JAKARTA (TheInsiderStories) – Good Morning! To maintain export growth amid a COVID-19 pandemic, trade minister, Agus Suparmanto said that his office in collaboration with other ministries to provides various stimulus. Another step taken facilitate the import of raw materials, especially from countries affected by the lockdown.
He noted, the increase in exports has now begun to improve and heading in a positive direction. While, Indonesia’ Purchasing Managers Index, which was last February dropped by 50 percent to 27.61 percent, it has now begun to rebound. Last May the rate become 28 percent, said the minister.
From Europe, British Prime Minister, Boris Johnson, will conduct telephone talks on Brexit issues with the President of the European Union Commission Ursula von der Leyen, President of the European Council Charles Michel, and European Parliament President David Sassoli on Monday (06/15).
The kingdom has planned to impose a light customs regime with the block starting next year to avoid the burden on local businesses that are already struggling with the effects of the COVID-19. Previously, Downing 10 said to implement a full border check on all goods entering the country from the European Union from Jan. 1, 2020.
In Asia, North Korea sees little use in maintaining a personal relationship between the leader, Kim Jong Un, and United States (US) President Donald Trump if Washington sticks to hostile policies. North Korean foreign minister, Ri Son Gwon said, Trump policies proved Washington remains a long-term threat to the state and its people.
On Thursday, Indonesian Rupiah closed weakened 0.29% to 14,020 per US dollar and the Jakarta Composite Index (JCI) fell 1.34 percent to 4,854 compared to the previous day. Concerns about the second wave of COVID-19 and the Federal Reserves assessment that the US economy was weaker than the market predicted was the cause of the weakening.
A very dovish policy of by the central bank will drive the flow of global funds into developing countries. Moreover, the spread of US Treasury with state debt yields is quite wide.
They estimate that today the rupiah exchange rate against the US dollar will move between Rp 13,800 – Rp 14,200 per US dollar. And the stock index to move in the range of 4,734 to 4,892.
The shares that can be watched by investors today are PT Adaro Energy Tbk (IDX: ADRO), PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Indotambang Megah Raya Tbk (IDX: ITMG), PT PT AKR Corporindo Tbk (IDX: AKRA) , PT Barito Pacific Timber Tbk (IDX: BRPT).
Then, PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT HM Sampoerna Tbk (IDX: HMSP), PT Indocement Tunggal Perkasa Tbk (IDX: INTP), PT Telkom Indonesia Tbk (IDX: TLKM), PT Astra International Tbk (IDX: ASII), and PT Bank Mandiri Tbk ( IDX: BMRI).
May you have a profitable Day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia