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Shares, rupiah stable after court ruling affirms Jokowi's victory

Jakarta Post - June 28, 2019

Riska Rahman, Jakarta – The stock market and the rupiah showed no significant reaction on Friday morning to the Constitutional Court's ruling approving the reelection of President Joko "Jokowi" Widodo.

On Thursday night, the court rejected Prabowo Subianto's legal challenge that accused the General Elections Commission and Jokowi as the incumbent of cheating during the recent presidential election.

The Jakarta Composite Index (JCI) ended the first trading session on Friday at 6,352.19 points, down a negligible 0.01 percent from the previous day's close, after it had been moving in the green soon after trading began at 9 a.m.

Media firm PT Mahaka Media (ABBA), owned by Jokowi's campaign team chairman Erick Thohir, pulled back 2.56 percent on Friday morning, after it had been the top gainer on Thursday.

In the meantime, investment firm PT Saratoga Investama Sedaya (SRTG), owned by Sandiaga Uno, rose 0.28 percent to Rp 3,520 per share in the first session, recovering from a 3.31 percent fall the preceding day.

Meanwhile, the rupiah changed hands at Rp 14,131 per US dollar at 12:32 p.m. on Friday, barely changed from its exchange value on Thursday evening, according to Bloomberg. (bbn)

Source: https://www.thejakartapost.com/news/2019/06/28/shares-rupiah-unfazed-by-constitutional-court-ruling.html