The economies of Indonesia and other countries in Southeast Asia may feel the impact of US President Donald Trump's impending tax reforms. Currently markets are focused on these reforms. On Wednesday (26/04) Trump is set to propose steep cuts in US corporate taxes (from 35 percent to 15 percent) and the tax rate on offshore earnings that are repatriated (from 35 percent to 10 percent), while individual taxes will be simplified. These proposals will require US Congress approval before implementation.

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Kalbe Farma, Indonesia's largest pharmaceutical company, is set to start marketing its erythropoietin product (also known as EPO) domestically. Starting from mid-2018 Kalbe Farma will produce EPO, one of the raw materials for the production of medicines to treat cancer and kidney disease. The pharmaceutical company will become the first publicly listed company on the Indonesia Stock Exchange that produces EPO.

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Three Indonesian tire manufacturers, all listed on the Indonesia Stock Exchange, are showing the same trend over the past year: earnings from the domestic market are rising, while earnings from exports are declining. This could be a sign that Indonesia's domestic automotive market has been improving or the international industry has been weakening (or both). The three tire manufacturers are Gajah Tunggal, Multistrada Arah Sarana, and Goodyear Indonesia.

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Asian shares rose on Tuesday morning (25/04), following the strong performance of Wall Street overnight, supported by easing concerns about the stability of the European Union (EU) after French presidential candidate Emmanuel Macron is seen as the clear favorite in the presidential runoff. Macron, a pro-EU centrist, will face Marine Le Pen, an anti-EU nationalist, in the runoff. Due to easing concerns safe haven assets came under pressure, while the euro retained gains. Australia and New Zealand are closed for a public holiday.

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