JAKARTA (TheInsiderStories) - Good Morning! Chinese Prime Minister, Li Keqiang, hopes the United States (US) will cooperate with his country and must improve their communication towards stability. While, US special envoy, John Kerry, is heading to Shanghai to woo China in advance of a climate summit President Joe Biden next week.
After a major diplomatic row at the United Nation, both sides hope to cooperate over plans to drastically cut emissions. Washington wants Beijing to cease building coal-fired power stations and to stop financing coal ventures abroad.
Then, bureau of labor statistics reported the consumer price index (CPI) of the country jumped 0.6 percent last month, the largest gain since August 2012, after rising 0.4 percent in February. Gasoline prices also soared 9.1 percent, accounting for nearly half of increase in the CPI last month, followed a 6.4 percent increase in February.
In the same month, food prices edged up to 0.1 percent and the cost of food consumed at and away from home also rose 0.1 percent. The CPI rising as increased vaccinations and massive fiscal stimulus unleashed pent-up demand. In addition, labor department data showed a firming in underlying prices in March as strong demand bumps against supply constraints. However, significant slack still remains in the economy.
At the same day, Biden has urged his Russian counterpart to take measures to ease mounting tensions with Ukraine and proposed a summit between the two leaders in a third country. The Kremlin confirmed the proposal in a statement but did not say whether Vladimir Putin had agreed.
Recent photographs, video, and other data suggest major movements of Russian armed units toward or near Ukraine’ borders and into Crimea, seized by Moscow in 2014. From Europe, Britain announced the recovery loan scheme to help businesses access loans and other kinds of finance to recover the economy after the pandemic and transition period.
Up to EUR10 million (US$13.69 million) is available per business and 80 percent guarantees by the government to the lender and 100 percent for the borrower. The scheme is open until Dec. 31, 2021, subject to review.
In Asia, Prime minister of Japan, Yoshihide Suga, has announced it will release more than 1 million tones of contaminated water from the wrecked Fukushima nuclear power plant into the Pacific Ocean. The operator, Tokyo Electric Power and government officials say tritium, a radioactive material that is not harmful in small amounts, cannot be removed from the water, but other radionuclides can be reduced to levels allowed for release.
In Indonesia, President Joko Widodo discussed a number of important issues in a bilateral meeting with German Chancellor Angela Merkel virtually on Tuesday. The two leaders also exchanged ideas about the Myanmar issue, health, and economic cooperation. The head of state invited German to invests in Batang Special Economic Zones
Yesterday, Indonesian Rupiah closed down 0.07 percent to 14,605 per US Dollar and the Jakarta Composite Index (JCI) fell 0.36 percent to 5,927.43 compared to the previous day. Since the beginning of the year, the local currency fell 3.95 percent and the JCI has been corrected for three days in a row.
The analysts assess that market players will still pay close attention to various factors that have the potential to affect the stock market, such as US economic developments and financial market performances. They explained that the increasing hopes for a fast economic recovery after the pandemic which had an impact on US Treasury yields kept investors away from risky assets.
With this information, the Rupiah will move in the range of 14,590 - 14,630 versus the Greenback and the JCI between 5,883 - 6,060. Stocks that can be considered are PT Bank Central Asia Tbk (IDX: BBCA), PT Gudang Garam Tbk (IDX: GGRM), PT Timah Tbk (IDX: TINS), PT Semen Indonesia Tbk (IDX: SMGR), PT Astra International Tbk ( IDX: ASII), PT Bank Mandiri Tbk (IDX: BMRI), and PT Telkom Indonesia Tbk (IDX: TLKM).
May you have a profitable Day!
Written by Linda Silaen and Editorial Team, Please Read Our News to Get More information about Indonesia
