INDONESIA ECONOMIC WEEK IN REVIEW1 9 – 13 September 2019 WEEKLY ECONOMIC HIGHLIGHTS  The Jakarta Composite Index rose 0.4 percent last week, in line with most major markets in the region.  The Rupiah, over the week, appreciated against the U.S. Dollar, Euro and Japanese Yen by 1.3 percent, 1.1 percent and 2.3 percent, respectively.  The Government raised IDR 23.25 trillion from the issuance of Rupiah-denominated bonds on September 10.  The Government will raise the premium of the cheapest social insurance category by 65 percent, and the premia of the other two categories by 100 percent.  Retail sales recorded a 2.4 percent yoy increase in July 2019.  The Parliament approves the central government budget in 2020 of IDR 1,683 trillion compared to the proposed IDR 1,670 trillion. IDX composite index IDR/USD exchange rate Level (index) and weekly change (percent) Level (IDR/USD) and weekly change (percent) IDR 5-year government bond yield Indonesia USD EMBI Spread Level (percent) and weekly change (bps) Level (percent) and weekly change (bps) FINANCIAL MARKET INDICATORS Change or total: Date of Latest latest Year to Indicator value value Unit 7 days* 30 days* 90 days date Stock market Jakarta Composite Index 6,335 13 Sep 0.4% 2.0% 1.4% 2.3% Net purchases by foreign investors -0.14 13 Sep IDR, tn -1.3 -8.3 -1.2 55.7 Exchange rate: USD/IDR 13,950 13 Sep -1.3% -2.3% -2.5% -4.1% Government bonds Yield: 1 year IDR bond 6.2% 13 Sep bps -0.5 -12 -35 -65 Yield: 5-year IDR bond 6.8% 13 Sep bps -13 -22 -54 -122 Yield: 10-year IDR bond 7.3% 13 Sep bps -15 -21 -47 -76 Foreign investor holdings of IDR 1022 13 Sep IDR, tn 11.7 15.7 67.1 128.9 government bonds Indonesia USD bonds stripped spread 156 13 Sep bps -24 -35 -37 -74 Asia USD bonds stripped spread 165 13 Sep bps -19 -24 -21 -49 Interest rates IndONIA 5.3% 13 Sep bps -59 31 -59 -59 Spread relative to policy rate -18 13 Sep bps -9 6 -9 -9 International reserves 126.4 30 Aug USD, bn -- 2.6 2.1 5.7 * One week and month prior to the latest observation 1DISCLAIMER This is an internal document and is not for wider circulation. All data and information are from third party sources unless otherwise noted (full list of sources provided at the end of the document). The accuracy of data, statistics or events presented in this document are not independently verified and the document reflects staff interpretation of recent economic developments. INTERNATIONAL FINANCIAL MARKET INDICATORS Value on Change since Change over earlier period 8-Nov-16 Year on Year to 13-Sep-19 US 7 days 30 days 90 days year date Election STOCK MARKET Indonesia Composite Index 6,335 15.8% 8.1% 0.4% 2.0% 1.4% 2.3% Agriculture 1,366 -22.9% -15.5% 1.8% -3.2% -1.1% -12.7% Mining 1,670 20.1% -12.5% -1.3% 4.2% 3.4% -6.0% Finance 1,269 54.5% 20.1% 0.9% 0.3% 0.1% 7.9% Basic industry 899 65.2% 13.7% -1.1% 10.7% 19.2% 5.2% Consumer 2,366 -5.5% -3.8% 0.3% 1.6% -3.3% -7.9% Manufacturing 1,530 6.2% 1.2% -0.1% 3.9% 1.7% -5.5% Infras., utilities & trans 1,197 8.0% 18.2% 0.6% -0.1% 2.1% 12.5% Australia 6,777 26.9% 8.6% 0.4% 1.9% 2.2% 18.6% H.K. 27,353 19.4% 1.3% 2.5% 8.2% 0.9% 7.2% Japan 21,988 28.1% -3.7% 3.7% 7.5% 4.1% 9.9% Malaysia 11,146 -2.3% -9.4% 0.2% 0.2% -2.3% -2.7% Philippines 7,992 9.4% 6.3% 0.7% 2.6% 0.0% 7.0% Singapore 3,195 13.3% 2.0% 1.5% 1.5% -0.9% 4.6% Thailand 1,662 10.1% -3.3% -0.5% 2.6% -0.6% 6.3% U.S. S&P 500 3,007 40.6% 3.6% 1.0% 2.8% 4.2% 21.0% FOREIGN EXCHANGE RATES USD exchange rates: IDR 13,950 6.6% -5.7% -1.3% -2.3% -2.5% -4.1% Euro 0.90 -0.5% 4.7% -0.6% 1.1% 1.5% 3.2% Singapore Dollar 1.38 -1.0% 0.3% -0.6% -0.8% 0.6% 0.6% Thai Baht 30.44 -13.0% -6.7% -0.7% -1.2% -2.5% -6.2% Korean Won 1,191 4.9% 6.1% -0.5% -2.6% 0.5% 6.7% Japanese Yen 107.95 3.4% -3.2% 0.9% 1.4% -0.2% -2.2% IDR cross rates: Euro 15,437 6.9% -10.3% -1.1% -3.5% -4.3% -7.3% 100 Yen 12,897 2.9% -3.0% -2.3% -4.8% -2.3% -1.9% UPCOMING EVENTS AND DATA RELEASES  Bank Indonesia Board of Governor’s Meeting (September 18-19, 2019) DATA SOURCES Data are taken from CEIC, with the following exceptions: the latest Jakarta Stock Exchange and Indonesian government IDR bond yield data are taken from the Indonesian Stock Exchange (www.idx.co.id), and IDR mid exchange rates from Bank Indonesia (www.bi.go.id), after 5 pm each day. BI reports international reserves data directly, with a lag of approximately two weeks. CEIC provides the latest BI JIBOR rates via a special direct data service. The Directorate General of Debt Management at the Indonesian Ministry of Finance provides data on the foreign holdings of IDR government bonds (www.djppr.kemenkeu.go.id) contains the most recent observation). Indonesian government USD bond spreads are sourced from DEC’s GEM dataset.