Indonesian Stocks Rise on Speculation Prabowo Subianto Loses Court Case
Indonesia’s benchmark stock index (known as the Jakarta Composite Index or IHSG) climbed 0.31 percent to 5,206.14 points on Thursday's trading (21/08) on speculation that Indonesia’s Constitutional Court will reject defeated presidential candidate Prabowo Subianto’s claim that the official July 2014 presidential result is illegal due to massive violations. Although the Court is still reading out the verdict, it has already indicated that evidence for violations is incomplete and unconvincing. Therefore, a Court decision that calls for revoting has become unlikely.
The Constitutional Court’s decision is final and legally binding.
The Indonesian rupiah exchange rate appreciated 0.11 percent to IDR 11,693 per US dollar according to the Bloomberg Dollar Index.
However, Bank Indonesia's benchmark rupiah rate (Jakarta Interbank Spot Dollar Rate, abbreviated JISDOR) depreciated 0.99 percent to IDR 11,717 per US dollar on Thursday (21/08).
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