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Jakarta traders look for signals from Trump inauguration, banking reports

Traders in Jakarta are bracing for the inauguration of Donald Trump as US president on Monday and will watch closely for his day-one policies, especially for potential changes in trade and immigration policies that could impact global business and investor sentiment.

Aditya Hadi (The Jakarta Post)
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Jakarta
Mon, January 20, 2025

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Jakarta traders look for signals from Trump inauguration, banking reports Eye on economy: Traders look at their computer screens while monitoring market movements in Jakarta on March 16, 2023. (AFP/Bay Ismoyo)

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raders in Jakarta are bracing for the inauguration of Donald Trump as United States president on Monday and will watch closely for his day-one policies, especially for potential changes in trade and immigration policies that could impact global business and investor sentiment.

Rully Arya Wisnubroto, a senior economist at local brokerage Mirae Asset Sekuritas, highlighted the risk of continued dollar strength as a key factor for emerging markets. The dollar index has been rising since last year, and the rupiah has been one of the weaker-performing currencies, he stated, as it depreciated by 1.6 percent last year.

“In our view, Trump is likely to implement pro-growth economic policies and will be highly aggressive in boosting US economic growth. His economic policy approach is characterized by tax cuts, deregulation, a pro-business stance and protectionism,” Rully said in his analysis on Monday.

Fanny Suherman, head of retail research at BNI Sekuritas, another local brokerage, pointed out that the US’ core consumer price index (CPI) in December grew at a slower-than-expected pace, and yields on 10-year US Treasury bonds have sharply declined, fueling hopes of several interest rate cuts this year.

US market watchers will also turn to Friday’s release of January consumer sentiment data and Thursday’s jobless claims report.

In Indonesia, annual reports to be published this week by banks BCA and BNI will provide insight on credit growth and the performance of the domestic banking industry.

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The Indonesian Stock Exchange (IDX) Composite Index rose slightly to 7,180.8 points by Monday midday and has gained 1.42 percent so far this year.

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