With COVID-19 infections rising sharply in many countries, the focus will be on the path of the virus and extent to which economies will have to be locked down in the first quarter, as well as the policy response, notably in the United States - Photo: Special

JAKARTA (TheInsiderStories) – Good Morning! With COVID-19 infections rising sharply in many countries, the focus will be on the path of the virus and extent to which economies will have to be locked down in the first quarter, as well as the policy response, notably in the United States (US).

However, the week ahead also sees some important economic data releases, which will give further clues as to the extent to which various major economies managed to continue to recover in the fourth quarter.

Leading the bill is fourth quarter GDP for China, which, with around 100,000 virus cases and 5,000 deaths reported in total, has seen life return almost to normal, boosting economic activity according to the PMI surveys. Hence the fourth quarter is expected to have seen China’ GDP growth accelerate from 4.8 percent in the third quarter to approximately 6.5 percent.

In the US, where tensions could build again in the lead up to the Presidential inauguration on 20 January, industrial production and retail sales data will provide important steers on fourth quarter economic growth nowcasts, albeit only up to November. Jobless claims and job openings data will meanwhile help clarify the latest labour market trends, and we also see updates to the NFIB survey and the Beige Book.

In Europe, Brexit-watchers will be further assessing the impact of the end of the Britain’ transition period, the lead up to which is likely to have provided a temporary boost to November’ GDP numbers, which are released on Friday. The Eurozone also sees updated industrial production data.

In Indonesia, statistic bureau has an agenda to releases the latest GDP growth in December and the whole year of 2020. Also several economic data will announced by the central bank and other institutions.

The tragedy by low cost flight carrier, Sriwijaya Air, has bring a total death more than 60 peoples after plane crashed into the sea minutes after taking off from Jakarta. The rescued team has detected the black box signal of the plane with flight number SJ 182.

While, acting secretary of defense, Christopher Miller has called his counterpart from Indonesia, Prabowo Subianto and offered condolences for the Jan. 9′ commercial plane crash. He offered Indonesia any support it might need and expressed confidence in the Indonesian government’s ability to manage the situation.

Last week, the Jakarta Composite Index rose by 1.69 percent to 6,257.84 and during the week it has strengthened 4.66 percent from the end of 2020 at the level of 5,979.07. While, Indonesian Rupiah weakened 0.81 percent to 14,022.5 per US Dollar.

This week, the stock index is expected to move in the range of 6,100 to 6,300 and Rupiah between 13,950 – 14,100. Stocks that can be considered are in the banking, mining, energy, plantation, retail, manufacturing, and infrastructure sectors.

For today are PT Astra International Tbk (IDX: ASII), PT Telkom Indonesia Tbk (IDX: TLKM), PT Bank Centra Asia Tbk (IDX: BBCA), PT Wijaya Karya Tbk (IDX: WIKA), PT Astra Agro Lestari Tbk (IDX: AALI), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Gudang Garam Tbk (IDX: GGRM), PT HM Sampoerna Tbk (IDX: HMSP), and PT Indofood Sukses Makmur Tbk (IDX: INDF) stocks.

-IHS Markit contributed to this briefing

May you have a profitable Week!

Written by Linda Silaen, Please Read Our News to Get More information about Indonesia