Indonesian President Susilo Bambang Yudhoyono’s election victory helped Asia’s best-performing bond, currency and stock markets extend this year’s rally on expectations it will pave the way for more pro-growth policies.
Yudhoyono won 61 percent of votes in yesterday’s election, according to a sampling of ballots by the Indonesia Survey Institute, enough to hand him a second five-year term. He promised voters to eradicate corruption and boost spending to help achieve 7 percent annual economic growth. The rupiah gained the most in two weeks while the Jakarta Composite Index rose as much as 1.6 percent, and was little changed at the close. bloomberg.com
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