JAKARTA (TheInsiderStories) – Good Morning! Two important law Number 1/2020 concerning State Financial Policy and Financial System Stability for Handling Corona Virus Disease and mining law will be legislated today by House of Representative. The “controversial” bill has been get get criticism from various circles.
Some judged the government regulation lieu of law has been violating existing rules while the mining act is only give benefits for certain parties. While, President Joko Widodo will lead a limited meeting to evaluates the implementation of large-scale social restriction.
Ministry of foreign affairs noted as of Sunday (05/10), at least 734 Indonesian migrants were exposed to COVID-19, spread in 33 countries or territories and 20 cruise ships. Of these figures, there were 321 people reportedly still being treated, 372 had recovered and 41 had died.
On Tuesday, the government will auction Rupiah’ state bond to meet the funding targets in the 2020 State Budget around Rp1,400 trillion (US$93.33 billion) with indicative targets as much as Rp20 trillion. Finance ministry office offered four series namely SPN12200814, SPN12210429, FR0081 series Government Bonds, FR0082, and FR0080 in today’ auction.
Various parties report, the number of positive cases worldwide recorded 4.25 million people, of which 286,986 have died, 1.52 million recovered, and 2.44 million are still infected with COVID-19. Wuhan, the origin of this deadly virus, again reported a new positive case.
The largest contribution of the number of cases of infection held by the United States amounted to 1.38 million people, with details of 260,624 people declared cured and 81,759 patients died. From Britain, Prime Minister Boris Johnson has plans to end lockdown and announced all pupil schools could return before summer holiday end.
In Asia, Saudi Arabia announced a voluntary to cut of 1 million barrels per day (bpd) to sustain recovery in the global energy market. One of the largest oil producer is targeting to pump oil below 7.5 million bpd by June, below the oil cartel’ official target of 8.5 million bpd.
Following this positive news, the price of West Texas Intermediate crude contract in June 2020 rebounded and surged 2.55 percent to as low as US$25.37 a barrel. And, Brent crude for July contract rose 0.26 percent to as low as $31.05 per barrel.
On Monday, Indonesian Rupiah strengthened 0.27 percent to 14,850 against the US Dollar and the Jakarta Composite Index rose 0.91 percent to 4,639.10 compared to last week. Today, the analysts rated the local currency will move in the range and the stock index between 4.700 – 4,900.
The stocks to be watch for today are PT Astra International Tbk (IDX: ASII), PT Wijaya Karya Tbk (IDX: WIKA), PT Jasa Marga Tbk (IDX: JSMR), PT London Sumatera Plantation Tbk (IDX: LSIP), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Telkom Indonesia Tbk (IDX: TLKM), PT Semen Indonesia Tbk (IDX: SMGR), PT Summarecon Agung Tbk (IDX: SMRA), PT Bank Central Asia Tbk (IDX: BBCA(, and PT Gudang Garam Tbk (IDX: GGRM).
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia