US Manufacturing PMI is significantly contracted to 47.7 points as borrowing costs rise higher, weighing the demand for the goods. The manufacturing contraction proved the FFR gains had cooled the US domestic economy, with mixed responses from the investors and Wall Street closed mixed. Currently, the market sees the probability of an increase in Dec. FFR +50Bps by 79% (Vs. +75Bps by 21%). Investors are also looking forward to November’s Nonfarm Payrolls Data local time as a hint of how the FFR’s rise has affected the labor market. After Thursday’s US Labor Department showed Initial Jobless Claims within the week, fell by 7% to as many as 225K claims.

Corporate Bonds
TOWR: Profits Fall Amid Rising Revenue. PT Sarana Menara Nusantara Tbk (TOWR) achieved an IDR8.1 trillion revenue up to 3Q22, an increase of 33.6% YoY. The company recorded a cost of revenue of IDR2.18 trillion and a gross profit of IDR5.92 trillion as of 3Q22. However, the company’s profit in the current period fell slightly from IDR2.6 trillion to IDR2.58 trillion by the end of 3Q22. (Emiten News)

Domestic Issue
Statistics Indonesia: 0.09% MoM Inflation Occurs. After recording a deflation of 0.11% MoM in October 2022, the Consumer Price Index (CPI) turned around to experience inflation in November 2022. Statistics Indonesia noted that inflation in the reporting month was 0.09% MoM, with the CPI recorded at 112.85. In detail, the major inflation contributors come from the food group. (Kontan)

Indonesia’s Manufacturing PMI is approaching contraction, indicating that the increase in BI 7DRR +175Bps YtD impacted domestic consumption. Meanwhile, Indonesia’s Nov. Inflation Headline data was maintained at 5.42% YoY (Vs. Oct. 5.71) amidst high global inflation pressures. Even though the Window Dressing month has entered, the Technology and Financial Sectors’ depreciation yesterday makes NHKSI Research project that today’s JCI tends to move sideways.

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