JAKARTA (TheInsiderStories) – Good Morning! With the global economy facing recession and markets showing increased signs of stress, flash purchasing manager index (PMI) surveys will be eagerly watched for the extent of the economic impact of the COVID-19 outbreak in March.
The March flash PMI data for the United States (US), Eurozone, United Kingdom, Japan and Australia follow worldwide PMI surveys, which showed the global economy contracting at the steepest rate since 2009 in February as the coronavirus disrupted manufacturing supply chains and hit service sectors, such as travel, tourism, restaurants and transport.
In United States, treasury secretary, Steven Mnuchin said on Sunday, the coronavirus economic relief bill being finalized in Congress will include a one-time US$3,000 payment for families and allow the Federal Reserve to leverage up to $4 trillion of liquidity to support the nation’ economy
In Asia, Bank of Thailand introduced new measures, including a liquidity support fund up to 100 billion Baht ($3.04 billion) to reduce risk in the debt market amid the spread of the coronavirus outbreak, said the governor Veerathai Santiprabhob. The country reported 188 new cases of infections, taking the total to almost 600.
President Joko Widodo is scheduled to visits the emergency hospital handling COVID-19 and will provide a press statement on the latest conditions. Then, the minister of tourism and the creative economy related to the tourism sector and the creative economy in the middle of the pandemic.
on Friday, Bank Indonesia will releases the statistics of international investment position in the fourth quarter of 2019. Last week, Widodo has signed a presidential decree, regarding the procurement of goods and services related to the handling of the COVID-19.
The coordinating minister for economic affairs, Airlangga Hartarto said, the decree would cover the process of procurement of goods and services or auctions, the process of importing goods from abroad, the process of distribution and distribution of goods to affected areas, and other processes to support the ease and smoothness of goods.
Followed the virus outbreak in Indonesia, last weekend, several provinces has announced state of emergency like Jakarta, Yogyakarta, West Java, and Jambi. Until Sunday, total positive cases in the country recorded over than 514 and fatalities 48.
Last weekend, Indonesian Rupiah closed down 0.30 percent to 15,960 per US Dollar, the eighth straight day of depreciation since March 11. While, the Jakarta Composite Index (JCI) closed up 2.18 percent at 4,194.94 compared to previous day.
Today, the local currency and the stock index still in the negative zones. Rupiah is estimating move between 15,800 – 16,000 and the stock index in the range 3,900 – 4,100 from last week.
Stocks to be watch for today are PT Telekomunikasi Indonesia Tbk (IDX: TLKM), PT HM Sampoerna Tbk (IDX: HMSP), PT Bukit Asam Tbk (IDX: PTBA), PT Bank Central Asia Tbk (IDX: BBCA, PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Jasa Marga Tbk (IDX: JSMR), PT Astra International Tbk (IDX: ASII), PT Mayora Indah Tbk (IDX: MYOR), PT Unilever Indonesia Tbk (IDX: UNVR), PT HM Sampoerna Tbk (IDX: HMSP), PT Gudang Garam Tbk (IDX: GGRM), PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP).
US$1: 32.84 Baht
May you have a profitable Week!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia