JAKARTA (TheInsiderStories) – Good Morning! The latest inflation data will announces by the statistic bureau this morning. Some analyst rated in November, the country will experiences an inflation again near to 0.20 percent in month to month basis.
From global, the Organization Petroleum Exporter Countries and its allies needs more time to agree on delaying a planned output hike from January at their virtual meeting on Monday. In the October meeting, the producers announced to scaling back their production cuts in January 2021, from 7.7 million barrels per day (bpd) to around 5.7 million bpd.
While, Libya, which is exempt from the cuts, is also ramping up production after armed conflict shut almost all of the country’ output in January. On Monday, London’ Brent Crude Oil, the global benchmark for oil, dropped 0.6 percent, at $48.18. New York-traded West Texas Index settled down 0.4 percent to $45.34 a barrel.
In Asia, South Korea reported the economic growth in the third quarter of 2020 increasing by 2.1 percent compared to the previous quarter. This is a revision of the projection of economic growth, which previously rose by 1.9 percent.
Bank of Korea rated, this is the fastest expansion since the third quarter of 2009. At that time, South Korea’ economy grew by 3 percent and was the first expansion in three quarters when the economy recovered from its first crisis since 2003.
In Indonesia, President Joko Widodo has an agenda to lead a plenary meeting on the 2021 State Budget implementation. As known, the government aimed to accelerate the economy after been suffered in this year during the COVID-19 pandemic.
While, starting today (01/12), the digital goods or services sold by ten digital companies will be subject to a value added tax by 10 percent as an implementation Law Number 2 of 2020 which implements Government Regulation in Lieu of Law Number 1 of 2020 regarding Government Economic and Financial Policies in the Context of the COVID-19.
Yesterday, Indonesian Rupiah closed down 0.21 percent to 14,120 a US Dollar and the Jakarta Composite fell 2.96 percent to 5,612.42 levels compared to the previous day. Analysts believe that investors are seen rebalancing their portfolios at the end of November to welcome the end of the year which is still haunted by uncertainty over vaccinations.
According to them, the main sentiment that will influences the financial market is the development of virus outbreak, both globally and domestically. While, in the country there will be the release of inflation data. With these various information, a number of analysts predict Rupiah around 14,050 – 14,230 and JCI will move in the range 5,400 – 5,500.
And, stocks to be watch for today are PT Astra International Tbk (IDX: ASII), PT Bank Central Asia Tbk (IDX: BBCA), PT Perusahaan Gas Negara Tbk (IDX: PGAS), PT Charoes Phokpand Indonesia Tbk (IDX: CPIN), PT Aneka Tambang Tbk (IDX: ANTM), PT Ace Hadware Tbk (IDX: ACES), and PT Bank Rakyat Indonesia Tbk (IDX: BBRI).
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia