Jakarta Composite Jumps 20% From June Low as Fiscal Fears Ease
Updated
Updated · Bloomberg · Jul 23
Jakarta Composite Jumps 20% From June Low as Fiscal Fears Ease
3 articles · Updated · Bloomberg · Jul 23
Summary
Indonesia’s benchmark stock index rose as much as 1.5% on Thursday, lifting its rebound from an early June low to 20% and putting it on track to enter a bull market.
The rally has been driven by investors rotating into laggard shares while concerns over Indonesia’s fiscal health have eased.
PT Amman Mineral Internasional and PT Barito Renewables Energy were the biggest contributors to the Jakarta Composite Index’s latest advance.
The move marks a sharp turnaround for one of the market’s recent underperformers, with sentiment now improving as fiscal worries recede.