Indonesian Stocks Climb First Time in Five Days as Pension Buys
This article is for subscribers only.
Indonesian stocks rose for the first time in five days after valuations sank to a 14-month low and the nation’s biggest pension fund said it’s buying. The rupiah slid to the weakest level in four years and bonds fell.
The Jakarta Composite Index added 1 percent to close at 4,218.45. The gauge traded yesterday at 12.26 times projected 12-month profit, the lowest level since June 2012, data compiled by Bloomberg show. The rupiah dropped beyond 10,800 per dollar today for the first time since April 2009, prices from local banks show. The yield on 10-year government bonds rose to the highest level since March 2011.