Indonesian ETFs EIDO (EIDO +4%), IDX (IDX +4.8%), and IDXJ (IDXJ +4%) are flying after "quick-count" tallies show reform-minded Jakarta Governor Joko Widodo with a victory in the presidential election.
Closed for election day, Indonesian markets open next at 10:30 ET, and the Jakarta Index is already ahead nearly 20% YTD.
“The key economic challenge facing Jokowi will be re-igniting the economy, which has slowed markedly over the past couple of years,” says Gareth Leather, Asia Economist for Capital Economics. “There is no magic bullet to reviving growth. In the short-term, monetary and fiscal policy are likely to remain fairly tight."