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.
More at Indonesian stocks jumps to near 14-month high as Jokowi set for re-election
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.
More at Indonesian stocks jumps to near 14-month high as Jokowi set for re-election
