President of United States (US) Donald Trump expressed his willingness to work with China or other countries on the COVID-19 vaccine, despite rising tensions between Beijing and Washington - Photo by the White House Office

JAKARTA (TheInsiderStories) – President of United States (US) Donald Trump expressed his willingness to work with China or other countries on the COVID-19 vaccine, despite rising tensions between Beijing and Washington. On Tuesday, total fatalities rose by more than 1,000 in the US, the biggest single-day increase since early June.

While, finance minister, Sri Mulyani Indrawati reported, the Southeast Asia largest economy posted a deficit Rp257.8 trillion ($18.02 billion) in the first half of the year. The deficit amounts to 1.57 percent of the gross domestic product (GDP), the highest half-yearly deficit recorded since the first half of 2016

This year, the government targeting the budget deficit around 6.34 percent of the GDP. Now, the government is working to accelerate the disbursement of a Rp695.2 trillion stimulus package to boost the cooling economy and strengthen the healthcare system.

Yesterday, Indonesia and Switzerland agreed to increase cooperation in disaster management by a signing an agreement between National Disaster Management Agency and Swiss Development Cooperation. This memorandum of understanding further complements various other Indonesia-Swiss bilateral cooperation such as the Indonesia-EFTA, CEPA, free trade agreement and mutual legal assistance cooperation in the criminal field.

On Tuesday, the global financial market was buoyed by an agreement among European Union leaders on a EUR750 billion (US$652.5 billion) fund to prop up the economies. The deal allows the European Commission to raise billions of Euros on capital markets on behalf of all 27 states.

Its also drew support from expectations that US’ Senate could soon agree on a new stimulus package, as extended unemployment aid for millions of Americans will expire end of July. Trump was signed an effort to seek an additional $1 trillion in economic aid to tackle the virus.

Yesterday, Indonesian Rupiah strengthened 0.30 percent to a level of 14,741 per US Dollar and the Jakarta Composite Index (JCI) closed up 1.26 percent to 5,114.71 compared to prior day. The analysts explained, the good news from the success of the vaccine trial became positive hoist sentiment to the market.

In addition, there is also information on the transition of Blackrock investments to several countries, one of which is Indonesia. Other good news, there was positive news from Pfizer and BioNTech surrounding the anti-corona vaccine.

Other vaccine candidates from Oxford and AstraZeneca universities also showed positive immune responses in the initial trials. The dangerous virus that triggered COVID-19 has infected more than 14.7 million people worldwide and killed 609,000 of them.

Within the country, the Indonesian government is optimistic that economic growth will improve after Indonesia’ manufacturing data in June outperformed analysts’ expectations. Indonesia also has been working with China to develop an antidote. At the same time Bank Indonesia is a little calmer after positive global economic data.

Based on the various data, the local currency its expecting move between 14,700 – 14,800 versus the Greenback and the stock index around 5,062 and 5,150. The stocks that can be observed for today are PT AKR Corporindo Tbk (IDX: AKRA), PT Aneka Tambang Tbk (IDX: ANTM), PT Astra International Tbk (IDX: ASII), and PT Bank Rakyat Indonesia Tbk (IDX: BBRI).

Then, PT Bank Central Asia Tbk (IDX: BBCA), PT Bank Mandiri Tbk (IDX: BMRI), PT Alam Sutera Realty Tbk (IDX: ASRI), PT Charoen Pokphand Indonesia Tbk (IDX: CPIN), PT XL Axiata Tbk (IDX: EXCL) ), PT Jasa Marga Tbk (IDX: JSMR), PT Bukit Asam Tbk (IDX: PTBA), and Waskita Beton Precast Tbk (IDX: WSBP).

US$1: EUR0.87, Rp14,300

May you have a profitable day!

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