JAKARTA (TheInsiderStories) - Good Morning! President Joko Widodo signed the health protocol regulation to minimize the impact of COVID-19 on August 4. Based on the president instruction there will be sanctions for violators.
The instruction is to take the necessary steps according to the duties, functions and authorities to ensure legal certainty, strengthen efforts and increase the effectiveness of the prevention and control the virus outbreak.
Yesterday, finance minister Sri Mulyani Indrawati stated, that Indonesian government is preparing a further stimulus worth Rp238 trillion (US$16.41 billion). The stimulus for social aids that will be given includes additional salary assistance to workers with certain income in the form of direct cash assistance worth of Rp70.6 trillion.
Globally, members of the Security Council condemned in the strongest terms the heinous and cowardly terrorist attack that took place at a prison complex in Jalalabad, Afghanistan, on August 3, which resulted in at least 29 people killed, including civilians and many wounded, for which Islamic State in Iraq and the Levant has claimed responsibility.
While, secretary of state, Mike Pompeo said that the United States (US) would submit a resolution next week calling for an extension of the arms embargo on Iran. Donald Trump administration would ensure the United Nation (UN) embargo was extended, he adds.
The US has circulated a draft resolution to the 15-member UN security council. However, a number of veto-wielding council members, such as Russia and China, have hinted at moves in opposition to the proposal.
Still from US, the latest data on wage levels has fallen sharply in July which indicates that the COVID-19 case has stalled the labor market. In addition, economic data in Europe began to be positively represented by the strengthening of the Purchasing Managers Index to the highest level in the past two years.
On Wednesday, Indonesia Rupiah strengthened 0.51 percent to 14,550 per US Dollar and the Jakarta Composite Index (JCI) closed up 1.37 percent to 5,127.05 from the previous day. The cause is, US dollar tends to weaken influenced by fears of political stability in America ahead of the presidential election.
The US Dollar is under pressure due to the fear of potential disruption to the economic recovery as the spread of virus has not been controlled in the country. From domestic side, the contraction on Indonesian economy in the second quarter of 2020 not significantly affect the movement of both instruments. The reasoned, market are relieved that the economic growth has not fallen to double digits.
Based on the various information, the analysts projected that the Rupiah would be move in the range of 14,400 - 14,600 over the Greenback. And, the stock index is expected to move in a range of 5.081 - 5,172.
Stocks to be watch for today are PT Merdeka Copper Cold Tbk (IDX: MDKA), PT Surya Citra Media Tbk (IDX: SMCA), PT Media Nusantara Citra Tbk (IDX: MNCN), PT Telekomunikasi Indonesia Tbk (IDX: TLKM), PT Indofood Sukses Makmur Tbk (IDX : INDF), PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), PT Aneka Tambang Tbk (IDX: ANTM), PT Barito Pacific Tbk (IDX: BRPT), PT Bank Mandiri Tbk (IDX: BMRI), PT Unilever Indonesia Tbk (IDX: UNVR), PT Gudang Garam Tbk (IDX: GGRM), PT Bank Central Asia Tbk (IDX: BBCA), and PT Adaro Energy Tbk (IDX: ADRO).
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team. Please Read Our News to Get More information about Indonesia
