JAKARTA (TheInsiderStories) - Good Morning! President of United States (US) Donald Trump signed into law a US$900 billion aid package on Sunday to avoid the government shutdown. The check its expecting to distributes in this week.
While, on Monday, the House voted to beef up stimulus checks set to go out to American households from $600 to $2,000. The new proposal has been sent to the Senate and its expecting the final votes in the coming weeks.
From Europe, United Kingdom (UK)’ death toll has risen by 357 in the past 24 hours, with a record 41,385 new cases. It brings the COVID-19 death toll to 71,109 and the total number of cases to 2.33 million. While, hopes are growing for the approval of AstraZeneca vaccine in the coming days.
In Indonesia, hundreds of workers under the Confederation of Indonesian Workers Unions will hold a demonstration at the Constitutional Court today. According to the president, Said Iqbal, apart from Jakarta, the action will also be held in 18 other areas including Bandung, Semarang, Surabaya, Lampung, Batam, Gorontalo, and other cities.
The union wants the government aborted the Omnibus Law for Job Creation and increasing the district or city’ minimum wage in 2021. The federation have sent the judicial review of the law to the court.
Then, industry minister, Agus Gumiwang Kartasasmita, suggested President Joko Widodo to relax of luxury sales tax for automotive industry players amidst the pandemic. He claimed the automotive segment’ has shown positive growth and is pinning hopes on 2020’ final quarter.
Widodo itself has an agenda to lead a limited meeting on the preparations for the distribution of social assistance for 2021. The social assistance that will be distributed includes the family hope program, basic food or non-cash food assistance programs, cash social assistance, pre-work cards, and national health insurance contribution assistance.
On Monday, Indonesian Rupiah closed up 0.32 percent to 14,155 per US Dollar and the Jakarta Composite Index (JCI) strengthened 1.41 percent to 6,093.55 compared to the previous day. According to the analysts, Indonesia’ decision to take quick action to close access for foreigners in early 2021 was appreciated by the market.
As reported, the government ban foreigners enters the country to contain the spread of new mutations of COVID-19, which are starting to bustle in Europe. Moreover, investors still focus on the government policies for 2021 and the implications of global equity movements at the end of this year.
From abroad, they rated, the movement of both instruments was driven by positive sentiment from US stimulus signed by Trump. In addition, the Brexit deal between the UK and the EU also provided positive sentiment for global financial markets.
With this information, the Rupiah is expected to move in the range of 14,075 - 14,175 per US dollar in line with projections of continued risk-on sentiment on global financial markets. Meanwhile, JCI is between 6,016 and 6,171.
Stocks to be watch for today are PT Adhi Karya Tbk (IDX: ADHI), PT Waskita Karya Tbk (IDX: WSKT), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Mayora Indah Tbk (IDX: MYOR), PT AKR Corporindo Tbk (IDX: AKRA), PT Vale Indonesia Tbk (IDX: INCO), PT Indofood Sukses Makmur Tbk (IDX: INDF), PT Bukit Asam Tbk (IDX: PTBA), and PT United Tractors Tbk (IDX: UNTR).
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia
