JAKARTA (TheInsiderStories) - Good Morning! President Joko Widodo announced Indonesia has received 1.2 million doses of COVID-19 vaccines from China’ drug-maker, Sinovac. Now, he said, the government still working on 1.8 million doses which will arrive early January 2021.
He asserted, this month there will be another 15 million doses of vaccine and 30 million doses arrives in January in the form of raw materials which will be further processed by state-owned pharmacy firm, PT Bio Farma. While, The Jakarta provincial government again extended the Large-Scale Social Restrictions for the Transition Period for 14 days, starting Dec. 7 - 21, as the number of COVID-19 cases still high.
Then, minister for social affairs, Juliandri Batubara has been named a suspect by the anti-corruption commission over allegations received million of funds relating to COVID-19 aid for the poor. The investigation of him comes as another blow to Widodo, whose fisheries minister was arrested last week on the same charges.
In this week, further clues of fourth quarter economic trends will come from a host of industrial production and trade data releases. Third quarter GDP figures are updated for the Eurozone and Russia, while Britain issues monthly GDP numbers for October.
In Europe, there is a busy week ahead, with October industrial production data released for each of the ‘big four’ eurozone economies. In addition, the European Central Bank holds its final monetary policy meeting of 2020.
The usual monthly data dump from the Office for National Statistics covering industry, services and GDP is joined by house price figures and retail sales data for the United Kingdom. After PMI numbers showed the economy being supported in part by pre-Brexit preparations, markets will scrutinise the monthly data for October, while keeping a keen eye on Brexit talks.
In United States, data releases this week cover inflation, consumer and small business sentiment as well as job openings and jobless claims. November PMI data signaled a notable uptick in private sector selling prices, and as such, the rate of inflation is expected to have edged up midway through the fourth quarter.
The labour market will be of greater concern to the Fed, however, as worries regarding the labour market recovery have increased amid rising infection numbers in many states. While, Brazil’ central bank is eyed for change to its forward guidance after inflation spiked higher, while in Canada, the central bank sees the possibility of a faster than previously expected recovery thanks to vaccine developments, but has also raised the spectre of a further rate cut if infection rates rise again.
In Asia, China’ updated trade, inflation, money supply and new loan data will be scoured for confirmatory signs that the recovery is accelerating after PMI data showed the strongest growth for over a decade. Final third quarter GDP data for Japan should confirm the strong rebound in national output from the heavy losses in the second quarter.
In Indonesia, the central bank has schedule to announces the foreign exchange reserves on Monday, Consumer Survey Index on Tuesday, and Retail Sales Index on Wednesday. Today, Widodo’ ministers give a presser on the latest information on the vaccines.
On Friday, Indonesian Rupiah strengthened 0.25 percent to 14,105 per US Dollar and the Jakarta Composite Index (JCI) dropped by 0.21 percent to 5,810.48 compared to prior day. This week the local currency is estimating move between 14,000 - 14,100 versus the Greenback dan the stock index in the range 5,750 to 5,900.
Stocks to be watch for this week are pharmaceutical, mining, oil and gas, manufacturing, retail, property, and banking sectors. For today shares can be observes are PT Kimia Farma Tbk (IDX: KAEF), PT Indofarma Tbk (IDX: INAF), PT Bukit Asam Tbk (IDX: PTBA), PT Indo Tambangraya Megah Tbk (IDX: ITMG), PT Perusahaan Gas Negara Tbk (IDX: PGAS), and PT Indofood Sukses Makmur Tbk (INDF), PT AKR Corporindo Tbk (IDX: AKRA), and PT Unilever Indonesia Tbk (IDX: UNVR).
-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
