JAKARTA (TheInsiderStories) - Indonesian government to implement the micro-scale community activity restrictions to minimize the COVID-19 outbreak across the archipelago. To help the program, the national army would deploy 29,736 personnel to carry out the contact tracing in seven provinces across Java and Bali.
While, Jakarta deputy governor, Ahmad Riza Patria confirmed that the implementation of extended restrictions in the capital city would follow the central government’ program. The extended restriction would be valid until Feb. 22 after implemented since June 2020.
From Jordan, foreign affairs minister of Indonesia, Retno Marsudi, has an agenda has met her counterpart Ayman Safadi in Amman to strengthen their economic partnership. She said, one of the plans is to establish a joint venture in the field of fertilizer businesses.
Next, she has schedule to meet Jordan’ minister of economics to further discuss on the joint venture program. Indonesia has proposed to establish a preferential trade agreement with Jordan.
From United States (US), President Joe Biden’ administration is set to boost the supply of vaccines sent directly to states by 5 percent over the next week as Pfizer and Moderna increase the production. On the stimulus, he and treasury secretary, Janet Yellen has met with chief executives of a several blue chip company discussed his $1.9 trillion stimulus plan.
While, Democrats hope to disqualify Donald Trump from ever again holding public office after they won the Congress votes. Convicting Trump would require a two-thirds majority in the 50 - 50 Senate.
From the commodity market, the oil stockpiles of US fell by 3.5 million barrels last week reported by the American Petroleum Institute from a week earlier dropped by 4.26 million barrels. Cushing inventory slipped by 378,000 barrels, while gasoline inventories rose by 4.81 million barrels, the most since April 2020, and distillate stocks decreased by 487,000 barrels.
On Tuesday, West Texas Index Futures rose US$0.48 to $58.45 a barrel and hit a 13-month high as recent supply cuts by Saudi Arabia and hopes of recovery in fuel demand continue to spur bullish bets.
Yesterday, Indonesian Rupiah closed up 0.05 percent to 13,955 versus the American Dollar and the Jakarta Composite Index (JCI) strengthened 0.44 percent to 6,181 compared to the prior day. The Analysts believed that the decline in the retail sales and consumer confidence index and the change in the restriction regulation will provide negative sentiment to the market.
The change in policy is considered to create uncertainty for investors. However, the market will be supported by the global sentiment such as fiscal stimulus that will be released by US’ government. The US House of Representatives has approved the stimulus proposal and only needs to get approval from the Senate.
Wth these various information, the Rupiah is estimated to move in the range of 14,000 - 14,050 per US dollar and the JCI is between 6,050 - 6,200. Stocks that can be watched for today are PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Bank Central Asia Tbk (IDX: BBCA), PT Sarana Menara Tower Tbk (IDX: TOWR), and PT XL Axiata Tbk (IDX: EXCL).
Then, PT Astra International Tbk (IDX: ASII), PT Medco Energi International Tbk (IDX: MEDC), PT Aneka Tambang Tbk (IDX: ANTM), PT Astra Agro Lestari Tbk, PT HM Sampoerna Tbk (IDX: HM Sampoerna), PT Gudang Garam Tbk (IDX: GGRM), and PT AKR Corporindo Tbk (IDX: AKRA).
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia
