JAKARTA (TheInsiderStories) – Good Morning! World Health Organization warned that the pandemic it will not end anytime soon and many countries have only just arrived at the initial stage of the ‘battle’ against the plague. As of Thursday, there were 2,635,281 people infected by the virus with total deaths reaching 184,048 and recovering 717,371 people.
The United States (US) has the highest number of cases in the world, with 848,717 positive, 47,659 people dead and 84,048 recovering. But, President Donald Trump has begun to consider easing restrictions in some areas starting early May.
In US, Trump pledged his support oil and gas players by saying treasury and energy secretaries had been charged with creating a plan to get funds to them. According to Energy Information Administration there is another 16 million barrels at the country’ storage hub for crude oil in Cushing and that this could fill up by next week.
On Wednesday, Brent crude oil rebounded 2.9 percent to US$20.96 a barrel and West Texas Intermediate (WTI) crude oil for June delivery surged 6.1 percent to $14.62 per barrel.
From Middle East, Washington and Teheran relations reheated again after the siege by 11 Iranian revolutionary guard military ships to six US warships in the Gulf Sea. Trump said the Navy had been instructed to destroy Iranian gunboats if they harass US ships.
In Asia, the epidemic pushed South Korea’ economy into its biggest contraction since 2008 in the first quarter (1Q), as self-isolation hit consumption and kept businesses closed and global trade slumped. The central bank reported, gross domestic product decreased by a seasonally adjusted 1.4 percent in the first quarter of 2020 compared to three months earlier.
From a year earlier, the economy grew 1.3 percent in the 1Q of 2020, slowing from 2.3 percent growth in the 4Q. The data also showed South Korea‘ exports declined 2 percent from the fourth quarter, while construction investment and capital investment rose 1.3 percent and 0.2 percent, respectively.
Today, no important agenda in Indonesia. The important agenda to watch is the Commission VI of the House of Representatives hearing with the head of the Investment Coordinating Board.
Yesterday, Indonesian Rupiah closed up 0.11 percent to 15,450 per US Dollar and the Jakarta Composite Index jumped 1.46 percent at 4,567.56 compared to prior day. On Thursday, the local currency is expected to move in the range 15,400 – 15,500 and the stock index between 4,480 – 4,600.
Shares that can be considered today include PT Semen Indonesia Tbk (IDX: SMGR), PT Solusi Bangun Indonesia Tbk (IDX: SMCB), PT Ace Hardware Tbk (IDX: ACES), PT XL Axiata Tbk (IDX: EXCL), PT Adhi Karya Tbk (IDX: ADHI), PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Ciputra Development Tbk (IDX: CTRA), PT Hanjaya Mandala Sampoerna Tbk (IDX: HMSP), PT Matahari Department Store Tbk (IDX: LPPF), PT Malindo Feedmill Tbk (IDX: MAIN), and PT Astra International Tbk (IDX: ASII).
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia