JAKARTA (TheInsiderStories) - Good Morning! Indonesian inflation data out today. After experienced deflation for two months, in September, the country is estimating to post an inflation in a low level.
In the same day, finance ministry office starts the offering of retail bonds with coupon rate 5.70 percent and have a tenure three years. The bond offering will end on Oct. 21, allotment on Oct. 23, and the settlement on Oct. 27.
While, starting today, President Joko Widodo will collect digital taxes from foreign companies operating in Indonesia. The 10 percent added value tax imposed to around 21 tech companies such as Facebook, Tiktok, Twitter, Neflix, Amazon, LinkdIn, Google, Zoom, and Skype.
On Wednesday, Bank Indonesia (BI) and ministry of trade signed a memorandum of understanding of cooperation and coordination for the implementation of duties and authorities. The synergy cover economy and trade like the formulation of policies that support inflation control, imports control, increases export competitiveness, foreign, and domestic trade cooperation.
Globally, United States (US) House of Representatives postponed a vote on a US$2.2 trillion Democratic COVID-19 aid plan to allow more time for a bipartisan deal to come together. The virus has infected more than 7.2 million people and killed over 206,000 in the country.
In Asia, Japan compiling additional fiscal stimulus package to cushion the economic blow from the pandemic and could compile a third extra budget to fund part of the package. So far, the world third largest economy has spent JPY234 trillion ($2.22 billion) or about 40 percent of its gross domestic product - in two stimulus packages deployed to ease the economic pain from the pandemic.
Yesterday, Indonesian Rupiah appreciated 0.10 percent to 14,880 per US Dollar and the Jakarta Composite Index (JCI) was corrected 0.2 percent to 4,870 compared to the previous day. Analysts said there was a positive sentiment in the market on the above-expected Chinese manufacturing and non-manufacturing activity index data.
Based on various information, they rated, the local currency is likely to fluctuate and possibly be closed higher at the level of 14,850 - 14,930 against the American Dollar. While, JCI will again test the 4,820 - 5,000 levels.
Shares that can be watched for today are PT Aneka Tambang Tbk (IDX: ANTM), PT Gudang Garam Tbk (IDX: GGRM), PT London Sumatra Indonesia (IDX: LSIP), PT Bukit Asam Tbk (IDX: PTBA), PT Telkom Indonesia Tbk (IDX: TLKM), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Kalbe Farma Tbk (IDX: KBLF), and PT Astra International Tbk (IDX: ASII).
US$1: JPY105.52
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia
