Fears on the new COVID-19 waves in India and South America is estimating will slow the recovery in global demand - Photo by ADB Office

JAKARTA (TheInsiderStories) – Good Morning! Fears on the new COVID-19 waves in India and South America is estimating will slow the recovery in global demand. Both countries are currently experiencing their worst wave of COVID-19 cases.

While, the British’ medicines and health regulatory agency has identified 19 deaths from such blood clots, after having dispensed 20 million shots of the AstraZeneca jab. The European Union and the kingdom now acknowledge a possible link between the vaccine and potentially dangerous blot clotting disorders, but still argue that the risks of taking it are outweighed by its benefits.

Currently, Australia recommended people under 50 should get Pfizer’ COVID-19 vaccine in preference to AstraZeneca, the Philippines limited use of AstraZeneca’ vaccine, and the African Union dropped plans to buy the shot amid global shortages. More than a dozen countries have at one time suspended use of the shot on worries about rare dangerous side effects in younger people.

In Indonesia, health minister, Budi Gunadi Sadikin, is planning to lobby the US and China to fulfill Indonesia’ need for the vaccines. He said lobbying the US government is still in its inception and is mainly an “anticipation for future events,” referring to a back up plan if the procurement of 54 million GAVI vaccines and 50 million AstraZeneca vaccines is hampered in the future.

From the IMF – World Bank Spring meeting, Group of 20 finance ministers discussed the global tax issue and are now again aiming for an agreement by July. Earlier, the United States (US) treasury office has released the 15 percent minimum tax would only apply to companies with over US$2 billion in annual income, rather than the $100 million touted last year.

While, the labor department had reported that initial jobless claims rose to 744,000 last week, disappointing hopes that they would resume their downward trend. The data pushed the yields on 10-Year Treasury bonds down by a couple more basis points to 1.64 percent.

On Thursday, Indonesian Rupiah weakened 0.28 percent to 14,535 against the US Dollar and the Jakarta Composite Index (JCI) appreciated 0.58 percent to 6,071.72 compared to the previous day. The analysts rated that investors are again optimistic about stocks related to the formation of Indonesia’s sovereign wealth fund

While, both the government and economists have hopes that economic growth in the second quarter will be positive. This follows the imposition of sales tax incentives on luxury goods since March 1, 2021. Plus, the government continues to allocate a large amount of National Economic Recovery funds of Rp.699.43 trillion.

Globally, a statement by the Federal Reserve (Fed) reaffirming its continued policy support raised hopes for the US economy‘ recovery from COVID-19. The Fed also reiterated its promise to continue monetary policy support until an optimal economic recovery.

With this information, they said, the JCI has the potential to move in the range of 5,850 – 6,110 and Rupiah between 14,530 – 14,580 versus the American Dollar. Stocks that can be watched today are PT Bank Mandiri Tbk (IDX: BMRI), PT Unilever Indonesia Tbk (IDX: UNVR), PT Adaro Energy Tbk (IDX: ADRO), and PT Aneka Tambang Tbk (IDX: ANTM).

Then, PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT HM Sampoerna Tbk (IDX: HMSP), PT Indika Energy Tbk (IDX: INDY), PT Gudang Garam Tbk (IDX: GGRM), and PT Unilever Indonesia Tbk (IDX: UNVR) stocks.

May you have a profitable Day!

Written by Linda Silaen and Editorial Team, Please Read Our News to Get More information about Indonesia