The Jakarta Composite Index (JCI) closed up 0.48% to the level of 6,107.21, after foreign investors made a net purchase of IDR 495 billion on the regular market. The easing of stock market volatility has prompted market participants to return to interest in stocks, which are riskier assets. Yesterday’s market movement, which was also prevented by the release of external economic data, caused the price of Government Securities (SUN) to turn lower. Investors are again paying close attention to the United States (US) stimulus package negotiations, as Joe Biden discusses a lower than proposed USD 1.9 trillion stimulus package. SUN prices closed mixed with the majority weakening, with the 10-year benchmark yield rising 2 bps to 6.19%.

Waskita Karya Proposes Relief of Terms. Continuous Bonds III Phase II Year 2018 Series A worth IDR 1.17 trillion owned by Waskita Karya Tbk (WSKT) will mature on February 23, 2021. Bonds maturing in February 2021 will be met through internal cash originating from project payments. Meanwhile, the plan to hold a general meeting of bondholders (RUPO) which will be held on February 9-February 11, 2021 is carried out in order to obtain the financial ratio waiver covenant approval for all issued bonds. The bonds in question are Continuous Bonds II Phase II Year 2016 worth IDR 900 billion due in September 2021 and Continuous Bonds II Phase III Year 2017 series B worth IDR 910 billion will mature in February 2022. Then Sustainable Bonds III Phase III 2018 Series A worth IDR 761 billion and series B worth IDR 941.75 billion will mature in September 2023. Continuous bonds III Phase I 2017 Series B worth IDR 1.63 trillion will mature in October 2022. As well as Sustainable Bonds III Phase IV Year 2019 Series A worth IDR 484 billion will mature in May 2022, and Series B worth IDR 1.36 trillion which will mature in May 2024. Finally, the Continuous Bond IV Phase I 2020 worth IDR 135.5 billion will mature on May 16, 2024 and Bonds Continuous III Phase II Year 2018 Series A worth IDR 1.17 trillion due in February 2021 and Series B worth IDR 2.28 trillion due in February 2023. (Kontan)

Expenditure Realization of 13 K / L 2020 Reaches IDR 29.63 Trillion. The Head of State Financial Audit I BPK RI said that the expenditure realization of 13 ministries / agencies (K / L) under the Coordinating Ministry for Political, Legal and Security Affairs throughout 2020 was IDR 23.88 trillion or 80.6% of the total budget of IDR 29.63 trillion. This indicates that the absorption is quite high. The realization of IDR 23.88 trillion will be the object of examination of the 2020 financial statements. As for the 2019 Financial Report of the Ministry of Institutions (LKKL), BPK provides an Unqualified Opinion (WTP) for 17 K / L from 20 K / L under the Ministry of Political, Law and Security Affairs. In other words, more than 80% received a WTP opinion, while there were two K / L who received an unqualified opinion and one K / L did not give an opinion. (Investor Daily)

Waiting for Indonesia’s GDP Data. The movement of the SUN market this weekend amid pressure from the rupiah exchange rate. The rupiah exchange rate was relatively stagnant at IDR 14,015 / USD on the spot market yesterday. Meanwhile, the US economic outlook is better and the strengthening of the US bond market is a negative sentiment for the rupiah exchange rate. Today, market players are waiting for Indonesia’s 4Q20 Gross Domestic Product (GDP) data which is projected to contract by -2.3% YoY. In the short term, investors can look back at FR0086, FR0087, FR0088, and FR0083.