Its expected the index edged up to 54.5 and the factory orders for November fell 0.8 percent.

Today, the American Petroleum institute will release its snapshot on United States (US) oil inventories. Last week, The agency reported a drop in oil inventories of 7.9 million barrels.

On Monday, Indonesian Rupiah closed down 0.1 percent to 13,944 a US dollar and the Jakarta Composite Index dropped 1.04 percent to 6,257.40 compared to previous day. Today, US – Iran tension still become the major influence to the market.

The stock to be watch for today are PT Gudang Garam Tbk (IDX: GGRM), PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), PT XL Axiata Tbk (IDX: EXCL), PT Sri Rejeki Isman Tbk (IDX: SRIL), PT HM Sampoerna Tbk (IDX: HMSP), PT Tower Bersama Infrastructure Tbk (IDX: TBIG), PT Kalbe Farma Tbk (IDX: KLBF), PT Astra Agro Lestari Tbk (IDX: AALI), PT Adhi Karya Tbk (IDX: ADHI), PT CIM Niaga Tbk (IDX: BNGA), PT Bank BRISyariah Tbk (IDX: BRIS), PT Semen Indonesia Tbk (IDX: SMGR), and PT Summarecon Agung Tbk (IDX: SMRA).

May you have a profitable day!

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