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Indonesia Bear Market Sends Buy Signal to Nation’s Largest Fund

Indonesia’s biggest fund manager is taking the slump that’s driven the nation’s stocks into a bear market as the cue to start buying again.

BPJS Ketenagakerjaan, which manages about 193 trillion rupiah ($13.8 billion), will enter the equities market along with other state-owned institutional investors, Elvyn Masassya, its president director, said in a text message on Sunday. Shares are “relatively cheap,” he said, without naming any.