Morning Briefing: Malaysia’s PM Offers Big Coalition

Malaysia' interim prime minister, Mahathir Mohammad has met the leaders of major political parties, including Anwar Ibrahim and those he defeated in the election on Tuesday (02/25) - Photo by Prime Minister Office

JAKARTA (TheInsiderStories) – Malaysia’ interim prime minister, Mahathir Mohammad has met the leaders of major political parties, including Anwar Ibrahim and those he defeated in the election on Tuesday (02/25). He proposed the idea of ​​a large coalition at the meeting.

On Feb. 24, the premier has announced his resignation to the king. Some analysts rated, his resignation was seen as an attempt to break his promise to hand over power to Ibrahim.

India has signed a military equipment deal worth of US$3 billion during President Donald Trump visit to the country. While, trade representative, Robert Lighthizer has scheduled to meet Britain’ trade minister Liz Truss this week, as the two allies gear up for post-Brexit trade talks.

Truss has said that her country would seek far-reaching reductions in US tariffs that would run alongside negotiations over its future relationship with the European Union (EU). Prime Minister Boris Johnson’ cabinet has agreed negotiating objectives for the EU final divorce talks and is set to publish them on Thursday.

In Indonesia, President Joko Widodo plans to meet Trump at the sidelines of US – ASEAN in Las Vegas next month. The two leaders would discuss the country’ plan to move its capital to East Kalimantan, a project which could see American investment and assistance, and the overall investment opportunities in Indonesia.

Other topics that would be discussed bilaterally with Trump include the possibility of the US International Development Finance Corporation taking part in a sovereign wealth fund that Indonesia plans to set up.

Widodo itself had schedule to lead a limited meeting on the new capital today. While, other minister become a speakers in various seminar.

Yesterday, the Financial Services Authority has decided to temporarily stop providing financial technology (FinTech) company registration slots in order to increase the supervision. There are currently 164 FinTech have registered in Indonesia.

On Tuesday, Indonesia Rupiah closed down 0.11 percent to 13,887 a US Dollar, the sixth straight day of losses since Feb. 18 and JISDOR also weakened by 0.22 percent to the level of 13,893 against the Greenback. The Jakarta Composite Index (JCI) also dropped 0.34 percent to 5,787 compared to prior day.

For today, the analysts sees the financial market still in the negative territory trigger by the external sentiment including the coronavirus outbreak. Flooding in Jakarta also sent another pressure to the market.

The support is the Indonesian government plans to give a stimulus for domestic economy due to the COVID-19 outbreak. Base on the various data, the observers guessed that the Rupiah would move in the range of 13,850 – 13,945 per US Dollar and the JCI between 5,725 to 5,850.

Shares that can be monitored today are PT Chandra Asri Petrochemical Tbk (IDX: TPIA), PT HM Sampoerna Tbk (IDX: HMSP), PT Astra International Tbk (IDX: ASII), PT Unilever Indonesia Tbk (IDX: UNVR), Bank Central Asia TBk (IDX: BBCA), PT Erajaya Swasembada Tbk (IDX: ERAA), PT Adaro Energy Tbk (IDX: ADRO), PT Jasa Marga Tbk (IDX: JSMR), PT AKR Corporindo Tbk (IDX: AKRA, PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT PP Tbk (IDX: PTPP), and PT Pakuwon Jati Tbk (IDX: PWON).

May you have a profitable day!

Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia