JAKARTA (TheInsiderStories) – Good Morning! United States (US) President Donald Trump criticism of the Federal Reserve (Fed) policy again by saying the central bank had put the country at a competitive disadvantage with other countries and calling for negative interest rates.
At the same days, the New York Fed added US$111.91 billion to financial markets. The intervention came in two parts via overnight repurchase agreements $76.943 billion and came from a 14-day repo worth of $34.966 billion.
From Indonesia, the government and parliament will discuss the preparation of the 2020 National Legislation list, specifically related to the Omnibus law. The state prepared the new law to simplify the regulation across the nation.
In the same day, Indonesian President Joko Widodo will give a speech at the Regional Leadership Coordination Forum in Sentul, Bogor, West Java. In Jakarta, vice president Ma’ruf Amin will give a remarks at the International Sharia Economic Festival held by Bank Indonesia.
The sharia business especially halal goods and tourism its expecting could be an effective recipe to overcome Indonesia’ current account deficit. While, ministry of trade Agus Suparmanto, will conduct a coordination meetings with all stakeholders to check and maintain the availability of goods and keep the price low ahead of Christmas and the end of the year.
Yesterday, Indonesia cement association reported, the domestic cement sales rose 1.9 percent to 7.3 metric tons (MT) of cement during October. The largest producer, PT Semen Indonesia Tbk (IDX: SMGR) jumped 41 percent to 4.8 MT of cement in the same month.
In addition, defense minister Prabowo Subianto received Saudi Ambassador to Indonesia Isam Abed Al-Thaqafi. During the meeting, they discussed ways of cooperation between the two countries in the field of defense.
Moreover, the government won fresh funds of Rp8 trillion (US$571.43 million) from the sharia bond auction offer, from the total incoming bids of Rp24.32 trillion. The low absorption of these funds is due to high returns desired by investors.
On Monday, Indonesian Rupiah edged up 0.09 percent to14,054 from the previous day at 14,067 against the US dollar and Bank Indonesia’ middle rate strengthened 0.13 percent to 14,059 versus the Greenback from prior day.
The Jakarta Composite Index (JCI) rebounded 0.52 percent to 6,180.99 compared to last week. According to analysts, foreign investors are still pulling out of the stock market. Based on the bourse data, foreigners recorded a net sell of Rp508.98 billion in all markets.
They said, the strengthening of the JCI and Rupiah was inseparable from the entry of domestic investors amid the flight of foreign funds from the stock market. For today, the observes saw that the same situation will happen today.
Base on various data, the economist estimating the local currency will move in the range 13,970 to 14,070 over the American Dollar. While, the stock index between 6,150 – 6,220.
The stocks to be watch for today are SMGR, PT Astra International Tbk (IDX: ASII), PT Wika Beton Tbk (IDX: WTON), PT HM Sampoerna Tbk (IDX: HMSP), PT Bank Rakyta Indonesa Tbk (IDX: BBRI), PT Bank CIMB Niaga Tbk (IDX: BNGA), PT Aneka Tambang Tbk (IDX: ANTM), PT Vale Indonesia Tbk (IDX: INCO), PT AKR Corporindo Tbk (IDX: AKRA), and PT Indika Energy Tbk (IDX: INDY).
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia