The Economist (US), August 26th, 1989
Jakarta frenzy
INDONESIA has one of the tiniest and newest stockmarkets in Asia. To fund managers briefed to invest in the region, it is also one of the most exciting. Why so speedy an achievement?
Because in December 1987 President Suharto's government brought in sweeping financial changes, barely noticed by foreigners, to Jakarta's sleepy bourse. These removed the limit on share-price movements of 4% a day, partially opened the market to foreign investors and streamlined the bourse's listing procedures. There had not been a new issue since 1984.
A year after the reforms, the market expl...
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