Leaders of Association of Southeast Asian Nation (ASEAN) have a high level meeting today  through video-conference to discuss various issues around the globe - Photo by ASEAN Secretariat Office

JAKARTA (TheInsiderStories) – Good Morning! Leaders of Association of Southeast Asian Nation (ASEAN) have a high level meeting today through a video-conference to discuss various issues around the globe. Viet Nam’ Prime Minister Nguyen Xuan Phuc will lead the summit.

The 37th ASEAN Summit agenda is the leaders’ discussion and approval of the ASEAN Comprehensive Recovery Framework and its Implementation Plan, which will serve as the whole-of-community exit strategy to recover and build back better from the COVID-19 pandemic.  There are also further discussions on the ASEAN Travel Corridor Arrangement, which would facilitate the safe resumption of essential business travel in the region.

While, Indonesian government has joined the other members of ASEAN in signing an agreement on relaxing non-tariff measures for the trade of essential goods during the pandemic on Tuesday.  The agreement will be valid for the next two years and cover trade for 152 medical products.

On Thursday, Indonesia and Australia has agenda to announces the economic partnerships on the handling of the virus outbreak around the archipelago. As known, Indonesia – Australia Comprehensive Economic Partnership Agreement–covering A$18 billion (US$13.13 billion) of agriculture, education and health–has been activated on July.

In Asia, Hong Kong‘ pro-democracy lawmakers have threatened to step down en masse to protest the Beijing authorities’ dismissal of their colleagues. This is another protest movement, of those increasingly pressed by the overall imposition of the new National Security Law by Chinese authorities, including the arrests of activists who have fled abroad.

In the commodity market, world oil prices continue to soar. On Wednesday, the price of West Texas Intermediate oil for December 2020 delivery was strengthened by 3.31 percent to US$42.73 per barrel. Within a week, the increase reached 15 percent.

Yesterday, Indonesian Rupiah closed down 0.2 percent to 14.085 per US Dollar and the Jakarta Composite Index (JCI) strengthened 0.86 percent to a level of 5,509.51 compared to previous trading. Analysts assess US President Donald Trump’s rejection of the presidential election results, with claims of baseless election fraud and fraud creating uncertainty in global markets.

These days, the optimism about a vaccine has helped markets overcome worries about record-high new COVID-19 cases and rising hospitalizations. Some localities have had to reverse reopening plans to stop the rapidly escalating spread of the virus.

Today, the Rupiah is expected to move between 14,050 to 14,120 versus the US Dollar and JCI in the range of 5,520-5,530. Stocks that can be watched today are PT Gudang Garam Tbk (IDX: GGRM), PT HM Sampoerna Tbk (IDX: HMSP), PT Medco Energi Internasional Tbk (IDX: MEDC), and PT Telkom Indonesia Tbk (IDX: TLKM).

Then, PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT AKR Corporindo Tbk (IDX: AKRA), PT Perusahaan Gas Negara Tbk (IDX: PGAS), PT Bank Negara Indonesia Tbk (IDX: BBNI), and PT Indocement Tunggal Perkasa Tbk (IDX: INTP), PT Semen Indonesia Tbk (IDX: SMGR), and PT Solusi Bangun Indonesia Tbk (IDX: SMCB).

May you have a profitable Day!

Written by Linda Silaen, Please Read Our News to Get More information about Indonesia