Efforts to control pandemic around the world remain an issue in the market - Photo by Chinnapon

JAKARTA (TheInsiderStories) – Efforts to control pandemic around the world remain an issue in the market. Globally, more than 127.43 million people have been infected by the COVID-19 and the death toll is approaching 3 million.

In Europe, rising numbers in a third wave of infections are alarming authorities. From the United States (US), President Joe Bidden has signed the extension of Paycheck Protection Program from May 31 to June 30, 2021 to provide the Small Business Administration additional time to process applications received by the application deadline.

He also announced the planned first-phase infrastructure budget, which could be worth up to US$4 trillion. In South America, Brazilian President Jair Bolsonaro fired the defense minister earlier this week following the resignation of three armed forces chiefs of staff.

The general appears to have worried the president after publicly rejecting the politicization of Brazil’ military and pushing for tougher restrictions due to the pandemic that has killed more than 314,000 Brazilians.

In Asia, foreign ministers from Singapore, Malaysia, Indonesia and the Philippines has an agenda visit China at the invitation of state councilor and foreign minister, Wang Yi, starting today to April 2. While, on Monday. British’ Prime Minister Boris Johnson and President Joko Widodo has spoke to reaffirm the partnerships on climate, trade, and international diplomacy.

The premier noted the his interest in working more closely with ASEAN on a range of international issues. He looked forward to welcoming President Widodo to COP26 in Glasgow in November 2021.

In the commodity market, ships were moving through the Suez Canal after tugs stuck for days. Now, the market is turning its focus to the Organization of the Petroleum Exporting Countries and allies including Russia in Vienna. Saudi has proposed an extension of the production cuts through June, and is also ready to prolong voluntary unilateral curbs amid the latest wave of lockdowns.

While, in the past three days, the price of gold fell 2.72 percent to US$1,685.33 per troy ounce. A similar movement was seen in the June 2021 contract on the Comex market, which was at $1,684.90 per troy ounce. On a quarterly basis, the gold price is headed down 11.22 percent from end of last year the price at $1,898.36 per troy ounce.

On Tuesday, Indonesian Rupiah closed lower and the Jakarta Composite Index (JCI) fell 1.55 percent to 6,071.44 compared to the previous day. The analysts rated that the significant drop in CPO prices on the Malaysian stock exchange has become a negative trigger for stocks in this sector.

Beside, there are no significant news to boost the market performances beside the negative news on the COVID-19 issues. With this information, Rupiah and JCI are in the range of 6,000 – 6,160.

The stocks that can be observed are PT Bank Central Asia Tbk (IDX: BBCA), PT Gudang Garam Tbk (IDX: GGRM), PT HM Sampoerna Tbk (IDX: HMSP), PT Indosat Ooredoo Tbk (IDX: ISAT), PT Telkom Indonesia Tbk (IDX: – TLKM), PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), PT Bank Mandiri Tbk (IDX: BMRI), and PT Astra International Tbk (IDX: ASII).

May you have a profitable Day!

Written by Linda Silaen and Editorial Team, Please Read Our News to Get More information about Indonesia