JAKARTA (TheInsiderStories) - Good Morning! The alliance and labor unions again will strikes again to reject the Omnibus Law on Job Creation and fight for an increase on the minimum wage in 2021. At the same day, President Joko Widodo has an agenda to visit North Sumatera to observe various infrastructure projects around the province.
While, the Financial System Stability Committee will meet again an will announces the latest information of their policies on last month. Currently, the Indonesian economy is entering a recession period after economic growth contractioned in two consecutive quarters.
From the United States (US), new home sales fell to 959,000 units from 994,000 a month earlier. Further, the country to announce the consumer confidence readings for October. The expected number is 102, which would be slightly higher than 101.8 in the prior month.
In Europe, lurched further toward a full lockdown as France posted over 52,000 new cases. Italy enforced a 6 p.m. nationwide closing time on bars and restaurants and Spain’ government declared a fresh nationwide state of emergency, which can stayed up to six months.
In Asia, China slapped sanctions on Boeing (NYSE: BA) and Lockheed Martin (NYSE: LMT) in response to the recent US deal to sell state-of-the-art weaponry to Taiwan. Followed US, Japan has declared will not join the United Nation treaty on a ban on nuclear weapons. This attitude is also contrary to the anti-nuclear beliefs held by Japan after World War II.
On Monday, Indonesian Rupiah strengthened 0.07 percent to 14,650 against the Greenback. This, adds to the length of the rally that has been going on for the past four weeks, supported by the return of foreign capital inflows to the domestic market. Then, the Jakarta Composite Index (JCI) rose 31.86 points to the level of 5,144.04 compared to last weekend.
Today, the analysts think the financial market will still be colored by the attitude of investors who are monitoring the continuation of the US stimulus package and the prospect of a COVID-19 vaccine.
Based on this information, Rupiah is predicted to move between 14,600 - 14,750 today and JCI in the range of 5,067 - 5,162. Stocks that can be watched today are PT Perusahaan Gas Negara Tbk (IDX: PGAS), PT Bank Central Asia Tbk (IDX: BBCA), PT Indofood CB Sukses Makmur Tbk (IDX: ICBP), PT Telkom Indonesia Tbk (IDX: TLKM), PT Semen Indonesia Tbk (IDX: SMGR), 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
