JAKARTA (TheInsiderStories) — Good morning! United States (US) midterm election impacted Asian stocks market. The market concerned about President Donald Trump fiscal policy, regarding Democrat’s winning over parliament.
Yesterday, most of Asian index weakened. Nikkei closed minus 0.28 percent, TOPIX corrected by 0.42 percent, CSI dropped by 0.65 percent, and KOSPI decreased by 0.52 percent. But Indonesia’s stocks market wasn’t impacted by the regional downturn.
The Jakarta Composite Index closed in green territory to 5,939.88. And Rupiah continues its strengthening to 14,764 against US dollar. One of the supporting factors is Bank Indonesia’s monetary action and foreign exchange reserves data.
Today, Bank of Indonesia will release third quarter residential property price survey.
At the end of October 2018 the country’s reserves slightly up to $115.2 billion, or higher than previous month at $114.8 billion. Furthermore, finance ministry announced the auction plan of six series of Sharia and SUKUK bond with target indicative Rp4 trillion (US$270.27 million) on Nov. 13.
Going to bilateral trade issues, the Government to soon finished the ratification of seven agreement. Those are First Protocol to Amend the AANZFTA Agreement, Agreement on Trade in Services under the ASEAN-India FTA (AITISA), Third Protocol to Amend the Agreement on Trade in Goods under ASEAN-Korea FTA (AKFTA), Protocol to Amend the Framework Agreement under ASEAN-China FTA (ACFTA), ASEAN Agreement on Medical Device Directive (AMDD), Protocol to Implement the 9th ASEAN Framework Agreement on Services (AFAS-9), and Protocol to Amend Indonesia-Pakistan PTA (IP-PTA).
The ratification will be stipulated as Presidential Regulation. Coordinating Minister for Economy, Darmin Nasution said he will report the regulation draft to President Joko Widodo.
Related to Lion Air JT-610 PK-LQP crash, search and rescue operation continues. But authorities can’t assure when they will end the cockpit voice recorder and victims search, as the operation has been going on for 10 days.
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please visit our new website to get more insight on Indonesia’s economy: www.tisintel.com