JAKARTA (TheInsiderStories) – Good Morning! Statistic Indonesia will announce the latest export import data in July of 2019. Last month, the country’ trade surplus narrowed to US$200 million from a $1.71 billion in the same month in 2018, as exports fell 8.98 percent in annual basis and imports rose 2.80 percent.
During the first half (1H) of the year, the trade balance recorded a deficit of $1.93 billion, compared with a deficit of $1.16 billion in the same period of 2018, the bureau said. The Center of Reform on Economics projects that trade balance in July will return a deficit of $1.5 billion and accumulatively the deficit will be at $3.4 billion.
Yesterday, President Joko Widodo said his ready to announce the new cabinet member and give a clue, 55 percent of the cabinet member from professional circles while the rest of it from the coalition parties. He added, the announcement could be before or after his inauguration on Oct. 19.
The Investment Coordinating Board in collaboration with the Semarang City Government, organizes the Market Sounding of the Government Cooperation Project with Business Entities Waste Management to Electric Energy (PSEL) of Semarang City. The PSEL project aims to address the increasing waste problem in Semarang City, while the Jatibarang capacity is expected to exceed its capacity in the next two years. It is hoped that the technology that investors will use can reduce more than 80 percent of Semarang city’ waste generation.
The Semarang City PSEL Project is included in the National Strategic Project as well as one of the projects in 12 National Priority Cities listed in Presidential Decree Number 35 of 2018 concerning the Acceleration of the Development of Waste Processing Installation into Electric Energy Based on Environment-Friendly Technology.
Bank Indonesia (BI) will simultaneously implement the QR Indonesian Standard (QRIS) on Jan. 1, 2020 after officially launched. on August 17. PT Rintis Sejahtera, the organizer of the PRIMA network, said some important points include the maximum QRIS transaction limit of Rp2 million (US$140.85) per transaction, and the maximum limit per day or month adjusted to the organizer’ risk appetite. While, the prevailing price schemes will be uniform.
The company said, the implementation will be divided into three stages. First stage, domestic transactions for retail by residents using QRIS. Second, inbound cross border transactions using QRIS MPM and third outbound cross border transactions using QR standards that apply in the destination country.
From Britain, Labor Party leader Jeremy Corbyn has sent a letter to the leaders of other political parties and senior backbenchers from across Parliament to lay out his plan to stop No Deal Brexit and aimed to bring down Prime Minister Boris Johnson. He wants the United Kingdom have a trade relation with the European Union.
Japan’ private machinery orders, excluding volatiles, – a leading indicator of capital expenditure rose 13.9 percent in June, following a 7.8 percent drop in the previous month. The unexpectedly solid increase reflected a 30.5 percent rise in orders from non-manufacturers (excluding volatiles), which offset a 1.7 percent drop in orders from manufacturers on mont to month period.
Its also reported Japan‘ private machinery orders, excluding volatiles, rose 7.5 percen in the second quarter (2Q) of 2019. However, the total value of private machinery orders (excluding volatiles) in 2Q reached only 91.2 percent of industry’ outlook.
Yesterday, Indonesian Rupiah closed up 0.56 percent to 14,245 against the US Dollar. Some analysts rated various global issues has limited impact to the market. The weakening factor of the Argentine Peso has been ignored by investors and focusing on the trade war.
They estimated Rupiah still be in the range of 13,900 – 14,300 per US dollar. The analysts estimate that there is still a chance for the Rupiah to strengthen until the end of the year.
The Jakarta Composite Index (JCI) also closed up 0.91 percent to 6,267.33 from the prior day. Based on data from the Indonesia Stock Exchange, foreign investors booked a net sell of Rp463.75 billion (US$32.65 million), a net sell for the third consecutive day.
The total value of transactions that took place on the trading floor today reached around Rp8.35 trillion with a trading volume of around 15.67 billion shares.
For today, analysts recommended PT AKR Corporindo Tbk (IDX: AKRA), PT Waskita Karya Tbk (IDX: WSKT), PT PP Tbk (IDX: PTPP), PT Surya Citra Media Tbk (IDX: SCMA), PT Erajaya Swasembada Tbk (IDX: ERAA), and PT Bank Tabungan Pensiunan Nasional Syariah Tbk (IDX: BTPS) to be watch.
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia