JAKARTA (TheInsiderStories) – Good Morning! Bank Indonesia have an agenda to releases foreign exchange reserves during last month on Tuesday. In the previous month the reserves stood at US$130.5 billion.
Various agenda has scheduled today in Indonesia. President Joko Widodo will lead a limited meeting on toll road projects in the National Strategic Projects for 2020 – 2024. Then, minister of finance, Sri Mulyani Indrawati will be a speaker at the World Bank Seminar.
She along with other economic ministers will launch the Interest Subsidy Scheme Program and Working Capital Guarantee for micro, small and medium businesses. Globally, the attention still on the COVID-19 outbreak and geopolitic issues across the world.
With the high demands, finance ministry hoisted ORI017 series of retail bond issuance targets from Rp10 trillion to Rp15 trillion (US$1.04 billion). Two days before the close of the offering period, the amount of interest was recorded at Rp11.4 trillion.
In Asia, China joined a global arms trade treaty spurned by the United States (US), taking a swipe at Donald Trump’ administration by accusing it of bullying, unilateralism and undermining efforts to combat global challenges. As reported, Trump intended to revoke the status of America as a signatory in the United Nation.
Its also reported US’ service industry activity rebounded sharply in June, almost returning to pre-COVID-19 pandemic levels. While, the Chinese economy recovered and its capital markets attracted money, creating an atmosphere for a healthy bullish market.
On Monday, the Jakarta Composite Index rose 0.3 percent to 4,988 and Indonesian Rupiah closed up by 0.23 percent to 14,490 against US Dollar compared to last week. Today, the stock index is estimating move in the range 4.930 – 4.960 and the local currency between 14,450 – 14,550 a US Dollar.
The analysts said, that with the easing of the demand for the US dollar, the pressure on the Rupiah began to diminish. However, the sentiment spread of the COVID-19 in the US is still looming and could at any time encourage risk-off sentiment in the market.
For today, they recommended PT Telkom Indonesia Tbk (IDX: TLKM), PT Astra International Tbk (IDX: ASII), PT indofood Sukses Makmur Tbk (IDX: INDF), PT Bank Negara Indonesi Tbk (IDX: BBNI), PT Astra Agro Lestari Tbk (IDX: AALI), PT Ace Hardware Indonesia Tbk (IDX: ACES), PT Alam Sutera Realty Tbk (IDX: ASRI), PT Gudang Garam Tbk (IDX: GGRM), PT Wijaya Karya Tbk (IDX: WIKA), PT AKR Corporindo (IDX: AKRA), PT Aneka Tambang Tbk (IDX: ANTM), PT HM Sampoerna Tbk (IDX: HMSP), PT Vale Indonesia Tbk (IDX: INCO), and PT Bukit Asam Tbk (IDX: PTBA) stocks to be watch.
May you have a profitable Day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our News to Get More information about Indonesia