JAKARTA (TheInsiderStories) – Good Morning! Indonesian government will re-open the business activities starting June 5 in the “safe areas” from the COVID-19 outbreak, said the President Joko Widodo on Tuesday. The shopping centers association reported that around 67 malls are ready to operate starting next month.
Commenting on the planned, governor of Jakarta, Anies Baswedan reprimanded that the large-scale social distancing not end yet and has possibility to extends. As known, the regional government’ third restriction in the capital city was scheduled to be completed on June 4.
To finalized the “new normal” protocol, President Widodo has agenda to lead a limited on the preparation to implement the program and the accelerating handling of the COVID-19 pandemic. While, senior minister for economic affairs, Airlangga Hartarto will lead a coordination meeting on the Economic Recovery Program.
From United States (US) President Donald Trump warned that Hong Kong could lose its status as a global financial center if a proposed Chinese crackdown goes ahead. Critics fear the law could be a death blow to the city but Hong Kong’ chief executive, Carrie Lam said, that the essential freedoms would remain.
At the same day, the US Navy accused Russia of intercepting its aircraft over the Mediterranean Sea after two Russian military SU-35 jets intercepted a P-8A aircraft for more than an hour. The interception is the third in two months over the same waters.
Last week, US President Donald Trump announced his intention to withdraw the US from the Open Skies Treaty to which Russia is signatory. It allows nations to fly over each other’ territory.
In China, the leaders is still holding a National Congress until May 28. On the sidelines of the congress, foreign minister Wang Yi reminded Washington not to confront China. The US – China relationship was undermined due to the issues of human rights, trade, COVID-19 and Hong Kong.
While, Indian media reported 10,000 Chinese soldiers have invaded “border territory of the two countries. Prime Minister Narendra Modi has talked to the military and other officials over the border tension. The border dispute goes back decades. India and China both claim territory along the Himalayas.
On Tuesday, Indonesian Rupiah landed at JCI parked at 14,755 over the US Dollar or dropped 0.31 percent compared to last week. And, the Jakarta Composite Index (JCI) up 1.78 percent to 4,626,799. The local currency performance was one of the weakest against major Asian currencies.
The exchange rate settled in the red zone accompanied by the Singapore dollar which also weakened 0.11 percent. The analysts rated, a positive catalyst along with the signs of economic activity in some countries helping investors ignore the tension between the US and China.
In addition, the government continues to coordinate with Bank Indonesia to stabilize the economy. They said, the mix strategy that is currently being implemented can bring quite solid fundamental strength.
Based on the various development, they estimates the Rupiah will move in the range 14,710 – 14,785 per US Dollar and the JCI between 4,650 to 4,700. The stocks to be watch are PT Astra International Tbk (IDX: ASII), PT Bank Central Asia Tbk (IDX: BBCA), PT Indofood Sukses Makmur Tbk (IDX: INDF), and PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP)
Then, PT Summarecon Agung Tbk (IDX: SMRA), PT Ace Hardware Tbk (IDX: ACES), PT Bank Tabungan Negara Tbk (IDX: BBTN), PT United Tractors Tbk (IDX: UNTR), PT Telkom Indonesia Tbk (IDX: TLKM), PT Industri Jamu Sido Muntjul Tbk (IDX: SIDO), and PT PP Tbk (IDX: PTPP).
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia