Early this week, Indonesia sent a letter to United Nation secretary-general António Guterres opposing Beijing’ claims in the South China Sea - Photo: Special

JAKARTA (TheInsiderStories) – President of Indonesia Joko Widodo has scheduled to visit Natuna Island today. As known, the country has dispute with China on the areas and deployed fighter jets to the island.

Since last week, tensions between Jakarta and Beijing have risen since after dozens of Chinese fishing boats, backed by Chinese coast guard ships, had entered Indonesia’ Exclusive Economic Zone waters.

Beside, coordinating minister for maritime and investment affairs Luhut Panjaitan is scheduled to meet Shell executive officials and hold a nickel export meeting at his office. While, foreign minister Retno Marsudi will give an annual statement.

Then, Bank Indonesia is scheduled to announce foreign exchange reserve data in December 2019. In November, the central bank recorded the reserves of $126.6 billion, slightly higher from the previous month.

In addition, the ministry of energy and mineral resources will hold a briefing on the achievement of work programs in 2019 and 2020. And, the national audit board and the attorney general’ office held a joint press conference on state-owned insurance firm, PT Jiwasraya.

From global, Iran has launched an attack on United States (US)-led forces in Iraq, said the military official on Tuesday. He said, Tehran fired more than a dozen ballistic missiles from Iranian territory against at least two Iraqi military bases hosting by American-led coalition personnel. Iran has vowed retaliation for the killing of its military commander Qassem Soleimani by a US air strike on Jan. 3.

Oil price rose sharply after the Washington said its forces in Iraq were attacked by Iranian ballistic missiles, raising the prospect of a regional conflagration that could cut oil supplies. West Texas Intermediate crude futures rose almost 5 percent to $65.50 a barrel and Brent crude dropping nearly 1 percent.

Yesterday, the American Petroleum Institute reported US crude inventories fell by 5.9 million barrels for last week. Tomorrow, Energy Information Administration is expected to report a drop of about 3.6 million barrels when it issues official numbers.

Still from US, commerce department reported the country’ trade deficit fell to a more than three-year low in November as imports declined further and exports rebounded. The trade deficit down 8.2 percent to $43.1 billion.

The factory orders also fell 0.7 percent in November to mark the third decline in four months. Durable-goods orders were revised to show a 2.1 percent decline instead of 2 percent, orders for nondurable goods rose 0.6 percent. The closely watched index of non-defense orders excluding aircraft was revised up to a 0.2 percent gain from the initial estimate of 0.1 percent.

At the same day, the Federal Reserve Bank of New York added nearly $100 billion in short-term liquidity to financial markets. The intervention came in two parts, an overnight repurchase agreement operation totaled $63.9 billion and via a 14-day repo that worth of $35 billion. Demand for the longer-term repo was strong, with dealers offering the Fed $41.1 billion in securities.

On Tuesday, Indonesian Rupiah closed up by 0.47 percent to 13,878 versus US dollar followed the strengthened majority of Asian currencies after the market ignored the risk aversion sentiment triggered by tensions between the US and Iran. The Jakarta Composite Index also edge up 0.35 percent at 6,279.35 compared to Monday.

For today some analysts recommending PT Bank Tabungan Negara Tbk (IDX: BBTN), PT Bumi Serpong Damai Tbk (IDX: BSDE), PT Ciputra Development Tbk (IDX: CTRA), PT Perusahaan Gas Negara Tbk (IDX: PGAS), PT Telkom Indonesia Tbk (IDX: TLKM), PT United Tractors Tbk (IDX: UNTR), PT Bukit Asam Tbk (IDX: PTBA), PT Adaro Indonesia Tbk (IDX: ADRO), and PT Waskita Beton Precast Tbk (IDX: WSBP).

May you have a profitable day!

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