JAKARTA (TheInsiderStories) - Good Morning! United States (US) stimulus and climbing COVID-19 cases weighed globally financial market on Thursday. Treasury secretary, Steven Mnuchin, said negotiations over a new COVID-19 aid package were making progress but some lawmakers from the both side rated the negotiations still need long period.
Attention on the stimulus package grew sharper after new data showed the number of claims for jobless benefits jumped to a near three-month high. The Labor Department reported that 853,000 people filed initial jobless claims last week, up from 716,000 a week earlier, and the number of continuing claims also rose for the first time since September, to 5.757 million from 5.527 million a week earlier.
From South America, Brazil faces US$7 billion hole in 2021 State Budget from emergency aid payments. And, in Britain, Prime Minister Boris Johnson sees there was a “strong possibility” the nation could split from the European Union with a trade agreement.
In Indonesia, the government has sold a total of Rp397.56 trillion ($28.95 billion) of state bonds to Bank Indonesia through a private placement scheme until Dec. 10 for the public goods financing needs. In the latest issuances, the government sold state debt securities of Rp100.53 trillion to the central bank.
In the commodity market, oil prices climbed nearly three percent on Thursday, with West Texas Intermediate crude and Brent hitting levels not seen since early March, on hopes of a speedier recovery. Both rose 2.8 percent to around $47 and $52 a barrel compared to previous day.
Some analysts rated, the optimism for the COVID-19 vaccine, which opens opportunities for improvement in economic activity and demand for oil, is the main support for the rising prices. The bullish sentiment offsets a surge in US crude oil inventories which suggest there is still plenty of supplies available until last week.
Yesterday, Indonesian Rupiah closed down 0.24 percent to 14,130 versus the Greenback and the Jakarta Composite Index dropped 0.18 percent to 5,933.70 from the prior day. The analysts rated both instruments weakened caused of lot of uncertainty in the global and domestic, especially on the US stimulus and tension in South China Sea.
With the various information, the local currency is estimating move between 14,100 - 14,150 against the US Dollar and the stock index in the range 5,850 - 6,000 today. There are no strong support in the financial market, they adds.
Stocks to be watch are PT HM Sampoerna Tbk (IDX: HMSP), PT Gudang Garam Tbk (IDX: GGRM), PT United Tractors Tbk (IDX: UNTR), PT Jasa Marga Tbk (IDX: JSMR), PT Bank Mandiri Tbk (IDX: BMRI), PT Aneka Tambang Tbk (IDX: ANTM), and PT PP Tbk (IDX: PTPP).
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia
