IDR outperforms in the Asian EM basket...>

DOLLAR-IDR: IDR outperforms in the Asian EM basket & fares better than the

greenback after Bank Indonesia declared readiness to step into bond, FX & DNDF

mkts to stabilise the rupiah if needed. USD/IDR changes hands -16 pips at

IDR13,734, having moved away from its earlier lows.

- The rupiah is nonetheless limited by broader risk backdrop, dictated by the

coronavirus situation. Today's surge in South Korean case count & two more cases

confirmed in Australia have dented appetite for riskier assets.

- Yesterday Bank Indonesia joined the BSP, BoT & BNM in the club of regional

central banks, which have already trimmed borrowing costs this year. Indonesian

policymakers slashed their forecasts of both global & domestic growth and

signalled readiness to cut rates further.

- Yesterday's high of IDR13,775 needs to be taken for bullish momentum to

resume. The next topside target is located at IDR13,781, the 50-DMA. Bears need

a drop below the Feb 18 trough/trendline support at IDR13,655/50 to return the

focus to the downside.

- The local docket is virtually empty thin next week.