JAKARTA (TheInsiderStories) – Good Morning! Although rejected by workers and students, President of Indonesia Joko Widodo signed the Omnibus Law for Job Creation on Monday (11/02) and will become effective starting today. Since it was passed by the parliament on Oct. 5, 2020, a number of mass elements have refused the bill by holding demonstrations in a number of cities in Indonesia.
In the United States (US), the country will hold an election today but nearly 100 million voters have cast early ballots. Based on various reports, Donald Trump trails Joe Biden in national opinion polls and some analysts rated, a winner may not be declared for several days and the declaration might be contested in court.
While, US manufacturing activity accelerated more than expected in October and new orders jumping to their highest in nearly 17 years. At the same time, Chinese factory activity expanded to the fastest in a decade and Eurozone manufacturing also sped up.
Still from US, treasury department said it plans to borrow US$617 billion in the fourth quarter due to higher cash balance at the beginning of October. Its assumes by the end of December the cash balance word of of $800 billion.
Globally, investors braced for an eventful week with central bank meetings by the Federal Reserve, Bank of England, the Reserve Bank of Australia, as well as the release of US jobs data for October. The Reserve Bank of Australia is meeting on Tuesday and the market expects the policymakers to expand its government bond-buying programs around A$100 billion (US$70.42 billion).
On Monday, Indonesian Rupiah closed down 0.1 percent to 14,640 per US Dollar and the Jakarta Composite Index (JCI) fell 0.26 percent to 5,115.13 compared to the previous day. For today, the analysts assess both instrument movements will still be influenced by global sentiment.
In addition, the global investors are still waiting for the results of the US presidential election. They are also waiting for the release of the issuer’ financial report in the third quarter and the development of positive cases.
The number of positive cases in the world continues to grow and has reached 46.5 million positive cases. In Indonesia, the number of suspected cases has increased by 2,696 on Monday and accumulated became 413,000 active cases.
With such information, today the JCI is estimated to move between 5,060 – 5,150 and Rupiah in the range 14,600 – 14,650. Stocks that can be watched today are PT Bukit Asam Tbk (IDX: PTBA), PT Vale Indonesia Tbk (IDX: INCO), PT Telkom Indonesia Tbk (IDX: TLKM), PT Kalbe Farma Tbk (IDX: KBLF), PT Aneka Tambang Tbk (IDX: ANTM), 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