JAKARTA (TheInsiderStories) – Good Morning! The Association of Southeast Asian Nations (ASEAN) held The 6th Finance Ministers and Central Bank Governors’ meeting through a video conference today. Initially, the meeting was scheduled in March but due to COVID-19 outbreak.
While, Japan’ Prime Minster, Yoshihide Suga plans a state visits to Indonesia and Vietnam in mid-October, in a bid to shore up relations with two key ASEAN partners. They expected to discuss a plan for lifting travel restrictions imposed due to the COVID-19 pandemic.
The predecessor Shinzo Abe have vision of the “free and open Indo-Pacific”. He has pledged to carry on Abe’ foreign policy, which struck a careful balance between economic engagement and strategic competition with China, and included a special focus on the ASEAN.
Still from Japan, The Tokyo Stock Exchange said normal trading would resume this morning after a daylong shutdown. In the emerging markets such as Indonesia, South Korea, and Taiwan have seen foreign capital outflows around US$1.4 billion. India saw the fourth highest outflow at $766.9 million
From the United States, the government will issue unemployment data. Current consensus estimates suggest 875,000 jobs were added in September, with the jobless rate edging down from 8.4 percent to 8.3 percent, but that will be the smallest monthly jobs gain seen this side of the pandemic, and will add further to calls for additional support to the recovery.
Yesterday, Indonesian Rupiah strengthened 0.30 percent to 14,835 per US Dollar and the Jakarta Composite Index (JCI) jumped 2.05 percent to 4,956 compared to the previous day. The analysts rated, the external sentiment is predicted to drag down the movement of both in this weekend.
This will halt the positive performance of the two instruments, which has stronger for three consecutive days. Today’ sentiments, they said are the issues related to the fiscal stimulus in the United States (US).
The tug-of-war between the House of Representatives and Donald Trump’ government is reoccurring. The Democrat party had submitted a proposal for an aid package worth US$2.2 trillion but this amount was rejected by treasury secretary, Steven Mnuchin, who requested the COVID-19 assistance package for only $1.5 trillion.
With the various informations, the observers sees that the Rupiah will move in the range of 14,870 to 14,900 versus the Greenback and the JCI could strengthen above 5,000.
Stocks can be watched today are PT Telkom Indonesia Tbk (IDX: TLKM), PT Perusahaan Gas Negara Tbk (IDX: PGAS), PT Astra Agro Lestari Tbk (IDX: AALI), PT Indofood Sukses Makmur Tbk (IDX: INDF), PT Wijaya Karya Tbk (IDX: WIKA), PT Barito Pacific Tbk (IDX: BRPT), and PT HM Sampoerna Tbk (IDX: HMSP).
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia