The Jakarta Post
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsBiden's election likely to help JCI: Analysts
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.
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Set as preferred source
T
he 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 prices move in an upward trend. This would work in favor of Indonesia as a country that exports commodities, he said.
“I expect the JCI to continue on its upward trajectory at least until the end of 2020 due to investors’ forward-looking stance,” said Hariyanto.
The economic uncertainties caused by the COVID-19 pandemic have led investors to dump risky assets and resort to safe havens. Stock markets in emerging economies, such as Indonesia, have seen hefty capital outflows since March.
