JAKARTA (TheInsiderStories) – Good Morning! Foreign minister of Indonesia, Retno Marsudi, is holding intensive talks with foreign minister of Myanmar, Wunna Maung Lwin, in a bid to end the crisis over a military coup and asked them listen the people’ wishes. While, the protesters call ASEAN not to endorse the military regime.
In Indonesia, President Joko Widodo wants to re-open schools in the second semester of this year as the country started vaccinating the teachers. He is targeting to have at least 5 million teachers and lecturers vaccinated by June.
The second stage of COVID-19 vaccination began on Feb. 13, targeting elderlies, public service officials, market traders, and teachers. Until Wednesday, the task force reported there are 7,533 positive cases and 240 deaths bringing total of positive cases 1.31 million and fatalities 35,254.
From the United States (US), the Federal Reserves may be forced to tighten monetary policy sooner than expected with little worry about inflation, said the chairman, Jerome Powell. He told the lawmakers that inflation will remain or below the central bank’ 2 percent target through 2023 and the central bank will not raise interest rates until inflation has exceeded 2 percent.
Furthermore, President Joe Biden, signed an executive order decreeing a broad review of supply chains to reduce dependence on China products. The review will cover rare earth minerals and other key manufacturing inputs, including semiconductors.
In Asia, a sell-off in Chinese stocks gathered momentum as concern over sky-high valuations reached Asia. The sell-off was even worse in Hong Kong in response to news that the city is planning to raise stamp duty on stock transactions.
In the commodity market, oil prices jumped more 3 percent and hit 13-months high after US’ Energy Information Administration reported the crude crude production fell by more than a million barrels per day last week followed the mega snowstorm that blanketed Texas. This morning, West Texas Index crude price settled up 2.5 percent to US$63.22 per barrel and London-traded Brent, rose 2.6 percent at $66.18 a barrel.
Yesterday, Indonesian Rupiah slightly stronger by 0.05 percent to 14,085 agains the American Dollar and the Jakarta Composite Index (JCI) weakened 0.35 percent to 6.251 level compared to the previous day. According to the analysts, the movement of the two was supported by the statement of Powell that commitment to maintain low interest rates and purchase bonds to support the US economic recovery.
Simultaneously, investors are turning to currencies that will benefit from increased global trade, as well as countries making progress on the COVID-19 recovery. They said, market focus is still seeing on the US$1.9 trillion stimulus package. The US Congress is expected to vote on the stimulus package proposed by Biden in this weekend.
For today, one of the external sentiments will support the movement of both instruments comes from US home sales data. With that various information, the Rupiah is expected to move in the range 14,030 – 14,150 per US dollar and JCI between 6.223 – 6.312.
The Stocks to be watch for today are PT Bank Mandiri Tbk (IDX: BMRI), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Telkom Indonesia Tbk (IDX: TLKM), PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), PT Astra Agro Lestari Tbk (IDX: AALI), PT Kalbe Farma Tbk (IDX: KBLF), PT Japfa Comfeed Indonesia Tbk (IDX: JPFA), PT Bank Syariah Indonesia Tbk (IDX: BRIS), and PT Charoen Phokpand Indonesia Tbk (IDX: CPIN).
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia