JAKARTA (TheInsiderStories) - Good Morning! Indonesian inflation data for June will announces today. With the weak consumption the inflation rate during May at 0.07 percent, last month’ level is estimating almost near to the level. Annual inflation recorded at 2.19 percent
Starting today, the government officially levies taxes on the purchase of applications, online game transactions and streaming services for films and music. This digital tax provision is regulated through Regulation of the Director General of Tax Number PER-12/PJ/2020. This is a derivative of minister of finance regulation Number 48 of 2020 which was published in mid-May 2020. No other important agendas for today in the country
From the global, the controversial National Security Act imposed by China in Hong Kong began yesterday with a negative response from the international community, although the Chinese Government said the law was needed to deal with separatism and foreign interference in the semi-autonomous region.
Many critics say the law will ban dissent and destroy the promised autonomy when Britain surrendered the territory to Beijing in 1997 under “one country, two systems”. While, Israeli prime minister, Benjamin Netanyahu signaled to delay the annexation of the Palestinian west bank after being strongly opposed by the international community.
The annexation of the area was scheduled to begin today. In the last election campaign, Netanyahu promised to annex the illegal settlements of Israel and the Jordan Valley as part of a peace plan designed by the Donald Trump administration.
Yesterday, Indonesian Rupiah closed down 0.14 percent to 14,265 per US Dollar and the Jakarta Composite Index (JCI) was parked at 4,905.39 after having edged up 0.07 percent compared to the previous trade. For today, analysts assess that there is a sentiment that can hold both movements. One of them is UK economic growth data which contracted 2.2 percent.
It is feared to have the potential to slow down global economic growth and the threat of a wide-open recession. In addition, investors rated the US economic data better than expected, amid concerns over the COVID-19 case and trade relations with China.
Traders also monitored news that Hong Kong for the first time banned its biggest annual protest march, a decision linked to outbreak control measures that took place after Chinese lawmakers approved national security legislation sweeping through the former British colony.
Today the same index is expected to move between 4,700 - 5,100 and the local currency around 14,190 - 14,330. Shares that can be considered today are PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Telkom Indonesia Tbk (IDX: TLKM), PT Astra Agro Lestari Tbk (IDX: AALI), PT Bank Central Asia Tbk (IDX: BBCA), and PT Gudang Garam Tbk (IDX: GGRM).
Then, PT Semen Indonesia Tbk (IDX: SMGR), PT Bank Mandiri Tbk (IDX: BMRI), PT Aneka Tambang Tbk (IDX: ANTM), PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), and PT Perusahaan Gas Negara Tbk (IDX: PGAS).
May you have a profitable Day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia
