Indonesia Stocks Poised for 17% Annual Gain, Manulife Says

Indonesian stocks are poised for the steepest annual gain in three years as domestic consumption drives the fastest economic expansion in Asia after China, according to the country’s second-largest mutual fund manager.

The benchmark Jakarta Composite Index may advance as much as 17 percent this year, Alvin Pattisahusiwa, director of investment at PT Manulife Aset Manajemen Indonesia, said in an e-mail interview last week. The gauge already jumped 14 percent in the first quarter, the most since the three months to September 2010, closing at a record on March 28. Markets were shut on March 29 for a holiday.