JAKARTA (TheInsiderStories) - Good Morning and Have a Wonderful Christmas to our readers! Global investors cheered a potential Brexit deal between United Kingdom (UK) and the European Union that raised hopes the estranged allies would avoid a turbulent economic rupture on New Year’ Day.
From the United States (US), a raft of mixed economic data showed lower jobless claims and an uptick in new orders for durable goods. Otherwise, there are also a pullback in consumer spending, falling personal income and fading sentiment as the holiday shopping season nears its end amid a resurgent pandemic.
Investors largely shrugged off comments by President Donald Trump that he wanted to increase “ridiculously low” $600 payments for individuals to US$2,000 and demanded dramatic changes the stimulus package to a $2.3 trillion package. He also vetoed a bipartisan defense policy bill and raised the prospect that the US could face a government shutdown next week.
In Indonesia, the transportation ministry announced that it has secured a Rp1.48 trillion ($104.96 million) of national economic recovery incentive for the tourism and commercial aviation sector in 2021. This year, the ministry has allocated up to Rp443 billion-worth of incentives meant to cover the industry’ non-physical COVID-19 mitigation and physical activities.
The minister, Budi Karya Sumadi, also said that his office has secured a budget allocation outside of the incentives of Rp45.1 trillion, which he said 51 percent mostly be used to fund infrastructure development. While, the COVID-19 Mitigation Task Force tightened the supervision of foreign arrivals from the UK, Europe, and Australia by creating an addendum to circular Number 3 of 2020 which has been taken effect on Dec. 19, 2020, until Jan. 8, 2021.
Same policies also taken by Japan. The country will ban the entry of non-Japanese people from the UK starting today following the emergence of a new, highly contagious strain of the virus. Countries around the world closed their borders to Britain on Monday over concerns about the diseases.
Yesterday, Indonesian Rupiah strengthened slightly by 0.03 percent to 14,200 per US Dollar and the Jakarta Composite Index (JCI) weakened 0.24 percent to 6,008.70 compared to the previous day. Analysts think that the external sentiment that affects the strengthening of the financial market is Trump’ statement that he may not sign the aid bill which he considers a “disgrace”.
Then, the possibility of negotiations of Brexit will pass the end of the year following the renewal of the European Union’ head of Brexit negotiator, Michel Barnier. In the country, the sentiment that was quite influential on the President Joko Widodo’ decision to reshuffle his cabinet.
The reshuffle, according to some analysts, provides certainty of political stability because it maintains the coalition’s status quo by maintaining Gerindra’ seat as a former opposition party. There are no transactions today and tomorrow on the Indonesian money and stock market. The market will reopen next Monday.
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia
