Indonesia's Transportation Ministry is optimistic that the construction of the Patimban Seaport in Subang (West Java) can commence in June 2018 after the Idul Fitri celebrations have completed. Meanwhile, the port operator tender is scheduled to be opened in July 2018. The USD $3.1 billion Patimban seaport is envisaged to become a key international seaport in Indonesia with a 7.5 million twenty-foot equivalent units (TEU) capacity.

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The Indonesian government sign an agreement with the Japan International Cooperation Agency (JICA) for a soft loan related to the funding of two national strategic priority projects. The government will borrow 127.2 billion Japanese yen (approx. USD $1.1 billion) for the construction of the Patimban Seaport in West Java (USD $1.05 billion) and for turning the Gadjah Mada University into a world class university (USD $66.67 million).

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Early this morning (Tuesday 29 August) North Korea fired another ballistic missile test. This time, however, the missile went over the northern part of Japan, an apparent attempt to provoke those who oppose North Korea's test program. The test did not lead to damage or injuries and broke into three pieces before plunging in the Pacific Ocean. While the world is now particularly waiting for a response from the USA, markets have already responded.

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Five automotive brands from Japan controlled car sales in Indonesia in the first half of 2017 with a dominating (combined) market share of about 90 percent. Based on data from the Indonesian Automotive Industry Association (Gaikindo), Toyota, Daihatsu, Honda, Mitsubishi and Suzuki accounted for about 90 percent of total car sales in Indonesia during the January-June 2017 period. In total, 533,903 car units were sold in this six-month period.

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American finance firm Goldman Sachs Group Inc expects a big flow of funds from Japan to enter Indonesia's capital markets if credit rating agency Standard & Poor's (S&P) decides to upgrade Indonesia's sovereign debt rating to investment grade. While Fitch Ratings and Moody's Investors Service have already upgraded Indonesia to investment grade status several years ago, S&P still rates Indonesia's debt one notch below investment grade, implying various big institutional investors cannot invest in Indonesian debt as they require investment grade ratings from all three key credit ratings agencies.

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Indonesian President Joko Widodo and Japanese Prime Minister Shinzo Abe will witness the signing of a joint study (a cooperation between Indonesia's Transportation Ministry and the Japan International Cooperation Agency, or JICA) into the medium speed railway - connecting Jakarta to Surabaya - on 15 January 2017 at the Presidential Palace in Bogor. Besides the medium speed railway, Widodo and Abe will also discuss funding for a deep-sea port project in Patimban (West Java) as well as contracts for the Masela oil & gas block in eastern Indonesia.

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There is plenty of news that is impacting on Asia's financial markets this morning: a big earthquake (as well as tsunami alert) occurred in Japan's Fukushima, the crude oil price surged to a three-week high, US stocks touched record high levels overnight, while Indonesian authorities officially banned another "anti-Ahok protest" rally. Most Asian stocks are rising on Tuesday morning (22/11) although Indonesia's benchmark Jakarta Composite Index started in the red. However, the index quickly entered green territory some time later. Meanwhile, the rupiah remains under pressure. Lets take a closer look.

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The Indonesian government under the leadership of President Joko Widodo is eager to join the Trans-Pacific Partnership (TPP), the trade deal (signed in October 2015) that involves twelve countries, including the USA and Japan. However, opinions vary about whether it would be a wise decision for Indonesia to join the TPP. Airlangga Hartarto, Indonesian Minister of Industry, is a supporter, claiming that Indonesia can become a more attractive export hub for Japanese manufacturers due to zero export tariffs.

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Although the economy of Indonesia will continue to face challenges in 2017, there are a couple of matters that give rise to optimism about accelerating economic growth. These were the conclusions drawn at the Entrepreneur Networking Forum that was held by Bank Tabungan Negara Pensiunan Nasional in Bandung (West Java) on Wednesday (14/09). Although expectations were recently revised down (due to government budget cuts), Indonesian economic growth is still set to rebound in 2016 after having experienced several years of slowdown.

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Contrary to the positive performance of most emerging market stocks, Indonesia's benchmark Jakarta Composite Index fell more than one percent on Monday (15/08). While other markets were supported by advances in crude oil prices and a rally in Chinese shares, Indonesian shares declined on the nation's weak trade data that were released by Indonesia's Statistics Agency today. Investors were eager to use this opportunity to engage in profit taking as the Jakarta Composite Index nearly touched a record-high level after an impressive recent rally.

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After rallying for three days to try to end on a new resistance level, the Indonesia Stock Exchange (IHSG) finally had to retreat. As we suspected, the index weakened after its record high. Moreover, American and European indices were weak on Thursday, thus influencing the performance of the IHSG on Friday. Lastly, a number of Asian companies reported weak corporate reports that subsequently impacted on Asian stock indices, including the IHSG.

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The positive response of Asian stock markets towards manufacture data from Europe, and the rebound of American and European stocks turned the Indonesia Stock Exchange (IHSG) back into green territory. Positive market sentiments impacted - as usual - on commodity stocks, particularly mining stocks, and which thus gained the most: Vale Indonesia (INCO), Antam (ANTM), Timah (TINS), and Resource Alam Indonesia (KKGI) all increased significantly.

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