Jokowi Premium Returns to Indonesia as Stocks Lead Gains in Asia

President gaining credibility with investors: Samsung Asset
Jakarta Composite Index advances 9 percent in past month

Joko Widodo.
Photographer: Achmad Ibrahim/AP Photo

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By Jonathan Burgos and Harry Suhartono

August 4, 2016 at 5:01 PM UTC

Updated on

August 5, 2016 at 9:03 AM UTC

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The on-again, off-again relationship between Indonesian President Joko Widodo and international investors is definitely back on.

The Jakarta Composite Index rose 9 percent in the past month, the most in Asia, after the passage of a tax amnesty bill that was seen as a test of the president’s authority and as he appointed the reformer Sri Mulyani Indrawati as finance minister. Indonesian stocks have been climbing since last October and got a boost as Britain’s vote to leave the European Union spurred speculation of more developed-nation stimulus.