JAKARTA (TheInsiderStories) - Good Morning! The minutes of Federal Open Market Committee show the policymakers preparing to change tact on bond purchasing before begin to raise the target range for the federal funds rate. At the latest meeting on Nov. 5, the governors kept its benchmark rate in a range of zero to 0.25 percent and pledged to maintain bond purchases at a US$120 billion monthly pace.
In Asia, Bank of Korea maintains its interest rate stable at the lowest level 0.5 percent as the policymakers concerned on the “hot” property market. The central bank also raised the prospects for South Korea’ economic growth for this year and next year.
From China, state councilor, Wang Yi had a phone conversation with Indonesian foreign minister, Retno Marsudi, at the latter’ request. Noting that the current pandemic situation remains grim, he said, his country is willing to continue to share its experience in the pandemic prevention and control with Indonesia.
In his visit to Japan Yi and his counterpart, Toshimitsu Motegi, talked on the restarting business travel within the two countries in this month. Both sides also reached an agreement to continue talks on disputed isles in the East China Sea.
The visit comes amid concerns about China’ growing influence in the region and Japan‘ moves to strengthen its existing alliances. After visit Japan Mr. Wang will fly to South Korea.
In Indonesia, President Joko Widodo appointed the coordinating minister for maritime and investment affairs, Luhut Binsar Pandjaitan, as the ad interim minister of the maritime and fisheries affairs. This decision was related to the arrest of the minister, Edhy Prabowo, by the Corruption Eradication Commission.
Yesterday, Indonesian Rupiah strengthened 0.08 percent to 14,144 per US Dollar and the Jakarta Composite Index (JCI) was corrected 0.38 percent to 5,679.25 levels compared to the previous day. Analysts rated, the news from the United States (US), that Joe Biden began to announce his working cabinet, and the name Jane Yellen to become treasury secretary give a positive sentiment to the financial market.
While from domestic, the flow of foreign funds continued to enter the country and the increase number of COVID-19 cases above 5,000 still affect the foreign investors’ interest. With these various information, they sees, the Rupiah will move int the range 14,040 to 14,240 against the Greenback and JCI to move in the range 5,611 - 5,724.
Stocks that can be watched today are PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Wijaya Karya Tbk (IDX: WIKA), PT Semen Indonesia Tbk (IDX: SMGR), PT Mayora Indah Tbk (IDX: MYOR), PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Vale Indonesia Tbk (IDX: INCO), PT Bank Central Asia Tbk (IDX: BBCA), and PT HM Sampoerna Tbk (IDX: HMSP).
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia
