Indonesia

Indonesia: Jokowi sworn in as president; stocks get boost Joko Widodo was sworn-in in parliament today as Indonesia’s seventh president. He is in the midst of forming a cabinet that would support his political reforms such as raising fuel prices and building infrastructure. Acknowledging that political challenges continue to lie ahead, investors remain supportive of Jokowi’s business friendly attitude. Accordingly, the rupiah is up 0.7% at 12,027 per USD, and the Jakarta Composite Index is trading 1.1% higher at 5,083. The following SGX-listed Indonesian stocks are also in focus: - Jardine C&C, $41.11, +0.8% - Sinarmas Land, $0.625, +3.3% - First Reit, $1.21, +1.3% - Lippo Malls Trust, $0.385, +1.3% - Gallant Venture, $0.24, +0%