JAKARTA (TheInsiderStories) – Here’s several news could affect stock market compiled by our team and Mandiri Sekuritas :
*Indonesia wheat flour consumption is expected to increase steadily with favorable growth of wheat-based culinary business. Indonesian Wheat Flour Producers Association (Aptindo) expected the wheat flour demand in the country to grow by five to six percent with the national economic growth in 2017.
*Singapore has agreed to expand cooperation in five areas with Indonesia, including investment in industrial estate. Singapore Prime Minister Lee Hsien Long made this commitment here on Monday during a joint press statement with President Joko Widodo. The prime minister stated that his country was also keen to expand cooperation in areas in Batam, Bintan and Karimun. Singapore is also interested to invest in Indonesias 35,000 Megawatt electricity program. Additionally, Singapore also agreed to establish an Indonesia-Singapore Business Council to increase business and investment between the two countries.
Lee noted that both countries have the potential to increase the number of tourist visits to each country by opening a cruise ship line. Besides, Lee and Jokowi also discussed security issues, including counter terrorism measures.
*Fitch Ratings assess the credit profile of the majority of Asian telecommunications companies will be depressed in 2017. Intense competition and the increase in capital expenditure be the reason. Negative outlook assigned to the telecommunications sector in India, Singapore, Malaysia, Thailand, and the Philippines, while the outlook for the telecommunications company in Korea, Indonesia, China, and Sri Lanka is stable.
*Bank Indonesia (BI) inaugurated the Bank Indonesia Fintech Office in Jakarta. Fintech Office is a container assessment, risk mitigation, and evaluation of the business model and the products or services of Fintech, as well as the initiator of related research activities of technology-based financial services. Governor of BI Agus Martowardojo estimates, financial transaction technology in Indonesia in 2016 reached US$14.5 billion. Executive Director of Policy and Oversight Payment System BI Enny V Panggabean added, the nominal amount of the transaction fintech only about 0.6% of total transactions globally fintech of US $ 2,556 billion.
*Rubber prices closed lower in trading today, Monday (14/11) following the trade restrictions in China’s commodity exchanges. Rubber for April 2017 delivery, the most active contract on the Tokyo Commodity Exchange, closed down 3.80% or 7.80 points to 197.70 yen per kilogram.
*Indonesian Palm Oil Board (DMSI) supports the plan of law initiated on crude palm oil (CPO) by parliament. Even DMSI requested that the parliament immediately to discuss the bill this CPO that can be enacted as soon as possible. DMSI’s Chairman Derom Bangun said the issues surrounding the oil industry today is very complex. Plus the production of CPO nationwide in the past year has reached 30 million tons.
*National Energy Council (DEN) recommend the Ministry of Industry (Ministry of Industry) to be firm with industry participants regarding the transparency of financing products to produce highly competitive products. DEN reluctant to help when gas prices fell approximately $ 6 per mmbtu, but the results of its products, is still inferior to other countries. per mmbtu, but the results of its products, is still inferior to other countries.
*The movement of Comex gold price fell in Monday’s trading as a strengthening US dollar and the increased expectations of interest rate hikes the Fed in December.