Indonesia election: quick counts point to incumbent victory - ANZ

Sandeep Kanihama FXStreet Contributor

ANZ analysts point out that the Indonesia held its first ever simultaneous presidential and legislative elections yesterday, and unofficial quick count results suggest the incumbent president, Joko Widodo (Jokowi) is on track for a second term.

Key Quotes

“His lead over the challenger, Prabowo Subianto, also appears to have widened relative to their 2014 contest. Local markets – which were closed yesterday – are likely to react positively when they reopen today.”

“A Jokowi win, if confirmed, would represent policy continuity though external headwinds such as weak commodity prices suggest growth in the near term is still likely to remain stuck around the 5% mark. The official results will be announced by 22 May.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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