Governor of Jakarta, Anies Baswedan extends the transition period for large-scale social restrictions until July 30 - Photo by the Governor Office

JAKARTA (TheInsiderStories) – Good Morning! Governor of Jakarta, Anies Baswedan extends the transition period for large-scale social restrictions until July 30. While, the task force for COVID-19 response reported a positive confirmed cases jumped to 81,668 after there were an additional 1,574 people.

The highest number recorded in Jakarta reached 312 new cases, Central Java 214 new cases, and 80 East Java reported 179 new cases. As Friday, the COVID-19 has infected 13.92 millions worldwide. A total 591,835 have died and 8.26 million

The addition of new cases rapidly occurred in many countries like in the United States (US), Brazil and India. As of today, the US has had 3.68 million confirmed cases, Brazil 2.01 million cases, India 1.00 million cases, and Russia 752.797 cases.

Followed the increases number, President Joko Widodo preparing a legal umbrella aimed to providei sanctions for violators of health protocols in the form of a presidential instruction. The government sees public compliance with health protocols in the midst of a pandemic.

In Asia, Singapore trade data will be released this morning. Previously reported Singapore’ economic growth figures were worse than analyst estimates and showed the country’s economy entered a recession.

Regarding the South China Sea issue, the British aircraft carrier HMS Queen Elizabeth will join the United States military and allies in the region. In addition to HMS Queen Elizabeth, other warships Prince of Wales will also be stationed in the region.

Since 1971, Britain did have a military alliance with Singapore, Malaysia, Australia, New Zealand. While, from US, the department of labor reported the number of initial jobless claims in the US reached 1.3 million for the week ending July 11.

Yesterday, the Rupiah closed down 0.26 percent to Rp14,625 versus the Greenback and the Jakarta Composite Index (JCI) gained 0.44 percent to 5,098.37 compared to the previous day. According to analysts, Bank Indonesia decision cut the interest rates by 25 basis points to 4 percent showed the Indonesian economy contracted in April to June due to the pandemic.

The sentiment of cutting the benchmark rate succeeded in driving foreign funds back into the capital market. Yesterday, foreign investors recorded a net buy of Rp123.76 billion (US$8.65 million).

Based on the various data, Rupiah is predicted to move in the range of 14,565 – 14,700 per US Dollar and JCI between 4,821 – 5,123 today. Shares that can be considered today are PT Astra International Tbk (IDX: ASII), PT Bank Central Asia Tbk (IDX: BBCA), PT Wijaya Karya Bangunan Tbk Building (IDX: WEGE), PT United Tractors Tbk (IDX: UNTR), and PT Medco Energy International Tbk (IDX: MEDC).

Then, PT Gudang Garam Tbk (IDX: GGRM), PT Astra Agro Lestari Tbk (IDX: AALI), PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), PT Indofood Sukses Makmur Tbk (IDX: INDF), London Sumatera Tbk ( IDX: LSIP), and PT HM Sampoerna Tbk (IDX: HMSP).

May you have a profitable day!

Written by Linda Silaen and TIS Intelligence Team. Please Read Our Insight to Get More information about Indonesia