Rupiah Jumps To Seven-week High As Etf Soars After Vote – Yahoo Finance

“The market may have got a bit ahead of itself.” The Jakarta index is valued at 14.7 times estimated earnings for the next 12 months, versus the five-year average of 13.7 and a multiple of 11 for the MSCI Emerging Markets Index, according to data compiled by Bloomberg. Expectations that Jokowi would cut red tape and corruption helped send the benchmark index of shares into a bull market in March when he joined the race. Pledges by Prabowo, a former general and once son-in-law of the dictator Suharto, to borrow heavily and renegotiate contracts with foreign companies alarmed some investors. Political Promises Both candidates campaigned on populist platforms to spur growth, reduce poverty, build infrastructure and help farmers. They promised to keep the export ban in place and neither mentioned fuel subsidies in the final leaders’ debate.

Stocks Rebound From 2 Day Drop As The Fed Confirms The End Of QE Is Near – Yahoo Finance

in Hong Kong , set for the highest close since March 2013. Foreign investors have plowed $414 million into Indonesian and Thai shares this month on bets Widodo will boost investment in Southeast Asias biggest economy and that Thailands economy will rebound. Central banks in Indonesia and Malaysia will announce interest-rate decisions today. We are seeing the continuation of a bullish trend as emerging markets remain structurally sound, said Jeff Mendez, a money manager in Manila at Rizal Commercial Banking Corp., which has $1.8 billion in assets under management. Investors confidence in Indonesia will be stronger now while investors are returning to Thailand. Stock Valuations The emerging-markets gauge has risen 6.2 percent this year and trades at 11 times projected 12-month earnings, data compiled by Bloomberg show.

Emerging Stocks Advance as Indonesia Shares Rally on Election – Bloomberg

The Nasdaq fell 60 points, or 1.4 percent, to 4,391. Technology and small-company stocks fell more than the rest of the market. Utilities were the only sector to rise as investors sought out low-risk stocks that pay high dividends. AbbVie fell 3 percent after the company raised its offer to buy a rival drugmaker, Shire.

Stocks Fall For A Second Day; Nasdaq Slumps : NPR

MBA Mortgage Purchase Index rose four percent after declining 0.7 percent last week. MBA Mortgage Refinance Index rose four percent after rising 0.1 percent last week. EIA Crude Inventories declined 2.4 million, more than the decline of 2.2 million barrels expected. EIA Gasoline Inventories rose 0.6 million barrels, more than the decline of 0.2 million barrels expected.


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