Jakarta Leads Asia With Stocks Surging Nearly 20 Percent: Chart

A five-month rally for Indonesian stocks has sent the benchmark index surging nearly 20 percent from last year’s low. JPMorgan Asset Management and UBS AG have turned more positive on Southeast Asia’s largest economy, expecting government stimulus and infrastructure spending to boost growth. The Jakarta Composite Index jumped 18 percent since late September, when disappointment over President Joko Widodo’s reform progress and concerns ahead of a Federal Reserve rate increase triggered a 25 percent slide.

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