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Jakarta Post

Whoever wins, market will rally after elections: Analysts

  • Riska Rahman

    The Jakarta Post

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Jakarta   /   Tue, April 16, 2019   /  07:14 am
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A screen displays stock prices at Indonesia Stock Exchange (IDX) in Jakarta.(Shutterstock/File)

Regardless of who wins this week’s presidential election, the country’s capital market will rally, analysts predict, as such a political event has proven in the past to give the market a boost. Indonesian voters are called to cast their ballots for the president and legislators on Wednesday in the first-ever simultaneous elections. Indonesia Stock Exchange (IDX) senior researcher Poltak Hotradero said the elections could see the country’s capital market, particularly the Jakarta Composite Index (JCI), rally. The JCI grew by 44.56 percent in the year of 2004, when Indonesia held its first direct elections, and even jumped by 86.98 percent in 2009. In 2014, the index still managed to record an impressive 22.29 percent increase. “These figures are proof that an election [causes] positive sentiment for the JCI, so I think this year’s [election] will ...