Senate Set to Reject Trump National Emergency Declaration
The White House has a high wall around it to protect the security of President Donald Trump and the government officials from the fury of protesters who have been holding anti-racism demonstrations in the United Staes over the past week - Photo by the White House

JAKARTA (TheInsiderStories) – Good Morning! The White House has a high wall around it to protect the security of President Donald Trump and the government officials from the fury of protesters who have been holding anti-racism demonstrations in the United Staes (US) over the past week. It said, the fence will remain outside the presidential palace until June 10.

Security officers from the federal prison bureau were also alerted to guard around the building. As known thousands of mourners has rally caused of the death of a-46 year-old black man George Floyd.

From Europe, Russian President Vladimir Rutin declared a state of emergency in the aftermath of a massive oil spill in the Arctic Circle, which is among eight countries. This decision was issued by him after around 20,000 tons of oil spilled into the river from the power plant.

This oil spill occurred on May 29. At the day, there was an oil leak from an industrial plant tank operated by a subsidiary of the world’s largest producer of palladium, nickel, platinum and copper, Norilsk Nickel.

In Asia, tensions between China and India continue to heat up. The tension even triggered an increase in the number of troops and weapons by the two border countries.

In Indonesia, the Financial Services Authority (FSA) is currently completing rules to accelerate the planned merger of non-bank financial firms. This rule was made to facilitate the integration of companies affected by COVID-19 but were disrupted in terms of capital.

While, Indonesia Stock Exchange (IDX) said that the trading hours of trading operations will be adjusted again as usual includes other trading rules such as the lower auto rejection limitof 5 percent and halt trading scheme. Director at IDX, Laksono Widodo said, that the policy would be announced further after discussions with the FSA.

Update on COVID-19 cases, the number infection recorde 6.68 million as of Friday morning. A total of 3.23 million people out of this number were declared successful, 391,997 people died, and 3.06 million patients were still infected.

On Thursday, Indonesian financial market received a positive catalyst from global sentiment, especially US non-manufacturing index for the period of May and April factory orders. The non-manufacturing index released by ISM rose to 45.4 in May and factory orders declined 13 percent in April.

The analysts rated, the data helps investor confidence in risk assets including Rupiah. While, the decision of the European Central Bank which is expected to add to the rescue program stimulus with an additional EUR500 billion (US$568.18 billion) for asset purchases will be a driver of the stock market.

Not only that, Chancellor Angela Merkel’ coalition approved a EUR130 billion stimulus package to spur short-term consumer spending and make business investing again also a positive sentiment for the stock market. They said, market also seems optimistic about the plan to reopen the domestic economy with the extension of large-scale social restrictions in DKI Jakarta that will enter a transition period.

On Thursday, Indonesian Rupiah stayed at 14,095 against the US Dollar and the Jakarta Composite Index (JCI) closed down 0.5 percent to 4,916 compared to prior day. Today the local currency its expecting move in the range 13.950 – 14.120 and the stock index between 4,835 to 4,960.

Stocks to be watch for today are PT Gudang Garam Tbk (IDX: GGRM),  PT United Tractors Tbk (IDX: UNTR), PT BumI Serpong Damai Tbk (IDX: BSDE), PT Bank Mandiri Tbk (IDX: BMRI), PT Aneka Tambang Tbk (IDX: ANTM), PT AKR Corporindo Tbk (IDX: AKRA), PT Bank Central Asia Tbk (IDX: BBCA), PT Telkom Indonesia Tbk (IDX: TLKM), PT Astra International Tbk (IDX: ASII), PT Adhi Karya Tbk (ADHI), PT Vale Indonesia Tbk (IDX: INCO), and PT Medco Energy International Tbk (IDX: MEDC).

US$1: EUR0.88

May you have a profitable Day!

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