JAKARTA (TheinsiderStories) – Good Morning! Its a monetary decision today for Bank Indonesia. After hold the seven days reverse repo rate in January, the policymakers is expecting to hold the benchmark rate again at 3.75 percent and deliver more stimulus to help the economic recovery.
Earlier, the central bank announced the residential property price survey indicates that residential property prices have limited growth in the fourth quarter of 2020. This is reflected in the increase in the index by 1.43 percent from a year ago and slightly lower than the growth in the previous quarter of 1.51 percent.
The index is predicted to maintain limited growth in first quarter of 2021 at 1.17 percent. The residential property sales volume growth still contracted by 20.59 percent in the fourth quarter of 2020, better than the contraction of 30.93 percent in the previous quarter. The decline in occurred in all types of houses.
On the COVID-19 issues, Australia has committed A$102 million (US$79.07 million) to assist Indonesia’ vaccine rollout to 185 million people. While, Japan begins vaccination drive amid Olympic worries.
Then, the European Commission signed a second contract with BioNTech Group and Pfizer for up to an additional 300 million vaccine doses, follow up a Jan. 8′ agreement reached with the company. They also proposed the members to purchase an additional 200 million doses of the vaccine produced by the producers, with the option to acquire another 100 million doses.
The additional doses will be delivered in the second quarter of 2021. The block has secured up to 2.3 billion doses from the most promising vaccine candidates for Europe and its neighborhood. A second vaccine, produced by Moderna, was authorised on Jan. 6. Other vaccines are expected to be approved soon. To date, 33 million doses have been delivered.
In United States (US), millions of Americans endure record cold without power and at least 20 dead. While, President Joe Biden reframes reopening of elementary schools.
Yesterday, Indonesian Rupiah closed up 0.65 percent to 14,020 versus the US Dollar and the Jakarta Composite Index (JCI) fell 1.03 percent to 6,227.72 compared to the previous day. Analysts assess the market are still waiting for the US Congress to approve a stimulus program that will have a big impact to developing country bourses.
They also also waiting for BI’ announcement regarding the benchmark rate. With the various information, they rated the Rupiah will move in the range 14,000 – 14,040 against the American Dollar and JCI between 6,150 – 6,250.
Stocks to be watch for today are PT Unilever Indonesia Tbk (IDX: UNVR), PT AKR Corporindo Tbk (IDX: AKRA), PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), PT Telkom Indonesia Tbk (IDX: TLKM), PT Semen Indonesia Tbk (IDX: SMGR), PT Indika Energy Tbk (IDX: INDY), PT Medco Energi Internasional Tbk (IDX: MEDC), PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Bank Mandiri Tbk (IDX: BMRI), and PT Adaro Energy Tbk (IDX: ADRO)
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia