The Indonesian government proposes to revise the budget deficit in the 2017 State Budget as it eyes an increase in spending but a cut in revenue (less-than-expected tax income) in the remainder of the year. On Thursday (06/07) Indonesian Finance Minister Sri Mulyani Indrawati handed the proposal to Commission XI of Indonesian parliament. The Finance Ministry now sees the shortfall rising to IDR 36.16 trillion (approx. USD $2.7 billion) in the 2017 budget.

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Asian shares are under pressure on Friday morning (07/07) due to declines on Wall Street overnight. These declines were caused by the ADP jobs report, released on Thursday (06/07), that missed estimates as well as by rising tensions surrounding North Korea's ballistic missile tests and a tech sell-off. Meanwhile, global sovereign debt yields rose on expectation that the European Central Bank (ECB) is moving closer toward unwinding its massive monetary stimulus.

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On Thursday (06/07) Indonesia's benchmark Jakarta Composite Index advanced 0.42 percent to 5,849.58 points amid mixed Asian markets. Indonesian stocks are now again approaching the record high level that was set earlier this week. Local Indonesian securities companies are confident to see the benchmark index of Indonesia rising further in the remainder of the year, passing beyond the 6,000 level. Which Indonesian stocks do these companies recommend?

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Instant noodles are an important food product in Indonesia as they are highly popular among the giant population. Indomie, an instant noodle brand produced by Indofood Sukses Makmur, is the most famous one. In fact, it is the most popular brand in Indonesia (not only of all instant noodle brands, but of all brands in Indonesia). Indofood Sukses Makmur said its Indomie sales rose ahead of Idul Fitri (the celebrations that mark the end of the Ramadan month), both domestic sales and export orders.

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