Indonesian Stocks to Rise on Rupiah, Mandiri Says

(Bloomberg) -- Indonesia’s benchmark stock index may rise a further 9.3 percent this year as gains in the rupiah helped reduce the cost of overseas debt and made local assets more attractive, according to PT Mandiri Manajemen Investasi. The Jakarta Composite index may reach 2,750 by the end of the year from yesterday’s close of 2,515.38, said Kenny Soejatman, director of equity investment at Mandiri Manajemen, which manages about $1.37 billion in Jakarta. The stock measure has climbed 86 percent this year, Asia’s third-best performer.

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