United States President Donald Trump - Photo by the White House

JAKARTA (TheInsiderStories) – Good Morning! The United States (US) House of Representatives approved a US$1.4 trillion spending package to avert a partial government shutdown on Saturday. Now, the spending package heads to the Senate.

Its reported, the largest expenditure is for the defense, which would get a total of $738 billion for this year including authorized the creation of President Donald Trump’ Space Force. The massive spending package also to cover a higher-than-average budget deficits over the coming decade of $960 billion in the 2019 fiscal year, and average annual deficits of $1.2 trillion over the 2020 and 2029 fiscal years.

Still from the US, Trump is on track to be impeached by the House with the majority now in favor ahead of voting. The debate begins today on the two articles of impeachment that charge Trump with abuse of power and obstruction of Congress. 

From Asia, Japan’ exports fell 7.9 percent in November compared to last year driven by fewer shipments of cars and construction machinery to the US and chemical products to China, marked the longest run of declines in exports since a 14-month ago. In volume, exports dropped 5.0 percent, the fourth consecutive month of declines.

By region, exports to China, Japan‘ biggest trading partner, lost 5.4 percent, down for the ninth month as shipments of chemicals and car parts declined. While, exports to Asia, which account for more than half of Japan’ overall exports, dropped 5.7 percent. The shipments to the US declined falling 12.9 percent hurt by reduced shipments of cars, construction machinery and car parts.

The nation’s overall imports sank 15.7 percent in annual basis, marking their largest decline since Oct. 2016. The trade balance posted a deficit of 82.1 billion yen.

In North America, the central bank of Brazil decided to reduce the annual benchmark interest rate by 0.5 percentage points to 4.5 percent. The Bank predicted the industrial sector also struck an optimistic note on the economy, forecasting a 2.5-percent expansion in gross domestic product (GDP) in 2020, following a 1.2-percent growth in GDP in 2019.

On the commodity sector, oil prices  hitting a three-month high following the Energy Information Administration is expected to report a decline of about 1.3 million barrels for the week ended Dec. 13. The American Petroleum Institute said stockpiles jumped by 4.7 million barrels when it reported its measure of weekly oil inventories late today.

From the country, Bank Indonesia (BI) starts the board of governors’ meeting starting today before make it the decision on Thursday (12/19). Last November, the central bank kept the seven days reverse repo rate at 5 percent, deposit facility rate 4.25 percent and lending facility rate 5.75 percent at the latest meeting

Then, ministry of trade along with the directorate general of customs and excise of the finance ministry to sign the border data exchange and PT Putra Mandiri Jembar Tbk (IDX: PMJS) listing on the Indonesia Stock Exchange

On Tuesday, Indonesian Rupiah closed up 0.1 percent to 13,996.5 a US dollar and the Jakarta Composite Index (JCI) strengthened by 0.53 percent to 6,244.35 compared to yesterday. They rated, the sentiment that dominates the market is still around US and China trade relations.

Today, the analysts predicted the local currency move in the range of 13,980 to 14,020 over the Greenback. While, the stock index between 6,089 – 6,261.

The observers recommended stocks to be watch for today are PT Media Nusantara Citra Tbk (IDX: MNCN), PT Indika Energy Tbk (IDX: INDY), PT Kalbe Farma Tbk (IDX: KBLF), PT Medco Energi International Tbk (IDX: MEDC), and PT Ciputra Development Tbk (IDX: CTRA), and PT Pakuwon Jati Tbk (IDX: PWON).

Then, PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Bank Central Asia Tbk (IDX: BBCA), PT Bank Mandiri Tbk (IDX: BMRI), PT Jasa Marga Tbk (IDX: JSMR), PT Telkom Indonesia Tbk (IDX: TLKM), PT HM Sampoerna Tbk (IDX: HMSP), PT Indofood Sukses Makmur Tbk (IDX: INDF), and PT Chandra Asri Petrochemical Tbk (IDX: TPIA).

May you have a profitable day!

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