INDONESIA D AILY ECONOMIC UPDAT E Tuesday, 22 January 2019 ECONOMIC HIGHLIGHTS  The Indonesia Stock Exchange (IDX) issued a regulation requiring all publicly listed companies to remove the position of independent director from their board of directors, in an effort to reduce the cost of an initial public offering (IPO).  State-owned mortgage financing company PT Sarana Multigriya Finansial (SMF) has allocated IDR 1.7 trillion for government-subsidized housing loans. DAILY INDONESIAN FINANCIAL INDICATORS Change Change or total Date of since Unit Latest latest last In last In last Year-to- value value trading week* month* date day Stock market Jakarta Composite Index 6,469 22 Jan 0.3% 0.9% 4.9% 4.4% Net purchases by 0.09 22 Jan IDR, tn -- 6.4 9.4 10.2 foreign investors Exchange rate: IDR/USD Bank Indonesia 14,221 22 Jan 0.1% 1.0% -1.8% -1.8% Bloomberg 14,220 22 Jan 0.0% 0.9% -2.3% -1.2% Government bonds Yield: 1 year IDR bond 6.9% 22 Jan bps 4.1 -4 1 7 Yield: 5-year IDR bond 8.0% 22 Jan bps 2.2 -1 4 1 Yield: 10-year IDR bond 8.3% 22 Jan bps 1.8 8 17 20 Foreign holdings of IDR bonds 904 18 Jan IDR, tn -- 2 11 11 Indonesia USD bonds strip spread 202 18 Jan bps -4.8 -8 -26 -35 Asia USD bonds strip spread 192 18 Jan bps -3.6 -9 -21 -26 Indonesia sovereign CDS: 5yr, mid- 125 18 Jan bps -2.0 -2 -7 -13 price Corporate bonds Indonesia USD bonds strip spread 360 18 Jan bps -6 -24 -31 -52 Interest rates IndONIA 5.9% 21 Jan bps 0 3.6 0.7 0.5 IndONIA spread relative -9.2 21 Jan bps 0 3.6 0.7 0.5 to policy rate International reserves 120.7 31 Dec USD, bn -- -- 3.4 -9.5 * One week and month prior to latest observation SOURCES Data are taken from the following: the latest Jakarta Stock Exchange and Indonesian government IDR bond yield data are taken from the Indonesian Stock Exchange (www.idx.co.id). BI IndONIA and IDR mid exchange rates from Bank Indonesia (www.bi.go.id), after 5 pm each day. BI reports international reserves data directly. 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). The CDS premium on 5-year Indonesian government USD bonds and Indonesian corporate bond spreads are sourced from JPMorgan.