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Jakarta Post

Market rebounds on Jokowi’s reelection

  • Riska Rahman

    The Jakarta Post

Jakarta   /   Wed, May 22 2019   /  02:38 am

Indonesian shares rebounded on Tuesday as investors gained confidence after incumbent President Joko “Jokowi” Widodo and his running mate Ma’ruf Amin were declared the winners of the bitterly contested election last month by a double-digit margin.After its biggest weekly slump last week, the Jakarta Composite Index (JCI), the main share price indicator of the Indonesian Stock Exchange, gained almost 1 percent in the morning session after the announcement of the election results. However, the price index gained only 0.75 percent in afternoon trading to end the day at 5,951.Royal Investium Sekuritas equity analyst Janson Nasrial said the announcement had given a boost to the stock market as investors believed that the reelection of Jokowi would create more certainty in the government’s efforts to revive the economy.The General Elections Commission (KPU) announced the official resul...