JAKARTA (TheInsiderStories) – Good Morning! Today, President Joko Widodo will lead a limited meeting on micro lending and one map policy. While, the coordinating minister for human rights and culture will hold ministerial meeting on the anticipation of the Wuhan coronavirus impact to Indonesia.
Minister of industry, Agus Gumiwang Kartasasmita, is scheduled to meet Singapore’ minister of trade and industry Chan Chung Sing. Then, coordinating minister for maritime and investment affairs, Luhut Pandjaitan, will hold a meeting regarding the new capital and the passenger costs service.
At the parliament, PT Perusahaan Listrik Negara is scheduled meeting with VII commission to explain the use of crude palm oil in power plants and support for the development of electric vehicles at noon. In addition, minister of communication and information, Johnny Plate, will provide information on the individual data protection bill.
Today, the ministry of finance will hold an auction on the sharia bonds maturing in July 2020, January 2022, October 2024, April 2043, and July 2047. From the tender, the government is expecting to raises Rp7 trillion (US$500 million). And, the state-owned steel producer, PT Krakatau Steel Tbk (IDX: KRAS) holding an investor meeting.
On Monday, global stock market and oil prices has tumbled amid the coronavirus issues do further damage to China’ already weakened economy, an engine of global growth. Chinese Yuan was mired near its weakest level in a month as heightened anxiety about the economic impact of a deadly new coronavirus in China battered riskier assets.
The Renmimbi was quoted at 6.9824 a US Dollar, near its weakest since end of last year. The Japanese Yen, also traded near a three-week high and closed at 108.95 against the Greenback as investors nervously watched the spread of a virus that has already claimed 81 lives in China.
In United States (US), Wall Street closed sharply in the red. The S&P 500 lost 1.58 percent, Nasdaq Composite fell 1.89 percent and the Dow Jones Industrial Average slumped 1.58 percent. These development will become attention at the Federal Open Market Committee meeting starting today before make a decision tomorrow.
Still from America, President Donald Trump met Prime Minister of Israel Benyamin Netanyahu in Washington on Monday. At the meeting both leaders talked about the Middle East Peace plans and will announces the agreement today.
After take a gained for days, yesterday Indonesian Rupiah closed down 0.24 percent to 13,615 a US Dollar and the Jakarta Composite Index (JCI) dropped significantly 1.78 percent to 6.133,21 compared to previous day.
Today, both instruments is estimating will continue to weaken. The local currency its expecting move in the range of 13,564 to 13,680 over the Greenback and the stock index between 6,086 to 6,119.
The analysts rated, the weakening of the Rupiah was triggered by the corona virus which could weaken China‘ economic growth. There is also concern that the tourism sector and Chinese consumption levels could be depressed if the virus spreads further. But some analysts sees the market could rebound today after panic selling on Monday.
The stocks to be considered for today are PT United Tractors Tbk (IDX: UNTR), PT Astra International Tbk (IDX: ASII), PT Kalbe Farma Tbk (IDX: KLBF), PT AKR Corporindo Tbk (IDX: AKRA), PT HM Sampoerna Tbk (IDX: HMSP), PT Telkom Indonesia Tbk (IDX: TLKM), PT Jasa Marga Tbk (IDX: JSMR), PT XL Axiata Tbk (IDX: EXCL), PT Kimia Farma Tbk (IDX: KAEF), PT Wijaya Karya Tbk (IDX: WIKA), PT Adhi Karya Tbk (IDX: ADHI), and PT Pakuwon Jati Tbk (IDX: PWON)
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia