JAKARTA (TheInsiderStories) - Good Morning! Deputy governor of Jakarta, Ahmad Riza Patria, announced the regional government plans to lockdown the capital city every weekend to suppress the transmission of COVID-19. In Feb 2, the city recorded 276,694 cases, the highest provincial caseload in Indonesia.
Last year, Jakarta has imposed the large-scale social restrictions policy, which partially restricted public activities in the workplace, schools, and houses of worship. While, Bank Indonesia has bought Rp33.53 trillion (US$2.40 billion) worth of government bonds through auctions and green shoe options as of Jan. 27.
The central bank is a standby buyer at government bond auctions to help the national economic recovery program of the country. The Bank has also injected Rp12.08 trillion of liquidity to support the economy.
In the United States (US), the Democrat party pushed ahead President Joe Biden’ US$1.9 trillion COVID-19 relief package without Republican support. Biden has pressing the Congress to move quickly before existing benefits expire in March.
On Wednesday, the House has approved a budget plan that would allow it to pass the aid package without a single Republican vote if necessary. The Senate has yet to vote on the plan. The budget plan would allow Democrats to pass the COVID-19 aid with a simple 51-vote majority in the Senate, rather than the 60 votes needed to advance most legislation in the 100-seat chamber.
So far, the pandemic has killed more than 447,000 Americans and thrown millions out of work, and Biden has made it a top priority. Aside from direct payments, his plan also included an additional unemployment benefits, money for vaccines and aid to state and local governments.
In Asia, the G7 expressed concern over the detention of State Counselor Aung San Suu Kyi and President Win Myint by the Myanmar‘ military. They call the military to immediately end the state of emergency, restore power to the democratically-elected government, to release all those unjustly detained and to respect human rights and the rule of law.
The country members asserted, the November election results must be respected and Parliament should be convened at the earliest opportunity. The G7 is currently presided over by the Britain, who is among the first foreign governments to condemn the coup in the Southeast Asian country.
Today, Bank of England meets and the focus will be on forward guidance. With the composite PMI index at 41.2 in January, the economy is in a deep contraction. The central bank has no plans to alter monetary policy, but it has been toying with the possibility of negative interest rates for the past few months.
In mid-January, the governor, Andrew Bailey, dampened negative rate expectations when he said there were lots of issues with cutting interest rates below zero. While, Prime Minister, Boris Johnson, said that it feels like the country could ease the national restrictions soon.
Yesterday, Indonesian Rupiah strengthened 0.14 percent to 14,005 per US Dollar and the Jakarta Composite Index (JCI) rose 0.56 percent to 6,077.74 compared to the previous day. Today, the local currency its expecting move in the range of 13,080 to 14,030 and the stock index between 5,920 - 6,280.
Stocks to be watch for today are PT Astra International Tbk (IDX: ASII), PT Bank Central Asia Tbk (IDX: BBCA), PT Jamu Sido Muntjul Tbk (IDX: SIDO), PT Perusahaan Gas Negara Tbk (IDX: PGAS), PT Telkom Indonesia Tbk (IDX: TLKM), PT Sarana Menara Tower Tbk (IDX: TOWR), PT Acset Indonusa Tbk (IDX: ACST), PT XL Axiata Tbk (IDX: EXCL).
US$1: Rp14,000
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia
