Indonesians Are Feeling Market Gloom Ahead of Major Eid Holiday

(Bloomberg) – Market disturbances in Indonesia add economic concerns that capture feelings between consumers, companies and retailers before one of the largest holidays in Southeast Asia.

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Bindika Alfinta, the strategic expert on independent marketing in the central town of Yogiakarta in Java, says that the “neurological” segment in Indonesian stocks focuses on the investment portfolio that focuses largely on shares, followed by government retail ties and mutual investment funds and gold.

She said, “I still think the stock index will recover, but in the long run, just like many people, I am less confident in economic expectations, so I am more cautious in investing.” The 29 -year -old girl retracts some spending, including postponement plans to renew her home and replace furniture.

It is expected that tens of millions of Indonesian will travel this year for the Eid al -Fitr season via Java, Sumatra, Burnio and other archipelago islands against the background of accumulated confidence. He added budget discounts, popular spending plans, and uncertainty in politics during president Brabu Sobanto’s era.

The Jakarta Composite Index, which recently recorded the largest decrease in the day in more than a decade, is among the worst performance in the world this year, while Ruby slides on March 25 to the weakest level since the Asian financial crisis in the late 1990s.

Now, the local markets get a break, and close for more than a week to celebrate the end of the month of Ramadan.

At a time when pocket books are lighter, economic news is dark, and the roads are less crowded than usual: the Ministry of Transport estimates that about 146 million people will travel this year, a decrease of more than 45 million from last year. The factors that affect families in recent months have managed a series of demobilization operations in the country’s huge tissue industry to twice the prices of nickel and slip in the rupee.

Cinta and Widajja Kamdani, President of the Indonesian employers’ Association, indicated that the costs of raw materials increased last month in the wake of a decrease in rupee.

“The high costs of inputs will lead to the erosion of margins and may increase the sale of prices,” she said in a statement. This “can lead to a decrease in the purchasing power of people and poor general economic growth.”

DAPIREAROONSE, which runs the business that runs the DAPUR Makaro foodstuffs in South Jakarta, said that the price of salmon for one of its most popular dishes rose about 15 % this month alone.