JAKARTA (TheInsiderStories) – Good Morning! United States (US) stock markets were muted ahead of the by the Federal Reserves decision today, even most of them believed no changes on the monetary policies. At the same time, President Joe Biden takes the road to sell his US$1.9 trillion stimulus to American and vaccines continue to roll out.
While, the country’ retail sales fell 3 percent in the latest reading. And a third wave of COVID-19 infections is building in Europe, with Germany, France, Italy and the Benelux countries reporting rising infections. Then, a German decision to stop distributing the AstraZeneca-Oxford University vaccine on Monday led to France and Italy following suit.
In Asia, President Xi Jinping tells China’ top economic committee to crack down on regulatory loopholes favoring the tech giants, described he knocked billions of dollars off the valuation of Ant Group, an affiliate of Alibaba (NYSE:BABA). Others also reported, the European Union plans to impose sanctions for human rights violations on China in response abuses against Uighur Muslim minority.
The actions will consist of a travel ban and asset freezes against four Chinese officials as well as one entity. However, Beijing warned the block that China would not give up if Brussels intervened in its domestic affairs.
Furthermore, ministry of finance released that Japanese exports fell 4.5 percent on an annual basis in February, after growing in the last three months, due to a decline in car shipments in the US. The decline occurred with shipments to US and China and became a new concern for the recovery of Japanese economic growth.
Elsewhere, Australia said it would distribute the AstraZeneca (NASDAQ:AZN) vaccine as planned, while Thailand’ Prime Minister received a shot, as the country lifted the suspension it announced on Friday. Then in Indonesia, tourism and economic creative minister, Sandiaga Salahuddin Uno encouraging long term visas for foreign tourists to bring them to Indonesia, especially Bali and to make this main tourist destination their second home.
Yesterday, Indonesian Rupiah weakened 0.05 percent to 14,410 per US Dollar and the Jakarta Composite Index (JCI) was corrected 0.23 percent to 6,309.69 from the previous closing level. Analysts assess the pressure on both of them due to the strengthening of the US dollar in line with rising US bond yields.
The yield on the 10-year US bond is currently recorded at a fairly high level of around 1.6 percent. On the other hand, domestic economic data has not been able to support both of them. They said market players were also waiting for the results of the US central bank meeting after President Joe Biden approved a stimulus package worth US $ 1.9 trillion.
With this information, today Rupiah is expecting move in the range of 14,300 – 14,300 versus the Greenback and JCI between 6,160 – 6,400. Stocks that can be watched today are PT Astra International Tbk (IDX: ASII), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Indocement Tunggal Perkasa Tbk (IDX: INTP), and PT Gudang Garam Tbk (IDX: GGRM).
Then, PT Bukit Asam Tbk (IDX: PTBA), PT Adaro Energy Tbk (IDX: ADRO), PT Indotambang Megah Raya Tbk (IDX: ITMG), and PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP) stocks.
May you have a profitable Day!
Written by Linda Silaen and Editorial Team, Please Read Our News to Get More information about Indonesia