{"id":5345,"date":"2025-05-23T02:35:04","date_gmt":"2025-05-23T02:35:04","guid":{"rendered":"https:\/\/himdasun.or.id\/?p=5345"},"modified":"2025-05-23T02:35:05","modified_gmt":"2025-05-23T02:35:05","slug":"trimegah-fi-daily-2","status":"publish","type":"post","link":"https:\/\/himdasun.or.id\/en\/2025\/05\/23\/trimegah-fi-daily-2\/","title":{"rendered":"Trimegah FI Daily"},"content":{"rendered":"<p><em>In May\u201925, US S&amp;P Global Composite PMI rose to 52.1 (prev: 50.6). While price spiked by the most since Aug\u201922, better figures were seen in business confidence and output, thanks to tariff hike pause. From domestic, last quarter, Indonesia\u2019s CA deficit improved to -USD177mn or -0.05% of GDP (TRIM: +USD1.47bn, cons: -USD132mn, prev: -USD1.1bn). Imports dropped by -12.2% q-q to -USD52.3bn. Softening economic activities shall support our CAB structure. On international affairs, MoF and Ministry of Investment &amp; Downstream Industries met Bank of China, covering various topics: access to China\u2019s capital markets, bilateral ties, etc. On external borrowing, MoF converted 27 govt. borrowings, eq. to USD3.3bn denominated in JPY and USD, to IDR.<\/em><\/p>\n\n\n\n<p><em>From the bond market, FR 40, 84, 86, and 76, are currently the cheapest based on our yield curve model. Last national business day, the dollar index was closed at 99.96 (+0.4%). Rupiah was appreciated by 0.4% at USDIDR at 16,330. The UST yield was down by -7.0bps to 4.53% and 10yr INDOGBR was up by +1.7bps to 6.85% \u2013 the spread between the two was at 232bps.<\/em><\/p>\n\n\n\n<p><strong>Economy: In 1Q25, CA deficit improved to \u2013USD177mn or -0.05% of GDP (TRIM: +USD1.47bn, cons: -USD132mn, prev: -USD1.1bn)<\/strong><\/p>\n\n\n\n<p>The drivers were deeper contraction in imports than exports. Imports dropped by -12.2% q-q to -USD52.3bn, and exports declined by -7.8% q-q to USD65.4bn.&nbsp;Furthermore, Capital &amp; Financial Account hit deficit of -USD0.3bn (prev: +USD9.7bn), so 1Q25 BoP was at -USD0.8bn (prev: +7.9bn). Direct investment moderated to +USD2.6bn (prev: +USD3.2bn).&nbsp;<em>Source: Bank Indonesia<\/em><\/p>\n\n\n\n<p><strong>Economy: Indonesia\u2019s MoF met Bank of China<\/strong><\/p>\n\n\n\n<p>Indonesia\u2019s Vice Minister of Finance Thomas Djiwandono, Vice Minister of Investment and Downstream Industry Todotua Pasaribu met Bank of China\u2019s Chairman Ge Haijiao at the bank\u2019s head office. Topics covered were varied, ranging from bilateral ties to economic developments. There were also discussions on RMB internationalization and access to China\u2019s capital markets.&nbsp;<em>Source:&nbsp;Bank of China<\/em><\/p>\n\n\n\n<p><strong>Economy: Indonesia\u2019s borrowings from ADB were converted to IDR<\/strong><\/p>\n\n\n\n<p>ADB and Indonesia\u2019s MoF successfully converted 27 govt. borrowings, eq. to USD3.3bn denominated in USD and JPY, to IDR. The initiative marked the first of such conversions in big scale across Asia Pacific. It also signaled ADB\u2019s commitment to Indonesia\u2019s financial stability and innovation. Vice Minister II of Finance\u2014Thomas Djiwandono\u2014said that the policy would lower our financing costs, ultimately freeing up some fiscal spaces.&nbsp;<em>Source:&nbsp;Kontan<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>In May\u201925, US S&amp;P Global Composite PMI rose to 52.1 (prev: 50.6). While price spiked by the most since Aug\u201922, [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[7],"tags":[],"class_list":["post-5345","post","type-post","status-publish","format-standard","hentry","category-market-research"],"_links":{"self":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/5345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/comments?post=5345"}],"version-history":[{"count":1,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/5345\/revisions"}],"predecessor-version":[{"id":5346,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/5345\/revisions\/5346"}],"wp:attachment":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/media?parent=5345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/categories?post=5345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/tags?post=5345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}