JAKARTA (TheInsiderStories) – Good Morning! Statistic Indonesia will report the latest trade balance data during March 2020 today. In February, the country experienced trade surplus worth of US$2.34 billion from January recorded trade deficit $870 million.
The value of exports reached $13.94 billion or rose 11 percent compared to last year and slightly higher 2.4 percent than last January at $13.41 billion. While, value of imports were $11.60 billion, down 18.69 percent compared to January 2020 and in annual basis up 5.11 percent.
At the same day, President Joko Widodo will hold limited meeting related to the COVID-19 impact mitigation program on micro, small and medium enterprises and the optimization of the domestic industry during the pandemic. While in Indonesia Stock Exhange, two new issuers listed their shares, PT Bumi Benowo Sukses Sejahtera Tbk (IDX: BBSS) and PT Bhakti Multi Artha Tbk (IDX: BHAT).
In Europe, Finance Minister Bruno Le Maire said, France economy will shrink by 8 percent this year due to the virus outbreak. On Monday, the country has extended its lockdown measures for another three weeks to May 11.
German Chancellor, Angela Merkel, is due to discuss an extension of the current lockdown measures and the possibility of a partial relaxation with state governors today. Then, Britain is set to extend its lockdown for another three weeks on Thursday.
There are around 1.4 million people now claiming jobless benefits in the country and said the struggle against the virus would take months rather than weeks. Its neighboring country, Spain allowed the reopening of some non-essential businesses.
Still from Europe, Italy’ central bank researchers said a two-month lockdown could cause annual GDP to fall by 11 percent. The country is reopening bookstores and laundries since yesterday.
In Asia, China’ general administration of customs reported that exports in March shrank by 6.6 percent and imports dropped by 0.9 percent, and the trade balance stood at $19.9 billion. ’ foreign trade volume reached RMB6.57 trillion (US$933.24 million), declining by 6.4 percent compared to same period in 2019.
From India, Prime Minister Narendra Modi is expected to lengthen the quarantine as he is scheduled to address the nation later in the day. The country’s initial 21-day quarantine period ended today.
South Korean President Jae In Moon will submit a supplementary budget plan to the National Assembly in the near time. He announced that his government looks to provide emergency cash payments for the first time in the country constitutional history as the country faces economic turbulence due to COVID-19.
The world’ fifth-largest crude importer reported in March the crude import fell 2.1 percent from a year earlier as demand for oil product has fallen amid the pandemic. South Korea shipped in 11.30 million tones of crude oil in March compared with 11.54 million tones a year earlier. Overall, the first-quarter crude imports were 35.33 million tones, down 4.9 percent from 37.15 million tones in 2019.
Worldwide there were 1.94 million cases and more than 120,000 deaths amid the virus outbreak until yesterday. In Indonesia, the task force for COVID-19 handling reported positive case 4,839, recovered 426, and toll death 459. Now, the agency monitored there are 139,137 indicating affected by the virus and patient under surveillance 10,482
On Tuesday, Indonesia Rupiah closed up 0.06 percent to 15,610 a US Dollar and the Jakarta Composite Index gained 1.78 percent to 4,706,491. Today the local currency to further strengthen in the range 15,500 – 15,600 and the stock index between 4,562 to 4,780.
Stocks to be watch for today are PT Bank Central Asia Tbk (BBCA), PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Mandiri Tbk (BMTI), PT Bank Negara Indonesia Tbk (BBNI), PT Bank Tabungan Negara Tbk (BBTN), PT Bank Permata Tbk (ISX : BNLI), PT Perusahaan Gas Negara Tbk (PGAS), PT Barito Pacific Tbk (BRPT), PT Waskita Karya Tbk (IDX: WSKT), and PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP).
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia