Indonesian assets made a remarkable performance on Monday (01/08). Indonesia's benchmark Jakarta Composite Index surged 2.79 percent to 5,361.58 points, while the rupiah appreciated 0.50 percent to IDR 13,047 per US dollar. Indonesian stocks - by far - outperformed their counterparts in other Asian Pacific nations. Overall, the majority of Asian stocks rose today on the back of waning expectations of another US interest rate hike in the near future.

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Statistics Indonesia (BPS) announced on Monday (01/08) that Indonesia's inflation rate reached 0.69 percent (m/m) in July 2016, considerably below analysts' forecasts. In fact, the 0.69 percent (m/m) pace is Indonesia's lowest July inflation rate since 2012. On a year-on-year basis, Indonesian inflation eased to a seasonally adjusted 3.21 percent (y/y), from 3.45 percent (y/y) in the preceding month. Meanwhile, Indonesia's manufacturing activity plunged unexpectedly in July.

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Religious violence and intolerance flared up in Indonesia's North Sumatra over the weekend when an angry Muslim mob burned down (or damaged) 12 Buddhist temples in Tanjung Balai. According to local authorities the mob was mobilized after an Indonesian woman of Chinese descent complained about the loud volume of the calls to prayer and Koranic recitals at the mosque that is situated in front of her house. One day later, seven people were detained by Indonesian police on suspicion of attacking the temples.

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On 31 July 2016, Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website over the last seven days. Most of the topics involve economic matters such as Indonesia's tax amnesty program, inflation, foreign investment, but also political topics such as the recent executions and the cabinet reshuffle.

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