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Global  carmaker  Ford  Motor  Company  has  acquired  an  8.5  percent  stake  in  the  Indonesian  nickel  mining  firm, Kolaka Nickel Indonesia, for Rp 88.7 billion ($5.8 million) in a move to bolster its electric vehicle (EV) battery production. Ford  is  aiming  to  hold  direct  control  of  raw  material  sources  for  EV  battery  production.  Kolaka  Nickel  is  a  joint venture between Vale Indonesia (INCO) and Singapore-based Huaqi. Following Ford's investment, Vale Indonesia and Huaqi now hold stakes of 18.3 percent and 73.2 percent, respectively. The construction of the plant, which also involved investment from China-based Zhejiang Huayou Cobalt Co., commenced earlier this year and is slated for full operation by 2026.   Source : https://jakartaglobe.id/business/ford-invests-in-indonesian-nickel-miner-to-advance-ev-battery-production

The Nusantara Capital City Authority (IKN Authority) received a total commitment of investment interest worth Rp41.4 trillion during the three groundbreaking stages. Head of the IKN Authority Bambang Susantono said this is a clear indication of investors' confidence and optimism in the prospect of the project. The IKN Authority has also pocketed 330 Letters of Intent (LoI), with 55 percent of them coming from domestic investors looking to develop the national axis sector. To date, Singapore, Japan, China, and Malaysia have submitted the highest number of LoIs.   Source : https://en.tempo.co/read/1812001/huge-investment-interest-in-ikn-up-to-rp41-4tn-in-2023-proves-optimism-authority

The month-over-month rise in volumes in September 2023 across the majority of regions – but especially North America, Greater China and Asia, (excl. China) – resulted in a 1.9% increase in the Global Container Port Throughput Index to 112.0 points. However, a steep reduction in port calls in October underpins the 8.4% MoM / 3.4% YoY reduction in October 2023, as indicated by Drewry’s Nowcasting Model. The Asia (excluding China) Container Port Throughput Index hit new highs in September 2023, up 2.6% to 109.5 points, 7.4% ahead of last year. The  North  American  Container  Port  Throughput  Index  jumped  7.4%  MoM,  reaching  109.1  points  in  September 2023, but remained 1.5% lower than in September 2022.

Credit rating agency Moody’s cut its outlook for Chinese sovereign bonds to negative, citing risks from a slowing economy and a crisis in its property sector. Moody’s said the downgrade, its first for China since 2017, reflects risks from financing troubles of local and regional governments and state-owned enterprises. The world’s second-biggest economy had been slowing before a 2020 crackdown on excessive borrowing brought on defaults by dozens of property developers. Those troubles have crimped local government finances and also imperiled some lenders, further dragging on the economy.   Source : https://apnews.com/article/moodys-china-rating-cut-negative-4d9105eb5c711a4bc7fc1f7db1f66c35

PT Neta Auto Indonesia has inaugurated its first dealer in Kelapa Gading, North Jakarta. The Chinese auto manufacturer will continue to add new dealers until the end of the year. Currently there is only one type of Neta’s electric vehicle sold in Indonesia. Delivery of the units will start this month.

Bank Indonesia (BI) said the net inflow of foreign capital into Indonesia reached Rp. 4.10 trillion during the period of December 4th to December 7th 2023. Indonesia’s 5-year investment risk premium or credit default swaps (CDS) premium as of December 7th was 74.46 basis points (bps), an increase compared to December 1st, which was recorded at 72.93 bps. BI continues to strengthen coordination with the government and related authorities and optimize policy mix strategies to maintain macroeconomic and financial system stability to support further economic recovery.   Source : https://www.antaranews.com/berita/3862848/bi-aliran-modal-asing-masuk-ke-indonesia-capai-rp410-triliun

President Xi Jinping said that stable ties between China and Australia served each other's interests and both should expand their cooperation, sending a clear signal that Beijing was ready to move on from recent tensions. China and Australia should promote the development of their strategic partnership as they build up mutual understanding  and  trust,  Xi  told  Australian  Prime  Minister  Anthony  Albanese,  the  first  Australian  leader  to  visit  Beijing since 2016, at the Great Hall of the People in the heart of the Chinese capital. A strong relationship "will be beneficial into the future," Albanese told Xi in their second face-to-face talks in a year, a meeting that lasted more than an hour.   Source : https://www.reuters.com/world/asia-pacific/australias-albanese-retraces-historic-beijing-walk-visit-mend-ties-2023-11-06/

China reported a worse-than-expected drop in exports in October, while imports surprisingly rose for the month from a year ago. China’s customs agency said exports in U.S. dollar terms fell by 6.4% in October from a year ago. That’s worse than the 3.3% drop predicted by a Reuters poll. Imports rose by 3% in U.S. dollar terms in October from a year ago. That’s in contrast to the Reuters’ forecast for a 4.8% drop from a year ago. However, China’s imports from the U.S. were down by 3.7% in October versus the year ago period, CNBC calculations of customs data showed.