After decided not lockdown the country, now Indonesian President order COVID-19 task force to run rapid test across the country - Photo by President Office

JAKARTA (TheInsiderStories) – Good Morning! After decided not lockdown the country, now Indonesian President order COVID-19 task force to run rapid test across the country. Since announced on March 1, now total positive cases recorded 309 and 15 dies.

The task force also has received permission from the minister of health to import medical devices starting March 17 from Japan, South Korea and China. At the same day, President Joko Widodo and First Lady Iriana declared negative COVID-19 but no information for his cabinet tests.

Today, the head of state has schedule to lead a limited meeting related to monetary and fiscal policy facing the economic impact of the pandemic. Then, coordinating minister for economic affairs, Airlangga Hartarto plans to announces the pre work and state own enterprises minister Erick Thohir hold a presser on the ministry program.

Secretary General of the United Nations, Antonio Guterres warned that a global recession was something that was almost certain to happen and any efforts made by each country to overcome the corona virus pandemic would not be able to reduce the complexity of this crisis.

On Thursday, the Federal Reserve Bank of New York said it will purchase in US$32 billion in mortgage-backed securities across four operations for settlement on March 24. These purchases are intended to address highly unusual disruptions in the market associated with the coronavirus outbreak.

United States (US) crude prices closed up 24 percent on Thursday, after President Donaldt Trump administration said it will buy oil to top up the nation’ reserves and support American drillers hurt by the coronavirus crisis and ill-timed production hikes by Saudi rivals.

West Texas Intermediate settled up 24.4 percent to $25.91 per barrel from previous day down 24 percent at $20.38, a lowest level in 18 years. Brent crude also jumped 14 percent to $28.47.

In the stock market, Dow rose 0.95 percent after falling to its worst slump in three years a day earlier. The S&P 500 also rose 0.66 percent and the Nasdaq Composite up 2.30 percent.

In Indonesia, Rupiah was parked at 15,913 per US Dollar or weakened 4.3 percent and the middle rate of Bank Indonesia dropped 3.2 percent to 15,712 versus the Greenback. The level is the lowest level in the last 22 years and the worst daily performance since August 2013.

Throughout the year 2020, the local currency has corrected 12.86 percent, becoming the worst performance among Asian currencies after the South Korea Won weakened 10.1 percent. The Jalkarta Composite Index (JCI) also continued weaken amid pressure from the global market due to the virus outbreak.

The stock index had fallen 5.01 percent to 4,105.42 compared to prior day. Today, the analysts sees the Rupiah will move between 15,800 – 16,660 against the US Dollar and the JCI move in the range 3,891 – 4,222.

Stocks to be watch are PT Bank Central Asia Tbk (IDX: BBCA), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Merdeka Copper Gold Tbk (IDX: MDKA), PT Mayora Indah Tbk (IDX: MYOR), PT Kalbe Farma Tbk (IDX: KLBF), PT United Tractors Tbk (IDX: UNTR), PT Surya Citra Media Tbk (IDX: SCMA),and  PT Semen Indonesia Tbk (IDX: SMGR).

Then, PT Medco Energi International Tbk (IDX: MEDC), PT Indofood Sukses Makmur Tbk (IDX: INDF), PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Astra International Tbk (IDX: ASII), PT Telkom Indonesia Tbk (IDX: TLKM), PT HM Sampoerna Tbk (IDX: HMSP), PT Unilever Indonesia Tbk (IDX: UNVR), and PT Gudang Garam Tbk (IDX: GGRM).

May you have a profitable day!

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