JAKARTA (TheInsiderStories) – Good Morning! Today, United States (US) President Joe Bidden’ US$1.9 trillion COVID-19 relief bill is expected get approval at the final debate of House of Representatives. The lawmakers will hold a final debate and will enable the he sign the legislation into law later this week. The Senate has sent over the law to the House on Tuesday morning.
In Asia, China to issue a vaccine passport, available in digital and paper formats, to promote the economic recovery and facilitate cross-border travel. Earlier, several European countries, such as Denmark and Sweden, also developing their own health passports.
While, World Health Organization urged the European countries to return to basics and increasing awareness of the deadly virus variant. The reasoned, based on the organization data shows that more than one million new cases of the COVID-19 were recorded in 51 countries in the region last week, rose 9 percent from the previous week.
The organization said a British virus variant had been reported in 43 countries in the region. South African and Brazilian variants of the virus have also been recorded in 26 and 15 countries respectively.
In Indonesia, health minister, Budi Gunadi Sadikin, said that the government will begin vaccinates 1.5 million people per day starting July, with goals is to have 181.5 million of the population vaccinated in one year. He estimating until June only 500,000 people has been vaccinated due to lack of the vaccine.
The drug-maker, PT Bio Farma, said that 500,000 doses of Sinopharm vaccines will arrive in Indonesia at the end of March and will be allocated to the ‘gotong royong‘ vaccine program arrange by the corporations. The state firm also in talks with China National Pharmaceutical Group Corp. Ltd., for the ‘gotong royong‘ vaccines.
The company has possible to increase the number of orders for Sinopharm up to 15 million doses. Bio Farma also negotiating the vaccines produced by US pharmaceutical company’ Moderna for 5.2 million doses. Then, industry ministry, Agus Gumiwang Kartasasmita, has an agenda to visit Japan to fulfill the invitation of a number automotive industry, meet with METI ministers and special advisors to the Japanese prime minister’ office.
This visit is specifically to oversee new investment commitments in the automotive and petrochemical sectors. He also wants to encouraged Japanese investors to develop electric vehicles and seeks to expand the export market for Indonesian automotive products, especially to Australia.
In the commodity market, the American Petroleum Institute reported US’ crude inventories rose 12.79 million barrels during last week after a build of 7.35 million barrels in the previous week. The West Texas Index crude oil fell $1.21 a barrel on the news to $64.01 a barrel. But, the outlook for oil prices remain positive amid expectations that OPEC+ will continue to pursue a tight oil market strategy.
The triple hit combo hit Indonesian financial markets on Tuesday’ trading showed by the depreciated of Rupiah by 0.28 percent to 14,390 per US Dollar and the Jakarta Composite Index (JCI) fell 0.78 percent to 6,199.65 levels compared to the previous day.
The government bond market was also under pressure. The yield on the benchmark 10-year bond series increased by six basis points (bps) to 6.817 percent. This indicated that the price of this instrument is falling due to lack of interest or exposure to selling pressure.
For today, the analysts rated, the external sentiment pressure should subside today, triggered by the lowering of US Treasury yields from 1.5 percent to 1.4 percent after US stimulus has been passed by the Senate. With these various factors, the Rupiah is estimating will move in the range of 14,390 – 14,450 per US dollar and JCI in the range 6,120 – 6,335.
Stocks to be watch for today are PT Aneka Tambang Tbk (IDX: ANTM), PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), PT Astra International Tbk (IDX: ASII), PT Semen Indonesia Tbk (IDX: SMGR), PT Adhi Karya Tbk (IDX: ADHI), PT Waskita Karya Tbk (IDX: WSKT), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), and PT Bank Central Asia Tbk (IDX: BBCA).
May you have a profitable day!
Written by Linda Silaen and Editorial Team. Please Read Our News to Get More information about Indonesia