JAKARTA: Indonesian stocks jumped to a near 14-month high on Thursday after early elections results indicated incumbent President Joko Widodo is likely to be re-elected for a second term, while Malaysia extended losses to a more than three-year low.
The quick counts showed Widodo winning the popular vote in the world's third largest democracy with about 54 percent, giving him a lead of around eight percentage points over former general Prabowo Subianto.
"A second Jokowi (Widodo) term is welcome by markets on policy continuity and modest reforms for Indonesia ahead," Mizuho Bank said in a note to clients.
Government insiders said he was poised for a splurge of reform, with sagging foreign investment, the troubled education system and restrictive labour rules on the list of areas he might tackle.
Morgan Stanley said in a note on Wednesday that it was time to brush aside tail risk concerns and buy Indonesian equities, citing "falling policy rates, the return of private sector confidence, and optionality around reform."
The key Jakarta stock index advanced as much as 2.4 percent to its highest since February 2018, before paring gains.
Onshore markets were closed on Wednesday for the elections.
Lenders Bank Central Asia Tbk PT and Bank Mandiri (Persero) Tbk PT climbed up to 5.6 percent and 6.6 percent, respectively. More at https://www.thestar.com.my/business/business-news/2019/04/18/indonesian-stocks-jumps-to-near-14-month-high-as-jokowi-set-for-reelection/#pCVMYpxWmPFlIDYG.99
Civil war imminent.........? Hmm
Aiseh learn from Pinky - ownself declare ownself is winner? LOL
Indonesia election: Prabowo claims victory despite early counts showing loss
Ex-army general Prabowo Subianto has controversially claimed victory in Indonesia’s presidential election, despite unofficial results from more than half a dozen credible pollsters indicating that incumbent Joko Widodo has comfortably won.
Speaking to supporters and journalists gathered outside his residence in South Jakarta on Wednesday evening, hours after the polls had closed, the fiery former special forces commander delivered a triumphant speech.
Prabowo, the former son-in-law of Indonesia’s longtime autocratic ruler Suharto, claimed that based on a real count conducted by his team, early indications showed him in the lead with 62%.
Earlier on Wednesday his team said an internal exit poll showed Prabowo had defeated the incumbent president, known as Jokowi, garnering 55.4% of the vote.
The proclamations run counter to more than half a dozen quick counts conducted by credible Indonesian survey institutes, which show Jokowi and his running mate, Islamic cleric Ma’ruf Amin took the lead by at least 9 percentage points.
Litbang Kompas, for example, found that Jokowi-Amin defeated Prabowo and Sandiaga Uno by 54.52% to 45.48, with a sample size of more than 95%.
Quick counts are based on samples of real votes and have proved reliable indicators of past results. The official tally from Indonesia’ election commission is not expected to be released until May.
More at https://www.theguardian.com/world/2019/apr/18/indonesia-election-prabowo-claims-victory-despite-early-counts-showing-loss
These are merely early results being released, the definitive final verdict is still some time away. Don't pop the champagne too soon........
Who is Jokowi?
BORING.