Investors would likely keep buying local stocks today after the Jakarta election runoff went smoothly on Wednesday (Apr 19). Investors would likely see this as a positive development, in that 1) Indonesia is capable to maintain a record of holding free and fair democratic elections. On Tuesday, foreign investors booked a net buy of Rp768.9 billion in local stocks, bringing year-to-date net buy to Rp16.55 trillion. The composite index of the Indonesia Stock Exchange (IDX) gained 0.52% to close at 5,606 on Tuesday. While the rupiah weakened to Rp13,299 against the U.S. dollar.
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