JAKARTA (TheInsiderStories) - Good Morning! President Joko Widodo and Prime Minister Malaysia Muhyiddin Yassin have a bilateral meeting today in State Palace, Jakarta. This will be Yassin‘ first official visit as prime minister since taking office in March 2020.
Among the issues are expected to be discussed are related to the palm oil discrimination, haze, potential investment and trade joint ventures, implementation of the Reciprocal Green Lane, and cooperation in addressing COVID-19.
Then, the statistics bureau has an agenda to release Indonesia’ economic growth throughout 2020 this morning. The economists assessed that economic growth throughout 2020 to contract by 2.2 percent. To support the economic recovery in this year, the government has increased the stimulus package and the state spending. It also believed that net exports will strengthen and could support the domestic economy.
From the United States (US), Democrats are preparing firs step to allows the fast-tracking President Joe Biden’ US$1.9 trillion COVID-19 aid package. Opposition from the Republican Party who submitted the $600 billion proposal could be overcome.
On Thursday, Indonesian Rupiah closed down 0.07 percent to 14,015 versus the Greenback and the Jakarta Composite Index (JCI) rose 0.48 percent to 6,107.26 compared to the previous day. The analysts rated, that the market anticipated the clarity of the government decisions to lockdown some cities during the weekend.
In addition, investors are looking forward to the release of Indonesia’ economic data for the fourth quarter of 2020. From outside, the sentiment comes from the US workforce data that rise to 174,000 and Sterling pressured against American Dollar ahead the Bank of England meeting which is expected to tend to dovish.
In addition, the market will be paying close attention to several US economic data that will be released tonight, such as jobless claims, factory orders, durable goods orders and the release of US employment data. With this information, they estimated that the Rupiah will move in the range of 14,000 - 14,100 over the US Dollar and the JCI is between 5,947 to 6,179.
Stocks to be watch for today are PT Aneka Tambang Tbk (IDX: ANTM), PT Vale Indonesia Tbk (IDX: VALE), PT Pabrik Kertas Tjiwi Kimia Tbk (IDX: TKIM), PT Telkom Indonesia Tbk (IDX: TLKM), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Bank Central Asia Tbk (IDX: BBCA), PT Astra International Tbk (IDX: ASII), PT AKR Corporindo Tbk (IDX: AKRA), PT Unilever Indonesia Tbk (IDX: UNVR), PT Medco Energi Internasional Tbk (IDX: MRDC), and PT Indofood Sukses Makmur Tbk (IDX: INDF).
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia
