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Jakarta Post

Biden's election likely to help JCI: Analysts

  • Riska Rahman

    Jakarta

Jakarta   /   Mon, November 9 2020   /  01:00 am
IDX logo in front of a giant screen that displays information of the movement of stock prices at Indonesia Stock Exchange (IDX), Jakarta, on Friday, March 13, 2020. IHSG is closed with 11,823 points (0.24 percent) to 4,907.571 rise after experiencing trading halt twice.(JP/Seto Wardhana)

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