Indonesian Stocks Near Golden Cross as Foreigners Pile in: Chart

A 16-percent-rally from a September low is pushing Indonesia’s Jakarta Composite Index closer to its first golden cross, seen as a bullish sign when the 50-day moving average climbs above the 200-day line, in almost two years. Foreign investors have poured $118 million into Indonesian shares this year, betting growth in Southeast Asia’s largest economy will accelerate and falling inflation will give the central bank more room to lower interest rates. The last time a golden cross pattern occurred, on March 17, 2014, the Jakarta Composite went on to post its biggest annual gain in four years.

Before it's here, it's on the Bloomberg Terminal.