JAKARTA (TheInsiderStories) – Good Morning! After weeks of delay, United States (US) House of Representatives sent the impeachment charges against President Donald Trump to the Senate. At the same day, President Donald Trump signed the landmark of phase one trade deal with Chinese vice premier Liu He.
House Democrats indicated they would expand their case against Trump, saying they would include phone records and other documents provided over the weekend by Florida businessman Lev Parnas, who worked with Trump’ personal attorney, Rudy Giuliani, to pressure Ukraine.
The Phase One deal is expected to reduce tariffs and boost Chinese purchases of American farm, energy and manufactured goods while addressing some disputes over intellectual property.
Still from US, the commerce department will report on December retail sales. Economists predict that retail sales rose 0.3 percent last month and core retail sales, which exclude autos, are seen up 0.5 percent. At the same time, the Labor Department releases weekly initial jobless claims. Claims for first-time unemployment benefits are expected to have ticked up to 216,000.
In the country, the Special Task Force for Upstream Oil and Gas Business Activities sees 12 upstream oil and gas projects will operate throughout 2020 with an estimated gas production of 705 million standard cubic feet per day and oil of 3,000 barrels of oil per day. In the first quarter of 2020 is estimated four upstream oil and gas projects in operation.
From the capital market, fresh milk and ice cream producer, PT Diamond Food Indonesia Tbk is ready to list its initial shares on the Indonesia Stock Exchange on Jan. 22 by releasing 100 million shares through the mechanism. The company set the IPO price at the level of Rp915 a share and will raises Rp91.50 billion.
The company appointed PT Indo Premier Sekuritas as Underwriter for the IPO. Public offering period is carried out on Jan. 15 – 16 and allotment date on Jan. 20. The company has obtained the effective date from Financial Service Agency on Jan. 14.
This morning, President Joko Widodo will give a directive to capital market players in an annual meeting of the industry. Last year, Indonesia has set up Government Regulation Number 42 Year 2019 concerning Procedures for Examination in the Capital Market sector.
The new regulation is determined to carry out the functions, duties, and authority of regulating and supervising financial service activities, especially in the capital market sector.
Yesterday, Indonesian Rupiah closed down 0.11 percent to 13,695 and the middle rate of Bank Indonesia also dropped 52 points to 13,706 against the US Dollar. In addition, the Jakarta Composite fell 0.66 percent to 6,283.36 compared to prior day.
Analysts rated the American Dollar now oversold position and there is a possibility of a technical rebound and will give negative impact of the local currency. Today, the the said, the movement of the Rupiah is determined by external sentiment, especially the signing of a trade agreement between the US – China.
Looking on the various data, the observes expect the Rupiah will move in the range of 13,650 to 13,750 a US dollar. While, the JCI between 6,200 to 6,300.
The Stocks to be watch for today are PT Astra International Tbk (IDX: ASII), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Charoen Pokphand Indonesia Tbk (IDX: CPIN), PT Japfa Comfeed Indonesia Tbk (IDX: JPFA), PT Barito Pacific Tbk (IDX: BRPT), PT Semen Indonesia Tbk (IDX: SMGR), PT Telekomunikasi Indonesia Tbk (IDX: TLKM), PT Matahari Department Store Tbk (IDX: LPPF), PT United Tractors Tbk (IDX: UNTR), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Bank Mandiri Tbk (IDX: BMRI), and PT Bank Central Asia Tbk (IDX: BBCA).
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia