JAKARTA (TheInsiderStories) – Good Morning! President of United States (US), Joe Biden, aimed to doubling his target to have 200 million vaccinations within his first 100 days. He also claimed was “prepared for some form of diplomacy” with North Korea but it “has to be conditioned upon the end result of denuclearization”.
On Thursday, North Korea fired two suspected ballistic missiles into the sea, in its first substantive provocation to Biden’ new administration. The head of state said the North had violated United Nation resolutions by testing “those particular missiles.”
The country also announced, the gross domestic product growth in the fourth quarter revised up slightly to an annualized rate of 4.3 percent from earlier at 4.1 percent. Then, the core PCE prices rose only 1.3 percent in the same quarter from the third-quarter of 3.4 percent.
The US’ department of labor also reported the initial jobless claims fell to 684,000 from 781,000 the previous week of 770,000. The number of continuing claims also fell by some 260,000 to 3.87 million, its lowest since March last year.
In Asia, Singapore joined Indonesia and Malaysia in calling for an urgent summit of Southeast Asian leaders to discuss the post-coup crisis in Myanmar. Foreign minister, Vivian Balakrishnan in the meeting with his counterpart Retno Marsudi in Jakarta, admitted both were “very distressed” by the situation in Myanmar.
Last week, Malaysian Prime Minister Muhyiddin Yassin and Indonesian President Joko Widodo called for an urgent summit of ASEAN leaders to discuss the turmoil in Myanmar. The 10-members bloc has been roundly criticized as ineffective for not being able to achieve a common stance on the rapidly devolving situation in Myanmar.
He also announced, Widodo and Prime Minister Lee Hsien Loong will be meeting in person for the Leaders’ Retreat in this year. Balakrishnan also spoke about “cautious preparations” for reviving the travel and tourism sectors with tourism and economic creative minister, Sandiaga Salahuddin Uno during his visited in Indonesia.
Still from Asia, Vietnam requested Indonesia to release two fishing boats and 43 fishermen captured near to border of their countries early this month. Indonesia has on multiple occassion sunk fishing vessels from other countries for alleged illegal fishing.
The Philippine military said it had ordered navy ships deployed to the South China Sea, days after around 220 steel-hulled boats had been seen moored near to Julian Felipe. President Rodrigo Duterte had raised concerns about the encroachment of the Chinese ships during a social call with Huang Xilian, China’ ambassador to Manila.
Yesterday, Indonesian Rupiah edged down 0.01 percent to 14,427 per US dollar and the Composite Stock Price Index (JCI) fell 0.54 percent to 6,122.88 levels compared to the previous day. The analysts rated the two weakness in the midst of a sell-off on Chinese technology stocks due to concerns about being delisted from US stock exchanges.
As reported, US capital market regulators are drafting regulations that will kick foreign companies out of the stock exchanges if they do not comply with auditing standards and publicly announce their affiliations with foreign governments. In addition, investors are worried about the extension of the lockdown policy in Europe, disruption to the distribution of the COVID-19 vaccine and the potential for tax increases in the US.
In addition, the increase in new cases of COVID-19 in the past week has become one of the focuses of market players. This was also one of the topics discussed in the virtual meeting among the European Union leaders at the meeting yesterday.
From a geopolitical perspective, investors are monitoring North Korea‘ actions, which showcased the progress of its weapons development program by launching two ballistic missiles that crashed in the sea area near Japan. This move raised tensions ahead of the Olympic events in Tokyo and put pressure on the Biden government.
With this information, the Rupiah is expected to move in the range of 14,400 – 14,450 and the JCI between 6,002 – 6,237. Stocks that can be considered are PT Telkom Indonesia Tbk (IDX: TLKM), PT Aneka Tambang Tbk (IDX: ANTM), PT Vale Indonesia Tbk (IDX: INCO), PT AKR Corporindo Tbk (IDX: AKRA), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Bukit Asam Tbk (IDX: PTBA), PT Indofood Sukses Makmur Tbk (IDX: INDF), PT Indika Energy Tbk (IDX: INDY), and PT Indosat Oreedoo Tbk (IDX: ISAT).
May you have a profitable Day!
Written by Linda Silaen and Editorial Team, Please Read Our Insight to Get More information about Indonesia