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Jakarta Post

Indonesia's stock market expected to rise after Biden victory

  • Riska Rahman

    The Jakarta Post

PREMIUM
Jakarta   /   Fri, November 6, 2020   /  02:44 pm
The Jakarta Post Image
The IDX logo is seen in front of a giant screen that displays information of the movement of stock prices at the Indonesia Stock Exchange (IDX), Jakarta, on March 13, 2020.(JP/Seto Wardhana)

The result of the United States presidential election is expected to have a lasting, positive effect on Indonesia’s stock market in the mid- to long-term, helping to offset negative sentiment among investors as a result of the recession, analysts have said. Mirae Asset Sekuritas research head Hariyanto Wijaya told The Jakarta Post that he believed a win for then-Democratic presidential candidate Joe Biden would result in positive movement in the Jakarta Composite Index (JCI), the main gauge of the Indonesia Stock Exchange (IDX). Joe Biden was declared US president-elect on Saturday, defeating Donald Trump. “Biden’s approach to China is expected to be more predictable than [President Donald] Trump’s, which was more impulsive, and who often changed his statements,” he said in an e-mail on Thursday. The analyst also expected the US do...