Statistics Indonesia reported the number of foreign tourist visits in October declined drastically to 88.25 percent to 158,190 visitors compared to last year - Photo by President Office

JAKARTA (TheInsiderStories) – Good Morning! Statistics Indonesia reported the number of foreign arrivals declined drastically to 88.25 percent to 158,190 visitors in October compared to last year. When compared to September, the number increased by 4.57 percent.

Year to date, the nation received 3.72 million arrivals, dropped by 72.35 percent compared to the same period of last year around 13.45 million visits. While, the government sliced the year-end holiday period to eliminate the virus outbreak in Indonesia.

After announced has been affected by the coronavirus, Jakarta‘ governor and the vice governor will lead the province remotely, said regional government office. Anies Baswedan and  Riza Patria currently under self-isolation after both contracted by the virus.

From United States (US) treasury secretary Steve Mnuchin and Federal Reserves chairman Jerome Powell will be back on the hot seat testifying to the House today. While, lawmakers on Capitol Hill reportedly proposed a US$908 billion coronavirus relief bill that includes aid for various parts of the economy including small businesses and unemployed Americans.

On the commodity sector, the government plans to announce a special stimulus for the upstream oil and gas sector today to eliminate the impact of COVID-19. According to the SKKMigas, the government has formulated a number of stimuli that are expected to maintain the performance and attractiveness of the industry.

Yesterday, Indonesian Rupiah edged down 0.07 percent to 14.130 versus the American Dollar and the Jakarta Composite Index (JCI) strengthened 2 percent to 5,742.74 compared to the previous day. The analysts, said that the financial market was helped by the rising of Purchasing Manager’ Index of Indonesia, which rose to 50.5 in November from 47.8 in October as well as good inflation data for Indonesia.

News related to the COVID-19 vaccine also reduces investor anxiety. In addition, investors will be watching Powell and Mnuchin’ statements regarding the US economy outlook.

With this information, they rated JCI to move between 5,633 – 5,826 and Rupiah in the range 14,110 – 14,160. Stocks that can be watched today are PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Bank Negara Indonesia Tbk (IDX: BBNI), and PT Bukit Asam Tbk (IDX: PTBA).

Then, PT Charoen Phokpand Indonesia Tbk (IDX: CPIN), PT Astra International Tbk (IDX: ASII), PT PP Tbk (IDX: PTPP), PT Bank Central Asia Tbk (IDX: BBCA), PT Perusahaan Gas Negara Tbk (IDX: PGAS), PT Indo Tambangmegah Raya Tbk (IDX: ITMG), and PT Mayora Indah Tbk (IDX: MYOR) stocks.

May you have a profitable Day!

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