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Mandiri Sekuritas: Indonesia Is Still Far From Possible Crisis


Mandiri Sekuritas: Indonesia Is Still Far From Possible Crisis

Some believe the Argentine crisis could be an early indication could happen in other countries. Indonesia is considered by many observers as potentially affected. Moreover, since the beginning of the year rupiah weakened 4.09%.

Even so, Mandiri Sekuritas believes Indonesia is still far from the crisis. "We are still far away from the possibility of a crisis like Argentina. Our inflation is still controlled and maintained once, still single digits," said Deputy Head of Equity Research Mandiri Sekuritas Tjandra Lienandjaja Friday (25/05/2018).

Just so you know, the Argentine peso had weakened to 34.16% since the beginning of the year to 24.98 per US dollar (US). In order to withstand the fall of the Peso, the Argentine Central Bank was forced to hoist interest rates to 40% from 33.25% where the previous day interest rates had been raised at 30.25%. A week earlier, Argentina's interest rate was still 27.25%.

Meanwhile, in Indonesia, at the beginning of 2018 Mandiri Sekuritas predicts that the Composite Stock Price Index (CSPI) will be in the range of 6,700-7,100, but in recent weeks the forecast is down to 6,325 by year-end. Citing RTI, Friday (25/5) JCI closed up 29.20 points or equivalent 0.49% to the level of 5.975.

Tjandra Lienandjaja said Mandiri Sekuritas projected JCI 6.325 target until the end of the year. "It used to be a long way down and we have not seen any sign of it yet, we are still convinced that the 25 basis points increase for Indonesia is already in market expansion and we do not expect any more drastic increases," he said Friday (25/5)

Market expansions from Mandiri Sekuritas have included the outcome of the FOMC meeting in June with the possibility of another US rate hike, possibly after Lebaran in June or next month around August.

Author: Noval Irmawan
Editor: Asri Nuryani
Image: Kumparan

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