The Straits Times
Published on Jul 10, 2014

Indonesian markets welcome projected Widodo win


JAKARTA (AFP) - Indonesian stocks rallied on Thursday after most unofficial tallies showed Jakarta governor Joko Widodo ahead of ex-general Prabowo Subianto in a closely fought race to lead Southeast Asia's biggest economy.

Both candidates declared victory Wednesday in the tightest and most divisive presidential election since the downfall of dictator Suharto in 1998.

However the polling agencies considered most reliable indicated a Widodo win, and the Jakarta benchmark index surged more than 2.5 per cent at the open.

Official results are not expected until July 22.