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Indonesia markets cheer Prabowo’s likely presidential election win

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Elisa Valenta

Elisa Valenta

Published Thu, Feb 15, 2024 · 04:30 PM
    • The Jakarta Composite index last traded 1.7 per cent higher after earlier hitting an over-one-month peak, and was inching towards the record high of 7,403.578 points hit in January.
    • The Jakarta Composite index last traded 1.7 per cent higher after earlier hitting an over-one-month peak, and was inching towards the record high of 7,403.578 points hit in January. PHOTO: REUTERS

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    [JAKARTA] Investors in Indonesia had much reason for cheer as stocks saw their sharpest increase in two months on Thursday (Feb 15), a day after Defence Minister Prabowo Subianto emerged well on course for a decisive victory in the presidential election.

    The Jakarta Composite Index finished 1.3 per cent higher, the most since Dec 14, and was nearing the record high of 7,403.578 points achieved in January. The markets were closed on Wednesday for the election.

    The 72-year-old Prabowo declared victory on Wednesday night, just hours after a sample count of the votes by independent pollsters put him well ahead of his two rivals, who have yet to throw in the towel.

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