Indonesia Positive Data Alleviates Concern on Rupiah

0442 GMT [Dow Jones] Indonesia's benign inflation data for April and trade surplus for March are reassuring signs that the policies undertaken so far are working. "The current account deficit for 1Q may have narrowed further to about 1.8% of gross domestic product [from 2% in 4Q last year], alleviating concerns about the rupiah," says Bank of America Merrill Lynch's economist Hak Bin Chua. Indeed, the USD/IDR was stable at 11,535 since the morning, but slightly lower than 11,555 at last close Wednesday. Chua adds the stable economic backdrop will probably mean that markets will be more focused on the country's politics and election outcomes. (i-made.sentana@wsj.com)
        (END) Dow Jones Newswires

        May 02, 2014 00:42 ET (04:42 GMT)