JAKARTA (TheInsiderStories) – Good Morning! Indians are defying bans on assembly in cities nationwide as anger swells against a citizenship law seen as discriminatory against Muslims, following days of protests and clashes that have left nine dead and hundreds of demonstrators were detained on Thursday.
Indian Prime Minister Narendra Modi‘ move to drive the Citizenship Amendment Act through the Parliament of India last week has ignited nationwide protests that have often turned violent. The CAA grants citizenship to Hindus, Sikhs, Jains, and Christians from Pakistan, Afghanistan, and Bangladesh but blocks naturalization for Muslims.
From China, its central bank injected RMB280 billion (US$40 billion) into the financial system via 7 and 14-day reverse repos on Thursday. It is the biggest injection since January and follows a CNY 200 billion pump the day before, after 20 straight days of no reverse repos. The 7-day rate was left unchanged at 2.5 percent. The 14-day reverse rate was also left on hold at 2.65 percent, following a 5bps cut on Wednesday.
On the same day, the world’ second-largest economy released another list of United States (US) products that will be exempted from the first round of additional tariffs on US products. The exemption list will be valid from Dec. 26, 2019 to Dec. 25, 2020.
One day after US President Donald Trump was impeached by the House of Representatives, Speaker Nancy Pelosi said she will not send the articles of impeachment to the Senate or choose impeachment prosecutors until the Senate agrees on rules governing the process. The Senate is not authorized to begin a trial until it receives the articles from the House.
Still from the US, two Federal Reserve (Fed) officials said they expect to hold interest rates steady for the time being, even as Trump once again lobbied for lower borrowing costs. The presidents of the Dallas and Boston Fed banks, in separate appearances Tuesday in New York, both sounded upbeat on the US economy’s likely prospects in 2020 and comfortable with the Fed’s current policy stance.
Meanwhile, the Bank of England (BoE) voted by a majority of 7-2 to hold Bank Rate at 0.75 percent during its December policy meeting on Thursday, as policymakers took a wait-and-see approach following Prime Minister Boris Johnson’s election victory and its possible implications on Brexit. Two members have voted for the second month in a row for a rate cut amid concerns about the job market.
Then, Andrew Bailey, the BoE’ former deputy governor, has been selected as the British central bank’s governor. The appointment is set to be announced by finance minister Sajid Javid as early as Friday. Bailey currently serves as the head of the Financial Conduct Authority.
From domestic, President Joko Widodo admitted he had obtained several candidate names for the Corruption Eradication Commission supervisory body. The president ensured those who will be appointed came from various backgrounds such as judges, prosecutors, former commission’s chairs, economists, academicians, and criminal law experts.
Alleged terrorists of the radical group Jamaah Ansharut Daulah (JAD) arrested recently in Papua averred that the group had expanded its territory to Papua, spokesman of the Indonesian Police Senior Commissioner Asep Adi Saputra stated.
The ministry of state-owned enterprises will appoint the former deputy minister of energy and mineral resources Arcandra Tahar as president commissioner of PT Perusahaan Gas Negara Tbk (IDX: PGN). He will replace the current chief commissioner Wiratmaja Puja.
The West Java provincial government has approved the investment plan to build a data center owned by retail giant Amazon Web Service in Karawang. Last June, the governor Ridwan Kami said that his party had pocketed the investment plan commitment which was reportedly reached Rp1 trillion.
Today, President Widodo will witness a presentation of the new capital’s design before starting construction in 2021. Then, the coordinating minister for economic affairs will hold the last’s media briefing for this year. Meanwhile, the ministry of energy and mineral resources will hold a discussion on electricity supply for smelters by the directorate general of electricity.
Finance Minister Sri Mulyani Indrawati is scheduled to visit tax offices. PT Pertamina will hold a media briefing regarding the restructuring process of Tuban Petro. PT Uni-Charm Indonesia Tbk. will be listed on the Indonesia Stock Exchange.
On Thursday, Indonesian Rupiah edged up 0.06 percent to Rp 13,988 A US Dollar and the Jakarta Composite Index (JCI) closed up 0.69 percent to 6,287.25 compared to the previous day. The analysts rated the announcement of the monetary policy by BI has driven by the direction of the major instrument.
The stocks to be watch for today are Aneka Tambang Tbk (IDX: ANTM), PT Astra Agro Lestari Tbk (IDX: AALI), PT London Sumatera Indonesia Tbk (IDX: LSIP), PT Sampoerna Agro Tbk (IDX: SGRO), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Bank Central Asia Tbk (IDX: BBCA), PT Bank Mandiri Tbk (IDX: BMRI), and PT Telkom Indonesia Tbk (IDX: TLKM).
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia