(Bloomberg) — Indonesian stocks rose for a tenth straight day, the longest run of gains since 1995, as the nation’s currency and bonds racked up gains on bets President Joko Widodo will pursue tougher economic reforms in the second term.
The benchmark Jakarta Composite Index of stocks advanced as much as 0.6% to 6,294.657, the highest level since Sept. 13. The index is up 4.5% in the 10 days through Thursday. The nation’s currency climbed for a sixth straight day to its strongest level against the U.S. dollar since Sept. 16.
Jokowi, as Widodo is known, has pledged to boost investment and improve the ease of doing business after being sworn in for a second five-year term on Sunday. The president has reappointed veteran finance minister Sri Mulyani Indrawati to the post and brought in business tycoons and technocrats to handle key economic ministries.
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