JAKARTA (TheInsiderStories) – Good Morning! During NATO meeting in London, United States (US) President Donald Trump stated he was willing to finalize the “phase I” trade deal with China after 2020 presidential election, sending stock prices down. He added that Washington is in a stronger negotiating position than the Chinese regime.
Amid “unclear” trade negotiation with China, US House of Representatives approved a bill that would require the Trump administration to toughen its response to China’ crackdown on its Moslem minority, demanding sanctions on senior Chinese officials, specifically Xinjiang Communist Party Secretary Chen Quanguo and export ban. The revised bill still has to be approved by the Senate before being sent to Trump.
At the same day, US House Democrats released a draft report summarizing their findings from an ongoing impeachment inquiry into Trump. The inquiry initiated by House Speaker Nancy Pelosi in late September, has found that Trump, “personally and acting through agents within and outside of the US government, solicited the interference of a foreign government, Ukraine, to benefit his reelection,” the report claimed. Immediately, Trump slammed the impeachment inquiry.
At the Organization of the Petroleum Exporting Countries in Vienna, Iraq and some other oil-exporting nations will support deeper production cuts of the organization and its allies. Iraqi oil minister Thamir Ghadhban said, hat his country and others would support deepening ongoing production cuts by 400,000 barrels to 1.6 million barrels a day.
In Indonesia, defense minister Prabowo Subianto pledged that he would strive to increase the budget for the country’ primary defense weapon systems caused the current budget was tight only around 0.8 percent of GDP. He said, other countries set it defense budget at 2 to 3 percent of their GDP.
On the mining bill, energy and mineral resources ministry and parliament agreed to form a working committee to continue the discussion of the law next week. Recently, the House decided to postpone the ratification of the bill before the end of the 2014 – 2019 period.
In addition, Indonesia has set a target of motorcycle production at 10 million by 2025, including one million units for export, said industry minister Agus Gumiwang Kartasasmita. Nearly 20 percent or two million of the total motorcycle production will be electric motorcycles.
During 2010 – 2018, the production and sales of motorcycles averaged 6.5 million per year. In the first ten months of this year, the production reached 6.2 million units, with domestic sales touching 5.5 million units and exports at 682,000 units. The export markets included Philippines, Thailand, Bangladesh, Cambodia, Malaysia, Vietnam, Japan, West Europe and Latin America.
On Tuesday, Indonesian Rupiah edged up 0.07 percent to level 14,115 and the middle rate of Bank Indonesia weakened 0.05 percent to 14,130 against the US dollar. And, the Jakarta Composite Index rose 0.06 percent to 6,133.90 from prior day.
For today, some analysts rated, the market still influences by inflation data and China PMI service index, trade war sentiment and the weakening of the Indian economy. Therefore, they projected that the local currency move in the range of 14,070 – 14,170 over the American Dollar. While the composite index betwwwn 5,989 – 6,189.
The stocks that should be observed for today are PT HM Sampoerna Tbk (IDX: HMSP), PT Gudang Garam Tbk (IDX: GGRM), PT Bank Central Asia Tbk (IDX: BBCA), PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Astra International Tbk (IDX: ASII), PT Unilever Indonesia Tbk (IDX: UNVR), PT Indofood Sukses Makmur Tbk (IDX: INDF), PT Indofood CBP Makmur Tbk (IDX: ICBP), and PT Jasa Marga Tbk (IDX: JSMR).
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia