JAKARTA (TheInsiderStories) - Good Morning! This week the world reached 100 million recorded positive cases of COVID-19. Based on the current trends, the cases will double again in 3.5 months while the vaccinations still have a long way to go.
The higher positive cases also showed by Indonesian task force for COVID-19. Yesterday, the task force reported daily positive cases reached 11,948, bringing the total patients 1.02 million and death tolls 387 or in total 28,855 deaths.
Still from the country, the European Union sued Indonesia to the World Trade Organization for the ban on the export of nickel ore stipulated by the Indonesian government in the Mineral and Coal Act. Currently, the export value of Indonesian nickel products to Europe is recorded at 2 percent of total national exports.
In addition, the Financial System Stability Committee is scheduled to provide press information regarding the latest conditions in the Indonesian economy. In United States (US) treasury secretary, Janet Yellen, spoke with British’ finance ministers, Rishi Sunak, and Olaf Scholz from Germany, talked to end the pandemic, support a robust economic recovery, tackle difficult climate and international tax issues.
On her first full day on the job after being sworn into office on Tuesday as the first female head of the treasury department, she stressed the importance of transatlantic partnerships, which frayed under former President Donald Trump. She pledged active US participation in OECD discussions on international taxation to reach a timely agreement.
While, crude oil prices stayed at elevated levels after reports that the US is preparing to increase its military presence in Saudi Arabia, against a backdrop of rising tension with Iran. The Islamic Republic has begun enriching uranium again in an apparent attempt to strengthen its negotiating position ahead of an expected re-engagement by Joe Biden administration with the Joint Comprehensive Plan of Action that was abandoned by Trump.
Yesterday, Indonesian Rupiah closed up 0.11 percent to 14,050 per US dollar and the Jakarta Composite Index (JCI) weakened 0.5 percent to 6,109.17 compared to prior day. According to analysts, the formation of a sovereign wealth fund and strengthening the crude palm oil prices by 3.64 percent to a level of RM3,385 (US$835.80) per metric ton give positive sentiment to the market.
However, the International Monetary Fund’ negative outlook on Indonesian economic growth also added to by a release from Moody’s which assessed that the outlook for economic recovery for the Asian region will not be evenly distributed has gave pressured to the market.
With these various informations, Rupiah is estimating move in the range 14,050 to 14,100 versus the Greenback.and JCI between 6,000 - 6,300. Stocks to be watch for today are PT Aneka Tambang Tbk (IDX: ANTM), PT PP Tbk (IDX: PTPP), PT Astra International Tbk (IDX: ASII), PT Waskita Karya Tbk (IDX: WSKT), and PT Bank Central Asia Tbk (IDX: BBCA).
Then, PT AKR Corporindo Tbk (IDX: AKRA), PT Astra Agro Lestari Tbk (IDX: AALI), PT Adhi Karya Tbk (IDX: ADHI), PT Indofood CBK Sukses Makmur Tbk (IDX: ICBP), and PT Wijaya Karya Tbk (IDX: WIKA) stocks.
US$1: RM4.05
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia
