Good News From US & China, JCI If Not Holidays Can Be Green
Blog
31 July 2020

Good News From US & China, JCI If Not Holidays Can Be Green

Jakarta, CNBC Indonesia - Indonesia's stock market today, Friday (07/31/2020), Eid al-Adha holiday, but if it opens the Composite Stock Price Index (CSPI) has the opportunity to turn green. Market sentiment began to improve today, reflected in the strengthening of Asian stock markets.

The recession issue yesterday made Asian, European and US stock exchanges fall. Understandably, recession occurred on three continents. In Asia, Hong Kong reported economic growth in the second quarter of 2020 which contracted (growing minus) 9% year-on-year (YoY), while in the previous quarter -9.1% YoY.

From Asia turning to Europe, Germany also suffered the same fate. Gross domestic product (GDP) in the second quarter of 2020 was reported -11.7% YoY, while in the previous quarter -2.3 YoY. The driving force of this European economy was legally experiencing a recession.

Turning to the American continent, the Superpower, United States, finally officially experienced a recession. No half-hearted, in the second quarter of 2020 US GDP contracted 32.9%. Although better than Wall Street predictions, but the contraction is the deepest in history.

The recession on the three continents caused the stock index to fall, but this morning began to rise again. Dow Jones, S&P 500 and Nasdaq index futures rose this morning, an indication that the US stock market (Wall Street) will turn green at the opening of trading tonight (US morning morning).

Strengthening the index futures was triggered by the strengthening of technology giant Uncle Sam's shares. Facebook, Amazon, Alphabet, and Apple all posted better earnings than the market forecast in the second quarter of 2020. Nasdaq index futures also shot almost 1% this morning.

Positive air from the US plus good news from China. Chinese manufacturing activity this month reportedly expanded again. Data showed China's manufacturing purchasing managers' index (PMI) of 51.1, up compared to June's 50.9.

PMI uses the number 50 as the threshold, above 50 means expansion, while below that means contraction.

With the release of data today, it means that China's manufacturing sector has expanded in five consecutive months. A post-economic revival hit by a corona virus pandemic (Covid-19).

China is the origin of the corona virus, the economy was hit hard in the first quarter of 2020, but managed to rise in the next 3 months.

China's gross domestic product (GDP) contracted alias minus 6.8% year-on-year (YoY) in the first quarter of 2020, becoming the worst in history. In the second quarter of 2020, the country's GDP with the second largest economy in the world grew by 3.2% YoY.

The manufacturing sector which has again expanded to become one of the engines of China's economic revival. The quite high expansion in the early third quarter of 2020 certainly gives hope that China's GDP will be higher than the previous quarter.

Thanks to the data, Asian stock indexes turned green, the Shanghai Composite index surged 1.07%, Hong Kong's Hang Seng + 0.19%, South Korean Kospi + 0.51%, only Japan's Nikkei fell sharply 1.81%.

Seeing the movement of the Asian exchanges, JCI is also likely to turn green, if it is not a holiday.

Calm down, the Gold Signal Will Skyrocket, Get Ready!

Calm down, the Gold Signal Will Skyrocket, Get Ready!

Jakarta, CNBC Indonesia - The price of gold has slowly started to climb again since last Wednesday after dropping more than 5% on Tuesday (11/8/2020). In trading on Thursday (13/8/2020), at 16:43 WIB, the price of gold was traded in the range of US $ 1,930.64 / troy ounce, up 0.6% in the spot market, according to Refinitiv data.

Read More
Sputnik V, the World's First Covid-19 Vaccine from Russia

Sputnik V, the World's First Covid-19 Vaccine from Russia

Moscow: Sputnik V is the name of the coronavirus (covid-19) vaccine that President Vladimir Putin has approved. The name will later be used for foreign markets.

The name of the vaccine is taken from the first Russian satellite to launch into space.

 

Read More
BMKG Reveals the Causes of Tsunami Arcus Clouds in Aceh

BMKG Reveals the Causes of Tsunami Arcus Clouds in Aceh

Jakarta, CNN Indonesia - The Meteorology, Climatology and Geophysics Agency (BMKG) stated that the phenomenon of the black cloud which is shaped like a tsunami wave in West Aceh and Nagan Raya districts is a phenomenon of the Arcus cloud.

Read More
Why Jokowi Asks Local Government Sanctions Covid-19 Protocol Violators?

Why Jokowi Asks Local Government Sanctions Covid-19 Protocol Violators?

Jakarta, CNBC Indonesia - President Joko Widodo (Jokowi) has ordered every regional head spread across various parts of Indonesia to issue regulations regarding the implementation of health protocols.

Read More
What We Know from the Big Explosion in Lebanon

What We Know from the Big Explosion in Lebanon

A big explosion rocked the Lebanese capital Beirut on Tuesday (4/8). After the explosion, a fire struck the scene so close to the port in Beirut.

The unfortunate incident, so far has caused 78 people killed and injured more than 4,000 others.

Read More
BPPT: Telemedicine for Covid-19 Press in RI Not Perfect

BPPT: Telemedicine for Covid-19 Press in RI Not Perfect

Jakarta, CNN Indonesia - Agency for the Assessment and Application of Technology (BPPT) said it was improving the infrastructure of long-distance medical service equipment or telemedicine so that it could be implemented in all hospitals and puskesmas in Indonesia to cure corona Covid-19 patients.

Read More
See All Blog
Icon