JAKARTA (TheInsiderStories) – Good Morning! Most Asian stock markets, Indonesia, Australia, New Zealand, Hong Kong, and Singapore have no transaction today. For other market, the investors is looking forward to the United States (US) non-farm payrolls data for March, where more than one bank is expecting a reading above 647,000.
In Indonesia, the government provides tax incentives on luxury goods for cars with cylinder capacities of more than 1,500 cc to 2,500 cc. This policy is stipulated in the Minister of Finance Regulation Number 31 of 2021 concerning Sales Tax on Luxury Goods for the Delivery of Luxury Taxable Goods in the Form of Certain Motor Vehicles Borne by the Government for Fiscal Year 2021. This policy applies on April 1.
Then, defense minister, Prabowo Subianto, is expected to signs South Korea’ KF-X fighter jet project in this month. Indonesia had promised to shoulder 20 percent of the 8.8 trillion won (US$7.81 billion) development cost but it has stopped making payments after investing 227.2 billion won, spurring speculation that the country is seeking to quit the project.
Beside the fighter jet project, Indonesia signed a deal with South Korea in 2019 to purchase three submarines. While, the World Health Organization has criticized the launch of a COVID-19 vaccine program in Europe caused is very slow. The agency also said the situation in the region is currently more worrying than in previous months.
Yesterday, Indonesian Rupiah closed slightly lower by 0.003 percent to the level of 14.525 per US Dollar and the Jakarta Composite Index (JCI) edged up 0.004 percent to position 6,011.46 compared to the previous day. The analysts rated, the pressure on both of them was the impact of the increase in US treasury yields which reached 1.77 percent, and was one of its record highs.
In addition, the risk of taper tantrums and the plan of United States President Joe Bidden to prepare infrastructure stimulus with a jumbo value. In addition, data on the jobless claims fell and indicated that there was an improvement in the US economy.
US$1: 1,127.40 Won
May you have a profitable Day!
Written by Linda Silaen and Editorial Team, Please Read Our News to Get More information about Indonesia