JAKARTA (TheInsiderStories) - Good Morning! Today, the statistic bureau has an agenda to releases the export import data Indonesia in March. Some economists rated the trade balance of Indonesia still in the stable condition.
While, President Joko Widodo is expected to reshuffle his cabinet again in near time after the parliament approved the reorganize of investment, research and technology ministry would merge with education ministry. These shake-ups have prompted many political analysts and clearing the way for the second reshuffle since he started the second term in 2019. The last reshuffle was less than four months ago when the president replaced six ministers.
On the pandemic issues, the Russian Embassy’ press secretary, Denis Tetyushin, announced Indonesian authorities are likely to register Sputnik V COVID-19 vaccine by the end of this month. According to Penny Lukito, head of the National Agency of Drug and Food Control, the permit process can be finished in late April after Russia submits all the documents.
According to the World Health Organization, Indonesia has recorded some 1.57 million cases since the start of virus outbreak, while 42,656 people have died. On Wednesday, the task force for the COVID-19 reported total deaths recorded 124 and the infection numbers 5,656.
From the commodity market, the International Energy Agency raising its forecasts for global oil demand in this year, by an average of 230,000 barrels per day (bpd) from its March projections. However, it too pushed most of the increase back to the second half of the year.
The agency expects a further 2 million bpd of capacity will be needed to come online in the second half above and beyond what the OPEC+ has already agreed to release. This morning West Texas Index crude futures were up 1.6 percent to US$61.17 a barrel and while Brent crude jumped 1.6 percent to $64.70 per barrel.
On Thursday, Indonesian Rupiah slightly higher 0.02 percent to 14,602 per US Dollar and the Jakarta Composite Index (JCI) strengthened 2.07 percent to 6,050.28 compared to the previous day. The analysts rated, the correction of the Greenback after the release of the consumer price index (CPI) did not trigger concerns about rising inflation.
As reported, the CPI grew 0.6 percent on monthly basis. While, US central bank officials said that US economy could expand by 5 percent to 6 percent in 2021 driven by a solid vaccination program and fiscal assistance.
In the country, the increase of COVID-19 cases has became a concerned in the financial market. With these various informations, the Rupiah its expecting move in the range 14,590 - 14,635 versus the American Dollar and the JCI between 6.000 - 6,119.
Stocks to be watch for today are PT Astra International Tbk (IDX: ASII), PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Semen Indonesia Tbk (IDX: SMGR), PT Adaro Energy Tbk (IDX: ADRO), PT Telkom Indonesia Tbk (IDX: TLKM), PT Bank Central Asia Tbk (IDX: BBCA), and PT Aneka Tambang Tbk (IDX: ANTM).
May you have a profitable Day!
Written by Linda Silaen and Editorial Team, Please Read Our News to Get More information about Indonesia
