Production of crude palm oil (CPO) in Indonesia is estimated to rise to 33 million tons in 2016, roughly 500,000 tons lower than the initial forecast as the El Nino weather phenomenon is expected to impact on agricultural output by causing an extended dry season in Southeast Asia (that will perhaps last beyond December). This year, Indonesia, the global leading CPO producer and exporter, is expected to produce 31.5 million tons. Reduced output in Indonesia may support palm oil prices.

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With the exception of Japan, the majority of stock markets in Asia were under pressure on Wednesday (21/10) on concern about China's economic growth as Japan's exports to China fell 3.5 percent year-on-year in September. Today, it was announced that Japan posted a USD $95 billion trade deficit in September, worse than previously estimated, primarily on weakening exports due to slowing economic growth in China. However, Japanese stocks rose on stimulus hopes.

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The House of Representatives of Indonesia (DPR) is scheduled to meet on Thursday (22/10) to discuss the government's revised 2016 macroeconomic assumptions. In August 2015, Indonesian President Joko Widodo had unveiled the government's draft 2016 State Budget. However, due to overly optimistic assumptions, there has been the need for several revisions.

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A non-ministerial agency in Indonesia advises the government to open the cinema industry to foreign investment in an effort to boost the local movie industry while encouraging the arrival of more foreign direct investment (FDI) into Indonesia, hence boosting sluggish economic growth in Southeast Asia's largest economy. Currently, FDI in the domestic movie industry is not allowed by a Presidential Regulation issued in 2014. According to this regulation, companies that produce, distribute, or promote movies as well as movie theaters or cinemas have to be fully Indonesian-owned.

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