Statistic Indonesia has agenda to release August' inflation data - Photo: Special

JAKARTA (TheInsiderStories) – Good Morning! Today, Statistic Indonesia has agenda to release August’ inflation data. In the previous month, the country posted a deflation 0.10 percent with the Consumer Price Index at 104.95.

The inflation rate in the calendar year (YTD) 2020 is 0.98 percent and the annual (YoY) inflation rate is 1.54 percent. The core component in July 2020 experienced inflation of 0.16 percent, 1.03 percent YTD and 2.07 percent YoY.

At the same day, finance ministry will hold an auction of State Sharia bond with an indicative target of Rp8 trillion. The notes consists of one series of State Treasury Bills , SPN-S. and four Project Based SUKUK.

In Asia, India and China relations are entering a critical phase again following renewed conflict along the disputed of Himalayan border after several rounds of high-level military talks failed to end a months-long stalemate. The defense ministry in New Delhi said that its troops were able to stop the movement of Chinese troops from taking control of more border areas in violation of existing agreements. However, Beijing denies its troops have entered India.

While, Thai government plans to reopen Phuket to bring in foreign tourists in October. This step was taken by the government in order to earn income and return workforce in the tourism sector.

Yesterday, Indonesian Rupiah closed up to 14,554 per US Dollar and the Jakarta Composite Index fell 2.02 percent to 5,238.49 compared to the previous day. Analysts believed that the local currency managed to adjust for its seasonal weakness during the first half of August and turned stronger at the end of this month, thanks to the significant weakness in the American Dollar.

The weakening of the Greenback, they said, was triggered by a dovish speech from the chairman of the Federal Reserve, Jerome Powell, which gave a signal to keep interest rates at low levels for a long time. The domestic financial markets still facing the challenges like foreign outflows but have not been replaced by significant inflows.

With these assumption, they rated, the stock index to move in the range 5,220 – 5,320 and the local currency is between 15,500 – 15,550. Shares to watch for today are PT Telkom Indonesia Tbk (IDX: TLKM), PT HM Sampoerna Tbk (IDX: HSMP), PT Medco Energi International Tbk (IDX: MEDC), and PT Astra International Tbk (IDX: ASII).

Then, PT Charoen Phokphand Indonesia Tbk (IDX: CPIN), PT Japfa Comfeed Indonesia Tbk (IDX: JPFA), PT London Sumatera Plantation Tbk (IDX: LSIP), PT Bank Mandiri Tbk (IDX: BMRI), PT Bank Central Asia Tbk (IDX: BBCA), and PT Chandra Asri Petrochemical Tbk (IDX: TPIA) stocks.

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by Linda Silaen, Email: linda.silaen@theinsiderstories.com.