Anti Zero-Covid demonstration that led to China’s domestic political tension will impact the country as the world’s second-largest economy. At the beginning of the week, investors tend to be Risk-On on the Safe Haven, with yields falling on UST2Y and UST10Y, contrasting with Wall Street stock markets that consistently move in the red zone. Another Safe Haven instrument was also appreciated, DXY again trading above the psychological level of 105 points. Meanwhile, global crude oil is again under pressure, contrasting to the start of the European Union’s ban on Russian crude imports as of December 5.
INDY: Dominating Kideco Jaya Agung. PT Indika Energy Tbk (INDY) completed the purchase of Kideco Jaya Agung shares of USD 160 million. The 100,139 shares transaction was purchased by the company of ST International Co Ltd (Samtan). The company completed the transaction on November 23, 2022. Additionally, the early payment of the contingent reward is the company’s effort to reduce costs that might arise in the future. (Emiten News)
The Disburse of Direct Cast Assistance for Fuel Oil Phase II Begin. The government began to disburse Direct Cash Assistance for Fuel Oil (BLT BBM). The distribution will be completed in ten days, starting November 23, 2022. The government also distributed Family Hope Program (PKH) Assistance for this fourth quarter towards 10 million Beneficiary Families (KPM) with varied nominal amounts, ranging from IDR200 thousand to IDR3 million, it depends on the recipient’s rights. (Tempo.co)
Wait and See ahead of the BI Annual Meeting. Investors look forward to BI’s views on the economy and monetary policy this year and next at the BI Annual Meeting scheduled on Wednesday, November 30.
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