USD/IDR trades +42 at IDR13,657,.........>

DOLLAR-IDR: USD/IDR trades +42 at IDR13,657, showing above the channel top at

IDR13,653. Concern about the economic toll of China's coronavirus continues to

generate selling pressure on the rupiah. As a result, Bank Indonesia intervened

in bonds, FX & DNDF markets to maintain IDR stability. Per a BI off'l, the Bank

purchased bonds from secondary mkt between 10:15-10:45am local time. This is the

second day when BI steps in to stabilise IDR, despite rhetoric pointing to

fundamentals-driven rupiah appreciation over the recent months.

- Indonesian FinMin Indrawati said that he expects the country's GDP growth to

have slightly accelerated to 5.06% Y/Y in Q4 from 5.02% recorded in Q3. This

would put GDP growth for the full 2019 at 5.05%, below gov't target of 5.3%

(same as this year's target). Official GDP data is due next week.

- A lift above the Jan 22 high of IDR13,685 would encourage bulls to target

IDR13,720, where the rate peaked on Jan 15. On the flip side, bears look for a

pullback and slide through the multi-year low of IDR13,577, registered last

Friday. A break here would bring the IDR13,500 into play.