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INDONESIA: Country Wrap: Indonesia Looking to Diversify Trade Relationships. 

INDONESIA
  • Indonesia’s Deputy Trade Minister Roro said that Indonesia is looking to diversify the markets it operates in to protect its local manufacturers in an interview, noting that discussions are currently focused on Peru, Canada and the EU with longer term goals of bilateral agreements with India. (source: BBG)
  • Indonesia signed 12 memorandums of understanding this week in areas such as energy, minerals and mining, health, media, agriculture as well as a joint venture deal for a drone factory in Indonesia.  The announcements form part of broader discussions about a comprehensive economic partnership between the two countries. (source: BBG)
  • The Jakarta Composite’s fall continues and is now back at levels not seen since late 2021, following today’s decline of -0.90%
  • IDR: a better day for Asean currencies following US moves overnight, the IDR +0.11% better at 16,358
  • Bonds: there is general risk aversion in Indonesian markets at the moment as evidenced by the equity market with bonds following suit selling off, driving yields higher across the curve.  Yields were up to 3bps higher in some maturities.  INDOGB 10YR 6.84% (+1.2bp)
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  • Indonesia’s Deputy Trade Minister Roro said that Indonesia is looking to diversify the markets it operates in to protect its local manufacturers in an interview, noting that discussions are currently focused on Peru, Canada and the EU with longer term goals of bilateral agreements with India. (source: BBG)
  • Indonesia signed 12 memorandums of understanding this week in areas such as energy, minerals and mining, health, media, agriculture as well as a joint venture deal for a drone factory in Indonesia.  The announcements form part of broader discussions about a comprehensive economic partnership between the two countries. (source: BBG)
  • The Jakarta Composite’s fall continues and is now back at levels not seen since late 2021, following today’s decline of -0.90%
  • IDR: a better day for Asean currencies following US moves overnight, the IDR +0.11% better at 16,358
  • Bonds: there is general risk aversion in Indonesian markets at the moment as evidenced by the equity market with bonds following suit selling off, driving yields higher across the curve.  Yields were up to 3bps higher in some maturities.  INDOGB 10YR 6.84% (+1.2bp)