Contrary to most other Asian stock indices, Indonesia's benchmark Jakarta Composite Index opened in the green zone on Monday morning (05/12). While, most markets are plagued by the outcome of Italy's referendum on Sunday (and Italian Prime Minister Matteo Renzi announcing his resignation), Indonesian stocks still seem to continue with the relief rally after the peaceful anti-Ahok demonstration on Friday (02/12). However, rupiah weakness, particularly as the US Federal Reserve may raise rates can limit the rise of local stocks.

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On 4 December 2016, Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website over the last seven days. Most of the topics involve political, social and economy-related topics such as the latest anti-Ahok demonstration, inflation, manufacturing activity, a stock market update, the macroeconomy, the tourism sector, pharmaceuticals, Indonesia's OPEC membership, and more.

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Indonesia's pharmaceutical market will be worth USD $5.8 billion in 2017, up 5-6 percent (y/y) from the preceding year. Growth is attributed to Indonesia's universal health care program (Jaminan Kesehatan Nasional, or JKN) that was launched in 2014. As such, Indonesia's pharmaceutical industry still has great potential, says Parulian Simanjuntak, Executive Director at the International Pharmaceutical Manufacturers' Group (IPMG).

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An Indonesian police plane, on route to Batam, has reportedly crashed between the islands of Mensanak and Sebangka (between Sumatra and Singapore), possibly killing all 13 people on board. The airplane was a twin-engine police jet. Near the crash site items have been recovered that are believed to be parts of the plane. Earlier, Indonesian authorities announced contact with an airplane was lost, 50 minutes after take-off from Pangkal Pinang on the island of Bangka.

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