Mahkatop
Mahkatop — Joe Biden has announced his withdrawal from the U.S. presidential race, affecting financial markets in Asia. Indonesian economist Gunawan Benyamin stated that this decision has a positive impact on financial markets in China but a negative one in Taiwan.
With Biden’s departure, Donald Trump is expected to gain political advantage, particularly because Trump recently asked Taiwan to bear defense costs against the U.S. This request has added negative sentiment to Taiwan’s financial markets.
On Monday’s trading, gold prices remained stable around 2,402 USD per troy ounce, or approximately 1.26 million IDR per gram. Currently, gold prices and market movements are more influenced by political factors rather than economic ones.
Meanwhile, the Yuan has strengthened against the USD, while several other Asian currencies, including the Rupiah, have weakened. The Rupiah was recorded weakening to 16,215 per USD in today’s trading. (*)
