JAKARTA (TheInsiderStories) - Good Morning! Global investors worried on a highly infectious of COVID-19 that shut down much of Britain. While, the Brexit talks between United Kingdom and the European Union stucks and the Downing 10 offices now considered to formulate new regulation to extend the negotiation time.
From the United States (US), investors cheered the U$900 billion stimulus package, which is to include funding for households as well as businesses to help prop up the economy. The country also has an agenda to releases the third quarter’ GDP data and consumer confidence index. The GDP is expected to be 33.1 percent compared to minus 31.4 percent in the previous quarter.
In Indonesia, President Joko Widodo has an agenda to meet the ministerial candidates and is rumored to inaugurated them on Wednesday. This morning, the head of state with a number of ministers and officials will also deliver the outlook for Indonesian economy in 2021.
While, finance minister Sri Mulyani Indrawati sees Indonesia’ economic growth could be minus 2.9 to 0.9 percent in the fourth quarter of 2020 affected by the pandemic. In this year, she calculated the economy could contraction up to 2.2 percent.
From the commodity market, oil prices dropped on expectations of lower demand, with West Texas Index crude oil down 0.25 percent to $47.85 a barrel and Brent crude oil was 2.79 percent lower at $50.80 per barrel. While, Russia intends to support a further increase in OPEC+ production by 500,000 barrels a day at the group’ meeting in January.
On Monday, Indonesian Rupiah dropped 0.14 percent to 14,130 per US Dollar and the Jakarta Composite Index (JCI) strengthened 1 percent to 6,165.63 compared to last week. The analysts said, one news was drive the market are motorcycle sales data, which fell 56.7 percent in November from a year ago, deeper than the 46.8 percent declined in October.
In addition, the Jakarta provincial government decided to extend the transitional large-scale social restriction until Jan. 3, 2021. From external, the investors are anticipating the potential stimulus package by the US Government.
With these various information, they sees the Rupiah will move in the range 14,075 - 14,175 per US Dollar and JCI between 6,102 - 6,170. Stocks to be watch for today are PT Adaro Energy Tbk (IDX: ADRO), PT Bank Central Asia Tbk (IDX: BBCA), and PT Bank Negara Indonesia Tbk (IDX: BBNI).
Then, PT United Tractors Tbk (IDX: UNTR), PT Charoen Phokpand Indonesia Tbk (IDX: CPIN), PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), and PT Unilever Indonesia Tbk (IDX: UNVR) stocks.
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia
