"The response to macro variables, usually exchange rates and the stock price index, is usually the benchmark. That is not a permanent response. It could very well be temporary," said Enny in Jakarta, Friday.
The Composite Stock Price Index (CSPI) of the Indonesia Stock Exchange (IDX) on Friday opened with an increase by 25.25 points or 0.42 percent to 6,090.50, while the 45 leading stocks, or the LQ45 index, moved up 5.20 points or 0.54 percent to 965.35.
After the names of the presidential candidates and their running mates were announced, sentiments related to politics in the domestic financial market were considered to be likely to decrease, leading to the CSPI going up.
Meanwhile, the rupiah exchange rate circulating between banks in Jakarta on Friday morning moved up by six points to Rp14,426, compared with the previous Rp14,432 per US dollar.
The news about the announcement of the presidential and vice presidential candidates had contributed to reducing speculation over the domestic financial market.
She believed that the market expected to see three main points. Firstly, for elections in Indonesia to take place smoothly and safely, and secondly, to ensure there was no turmoil or political stability.
"The last one is consistency of policies. If these main aspects are not at risk in accordance with the market doers` calculations, then there will not be any negative response from them," she added.
"In addition, our economic fundamentals are capable of withstanding the fluctuation and the weakening of the rupiah and other issues. So, the market response is not a single variable," said Enny.
Previously, President Joko Widodo had announced his candidacy for the 2019 presidential election on Thursday (9/8). Jokowi will be accompanied by Ma`ruf Amin as his running mate.
Jokowi himself is supported by nine political parties which are members of the Indonesian Work Coalition namely PDI Perjuangan, Nasdem, Golkar, Hanura, PPP, PKB, PKPI, Perindo, and PSI.
Meanwhile, Prabowo Subianto on Thursday night also declared himself a presidential candidate in the upcoming 2019 presidential election, accompanied by Sandiaga Uno as the vice presidential candidate. Prabowo-Sandi is supported by Gerindra, PKS, PAN, and Demokrat.
Reported by Citro Atmoko
Edited by Aria Cindyara, Andi Abdussalam
Reporter: antara
Editor: Heru Purwanto
Copyright © ANTARA 2018
