JAKARTA (TheInsiderStories) - Good Morning! President Joko Widodo and Prime Minister of Japan Yoshihide Suga meet today at the Bogor Palace to discuss various issues, including COVID-19 pandemic. The theme of Suga’ visit to Vietnam and Indonesia is to realize the Indo-Pacific region that is free and open.
While, thousands of Indonesian Student Executive Board would hold a national strikes again today to reject the omnibus law for job creation. Today, also coincides with a year of Widodo - Ma’ruf Amin’s reign. Many observers gave negative notes to the government during their leadership.
From the United States (US), lawmakers probably not reach a stimulus deal ahead of a Tuesday deadline. The house signaled both sides remain apart on a deal. Sentiment was also weighed down by signs infections across the country are gathering pace, with nearly 70,000 new cases recorded on Friday, the highest one-day rise since July.
In addition, US and Brazil have signed a new protocol on trade rules and transparency, updating a 2011 agreement between the two countries The protocol included new annexes with provisions on customs administration and trade facilitation, regulatory practices and anti-corruption. Both, would also continue to explore ways to increase trade in goods and services and encourage further investment.
In Europe, hopes that the Britain and European Union will still find a way to break the deadlock on their talks over future trading arrangements, once the post-Brexit transition period ends on Dec. 31.
In Asia, Thai Prime Minister Prayut Chan-o-cha said he would hold a special parliamentary session to deal with protesters that wants his resignation.Tens of thousands of have taken to the streets in the past week to oppose an emergency decree banning gatherings of more than four people.
On the oil market, OPEC and its allies meet in Vienna to review their existing deal on withholding oil supplies.The bloc is expected to restore nearly 2 million barrels of oil per day to world markets starting of next year. At present, they keeping back some 7 million barrels a day.
Some expect the final communique from the meeting to express a degree of flexibility if market conditions demand it. On Monday, US’ West Texas Index futures were down 0.6 percent at $40.86 a barrel dan London’ Brent dropped by 0.6 percent to $42.65 per barrel.
Yesterday, Indonesian Rupiah depreciated 0.07 percent to 14,707 per US dollar. Since the beginning of the year, the local currency has fallen 6.07 percent. While, the Jakarta Composite Index (JCI) slightly higher to 5,126 levels compared to the previous day.
Analysts rated, the investors are worried about Indonesia’ debt ratio which will reach 38.5 percent of gross domestic products (GDP) in 2020 and penetrate to 41.8 percent in 2021. From abroad, the release of China’ GDP data in the third quarter of 2020 brings hopes of recovery with an increase of 4.9. percent from last year.
With this information, they estimate that the Rupiah may rebound to the level of 14,695 - 14,730 per US dollar and JCI between 5,182-5,187. Stocks to be watch for today are PT Aneka Tambang Tbk (IDX: ANTM), PT Telkom Indonesia Tbk (IDX: TLKM), PT HM Sampoerna Tbk (IDX: HMSP), 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
