The composite index of the Indonesian Stock Exchange (BEI) extended gain after the announcement of the new Indonesian fFnance Minister.
The BEI index closed 1.5 percent higher at 5,222.99 points on Monday after the announcement naming Chatib Basri as the new finance minister replacing Agus Martowardoyo, who is now governor of Bank Indonesia.
Telekomunikasi Indonesia, the nation’s biggest phone operator, rose to a five-year high in Jakarta stock trading as Credit Suisse Group AG said it expects the company to post “double-digit” profit growth in 2013.
Telkom Indonesia, as the company is known, gained 2.93 percent and closed at 12,300, its highest level since October 18, 2007.
Chatib Basri said President Susilo Bambang Yudhoyono has asked him to manage the fiscal policy.
"I was asked to meet the President and there were several things that the President had conveyed to me with regard to my assignment," he said following a fit and proper test at the presidential palace ahead of his being named as the new finance minister here on Monday.
Bank Indonesia set its first fixing for the rupiah 0.2 percent stronger than an equivalent rate in Singapore, where the central bank has started a probe to ascertain whether onshore rates were manipulated.
Indonesia’s monetary authority used foreign-currency transactions between local lenders as a reference for its Jakarta Interbank Spot Dollar Rate, which it fixed at 9,760 per dollar on Monday...
Features various of video documentation on Indonesia, on Embassy event, and video Gado-Gado which currently aired on MhZ Television, also the documentation on various activities by the Indonesian Communities.