Indonesian Election Makes for Muted Market Reaction to Good Econ Data

        0409 GMT [Dow Jones] Indonesia's easing inflation in April and larger-than-expected trade surplus in March shows improvement in economic fundamentals is continuing, but market reaction is relatively muted, partly because various government officials had flagged the data in recent days, and investors remain cautious ahead of the July presidential election. "Unless something dramatic happens--with Jokowi winning more than 50% outright in the first-round, perhaps--market is likely to still have a relatively wait-and-see attitude," says OCBC's economist, Wellian Wiranto. The USD/IDR is still unchanged since this morning at 11,535, before the data were released, and the government 10-year rupiah's bond yield is steady at 7.95% although bonds are slightly better bid than in the previous session. Elsewhere, the JSX index gains slightly, up 0.23% at 4853.193 points. (i-made.sentana@wsj.com)
        (END) Dow Jones Newswires

        May 02, 2014 00:09 ET (04:09 GMT)