JAKARTA (Yosefardi) – Investors aggressively bought local stocks following announcement of Joko “Jokowi” Widodo as presidential candidate for the July’s presidential race.
The Indonesian Democratic Party of Struggle (PDI-P) announced the nomination of Jokowi at 14.58 pm Jakarta time, delivered by PDI-P Chairwoman and patron leader Megawati Soekarnoputri.
The composite index of the Indonesia Stock Exchange (IDX) moved in red zone in morning trade but cut loss at early afternoon trade.
The index then turned to positive territory and regained 1.63% at 3.30 pm Jakarta time as news of Jokowi nomination came into market.
The rupiah also strengthened to Rp11,361 against the US Dollar after traded at Rp11,435 at early morning trade.