JAKARTa (TheInsiderStories) – Good Morning! Students and workers are planning return to the streets again today to reject the Omnibus Law for Job Creation. Two days ago the Indonesian parliament submitted the controversial draft law to the government.
The protester urging President Joko Widodo to issue a regulation in lieu of law. Its estimated more than 6,000 people will joint the strikes.
On Thursday, defense minister, Prabowo Subianto, kicked off his official trip to the United States (US) to meet the Pentagon’ invitation followed the high tension in South China Sea. He will be in the US until Oct. 19. The former military general would talk about the defense partnership with his counterparts, Mark T. Esper and James H. Anderson.
The minister had been actively conducting defense diplomacy with various countries, including US. Recently, Subianto was denied entering the US over alleged involvement in past human rights violations.
While, Vice President, Ma’ruf Amin announced, the government is preparing to build eight one-stop halal industrial zones in various regions. Along with the effort, the government is bolstering small industries or micro and small enterprises that are running the business of halal goods.
In Asia, Thailand announced an emergency decree to quell pro-democracy protests. On Thursday morning, the government had attempted to curtail an emergency decree banning gatherings of more than four people and arresting about 20 activists, taking the total number of arrests this week to about 40.
Yesterday, ten of thousands of pro-democracy protesters gathered again in Bangkok in mass defiance of the government which had issued a decree banning demonstrations. The calling for the resignation of Prime Minister Prayuth Chan-ocha – a former army chief who seized power in a 2014 coup and was appointed premier after controversial elections last year.
In US, fearing that a resurgence in COVID-19 cases and a lack of additional fiscal stimulus would hobble the country’ economic condition. Yesterday, President Donald Trump’ offer to raise the size of a fiscal stimulus package to US$1.8 billion, though many investors still believe a deal is unlikely before the Nov. 3 election.
In Europe, London will enter a tighter COVID-19 lockdown from Friday as Prime Minister, Boris Johnson, seeks to tackle a swiftly accelerating second coronavirus wave. At the same day, Brexit talks continued as the European Union (EU) wants to compromise their new economic partnership or stand ready for trade disruptions in less than 80 days.
Yesterday, Indonesian Rupiah closed up 0.19 percent to 14,690 against the American Dollar and the Jakarta Composite Index closed down 1.37 percent to the level of 5,105.150. The correction at once stopped the eight consecutive day of rally.
For today, the analysts rated, investor eyes will be focused on Brexit talks, as the pact deadline on EU relations with the United Kingdom draws closer. They also waiting for the development of the COVID-19 vaccines.
Another positive sentiment, they said, is the trade balance data. The statistics bureau has announced the country printed a trade surplus of US$2.44 billion. The economic recovery in the fourth quarter is expected also to support the movement of both instrument.
With the various information, Rupiah is expected to move in the range 14,660 – 14,710 versus the Greenback and JCI between 5,023 and 5,187. Stocks that can be considered are PT AKR Corporindo Tbk (IDX: AKRA), PT Solusi Bangun Indonesia Tbk (IDX: SMCB), PT Unilever Indonesia Tbk (IDX: UNVR), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), and PT Jasa Marga Tbk (IDX: JSMR).
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia