Third-quarter corporate earnings of Astra International, one of Indonesia's largest diversified conglomerates, cause concern that economic growth of Indonesia has continued to slow in Q3-2015. Corporate earnings of Astra International are a solid indicator of the country's total growth as the company is engaged in basically all key sectors of the economy. Astra reported a 17.2 percent decline (year-on-year) in net profit to IDR 12 trillion (approx. USD $888 million). Sales fell 8 percent (y/y) to IDR 138 trillion.

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Indonesian assets are leading declines in Asia's equity and currency markets on today's trading day after a 'hawkish' statement released by the Federal Reserve indicated that the US will not raise its Fed Fund Rate yet, but does seem to open a door to a December interest rate hike. Despite the good performance of US stocks on Wednesday (28/10), most Asian markets were down today. Moreover, solid factory output in Japan reduced chances of further stimulus measures in Japan (Japan's central bank is to meet this Friday).

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The ongoing forest fires on parts of Sumatra and Kalimantan, brought about by people's slash-and-burn practices to clear land for palm oil and paper industries, are now labelled a crime against humanity by global media while Indonesia has turned into the world's largest daily carbon dioxide emissions surpassing China and the USA. The severe haze that has been plaguing parts of Southeast Asia brings health problems, economic costs and bad publicity amid a time when most countries are teaming up to combat global warming.

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Most Asian stocks declined on Wednesday (28/10) as markets are waiting for results of the Federal Reserve's two-day policy meeting (later today the Fed will release a statement). Although analysts and investors seem confident that the US central bank will delay raising its key Fed Fund Rate (and will not provide a clear signal about the timing of higher rates), markets remain cautious. Moreover, oil prices fell to two-month lows overnight.

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