Indonesian President Joko Widodo was poised to win another term running the world’s largest Muslim-majority country, even as opponent Prabowo Subianto signaled he would challenge the outcome.

Seven top private polling agencies had Widodo, known as Jokowi, ahead of the former general by at least seven percentage points with about 95 percent of the vote counted. While election authorities must confirm any final outcome over the next few weeks, results from private companies have proven accurate in past elections.

“Let’s be united again as brothers and countrymen after the election, weaving unity and brotherhood,” Jokowi told a crowd of cheering supporters who were chanting his name. He didn’t declare victory, saying he would wait for official results.

Another five years in power for Jokowi would be welcome news for investors betting on the 57-year-old leader to pass measures that could unlock growth in Southeast Asia’s biggest economy.

The market responded positively to the early count, with one-month non-deliverable forwards for dollar-rupiah falling as much as 0.9 percent -- the biggest decline in a month -- to 14,042 as of 7.22 p.m. in Jakarta. The local stocks, currency and bond markets were closed for voting.

A second term for Jokowi indicates a renewed focus on the reforms that marked his first term, including development of infrastructure and human capital, said Anushka Shah, vice president and senior analyst at Moody’s Investors Service.

After losing to Jokowi in the 2014 presidential election, Prabowo challenged the results in a lawsuit that was eventually dismissed by the constitutional court. Late on Wednesday, Prabowo said his team’s quick counts showed he won 62.2 percent of the vote nationwide.

Source: Bloomberg

BDST: 2205 HRS, APR 17, 2019
SI