JAKARTA (TheInsiderStories) – Good Morning! Indonesia, United States (US), South Africa reported a record new daily COVID-19 infections. US figures surpassing 50,000 cases a day for the first time and in total nearly to 2.7 million cases and 128,000 dead
While, the task force reported there are additional 1,624 positive cases in Indonesia and bringing in total 59.394 cases. Globally there have been 10.7 million coronavirus cases and more than 516,000 dead, according to Johns Hopkins University.
On the South China Sea issues, US defense department expressed concern about China holding military exercises in the disputed waters. Starting July 1, China announced it had scheduled five days of drills near the Paracel Islands, which are claimed by both the countries and Vietnam.
China claims 90 percent of the potentially energy-rich in the sea, but Brunei, Malaysia, Philippines, Taiwan and Vietnam also lay claim to parts of it, through which about $3 trillion of trade passes every year.
In addition, US federal prosecutors are seeking to seize four tankers sailing towards Venezuela with gasoline supplied by Iran. The Donald Trump administration has been stepping up pressure on ship owners to abide by sanctions against its adversaries like Iran, Venezuela and North Korea.
No Important agenda today in Indonesia. Still, the investor eyes focus on the next move of President Joko Widodo on his cabinet members.
Yesterday, Indonesian Rupiah closed down 0.66 to 14,378 per US Dollar and the Jakarta Composite Index ended at level 4,966.78 after rising 1.07 percent. The analysts rated the local currency had weakened because the demand for the US dollar increased for the dividend payment purposes.
In addition, fears of a second wave of the COVID-19 pandemic also continued to put pressure on the Rupiah. For today, they projects that the movement of the Rupiah will be affected by the results of the Federal Reserves meeting minutes.The observers sees that the US central bank will still be dovish.
With various sentiment, they rated the Rupiah will continue to weaken in the range of 14,300 to 14,425 over the Greenback and the JCI between 4,930 – 5,070. Stocks to be watch for today are PT Bank Central Asia Tbk (IDX: BBCA), PT Bank Mandiri Tbk (IDX: BMRI), PT Astra International Tbk (IDX: ASII), PT PP Tbk (IDX: PTPP), and PT Adhi Karya Tbk (IDX: ADHI))
Then, PT Barito Pacific Tbk (IDX: BRPT), PT Chandra Asri Pectrochemical Tbk (IDX: TPIA), PT Unilever Indonesia Tbk (IDX: UNVR), PT Wijaya Karya Tbk (IDX: WIKA), and PT Pabrik Kertas Tjiwi Kimia Tbk (IDX: TKIM).
May you have a profitable Day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia