China' foreign ministry spokesman said, the country has a right to sail ships near the Natuna islands - Photo by Maritime Executive

JAKARTA (TheInsiderStories) – Good Morning! China’ foreign ministry spokesman said, the country has a right to sail ships near the Natuna islandsA day earlier, Indonesian government saying there was “no legal basis” to Beijing’ claims that its ships could sail in Indonesia’s exclusive zone in the South China Sea.

He told reporters, China’ position and propositions comply with international law, including UNCLOS (the United Nation’ Convention on the Law of the Sea). Indonesia has summoned Chinese Ambassador Xiao Qian and lodged a protest after confirming that 63 Chinese fishing boats and two coast guard ships had sailed into Natuna islands since Dec. 19.

On the flood disaster, National Disaster Mitigation Agency and Assessment and Application of Technology Agency planned to modify the weather in a bid to reduce the high intensity of rain in Jakarta Greater Areas. The agencies targeted a 30 – 50 percent reduction of rainfall that will shower the areas. 

While, starting Jan. 1, the government has increased the cigarette tax by 23 percent. Previously, Finance Minister Sri Mulyani Indrawati regulated the new policy through ministerial decree No. 152/PMK.010/2019 on tobacco tariff dated on Oct. 18.

In Asia, Japan’ prime minister Sinzo Abe stressed the need for continued private exchanges between Seoul and Tokyo during his recent meeting with President Moon Jae-in. He also noted that cooperation is a must, especially in light of uncertainties regarding North Korea.

On the two countries’ historical dispute, Abe called on Seoul to stick to the 1965 treaty that normalized ties, but added the two sides agree that talks on the matter should continue.

On the trade deal, the deadline for implementing of United States (US) import tariffs on products from China from 10 to 25 percent for US$267 billion is only 11 days left. The two countries will begin the fourth round of trade negotiations in Washington this week.

The US officials will be led by Robert Lighthizer, the US trade representative and Chinese team led by deputy prime minister Liu He. In a press conference, US’ President Donald Trump said that trade negotiations with China were very complicated and there was a possibility he had pushed back the deadline from March 1.

Still from US, the Federal Reserves of New York bought no agency mortgage-backed securities in this week from the previous week bought US$825 million. In a move to help the housing market begun in Oct. 2011, the central bank has been using funds from principal payments.

On Thursday, Indonesian Rupiah edged down 0.20 percent to 13,893 and at the middle rate of Bank Indonesia strengthened 0.04 percent to 13,895 over the Greenback. And the Jakarta Composite Index (JCI) closed at 6,276.84 from earlier at 6,303.53.

Some analysts rated, the technical sentiment colored the weakening of the two major instruments at the beginning of this year. However, Indonesia’ low inflation has the potential to cause the local currency and the stock index to strengthen again.

Today, the rated the Rupiah move between 13,850 – 13,925 per US dollar. While the JCI in the range 6,198 – 6.402.

The stock to be wathc are PT Telkom Indonesia Tbk (IDX: TLKM), PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Nippon Indosari Corporindo Tbk (IDX: ROTI), PT Unilever Indonesia Tbk (IDX: UNVR), PT Indofood Sukses Makmur Tbk (IDX: INDF), PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), PT HM Sampoerna Tbk (IDX: HMSP), PT Gudang Garam Tbk (IDX: GGRM), and PT Bank Central Asia Tbk (IDX: BBCA).

May you have a profitable day!

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