Indonesian stocks rally after economic data
JAKARTA, Oct 1 - Indonesian shares rose 1.4 percent in midday trading to 4,376.7, reflecting a relief rally after the Indonesian government released inflation and trade data showing a surplus for the first time in 5 months.
Indonesia's annual inflation rate was at 8.4 percent in September, the statistics bureau said on Tuesday. Indonesia recorded a surprise trade surplus for August of $130 million, from the previous month's deficit of $2.3 billion.
The Rupiah traded 0.52 percent higher after the announcement, at 11,510 to the dollar, compared to the previous day's close of 11,570.
Jakarta's Composite Index opened 0.03 percent lower at 4,314.96, but rose 0.7 percent after the data was announced.
Banking stocks rose more than 2 percent, led by state-controlled lenders Bank Mandiri and Bank Rakyat Indonesia that both jumped more than 3.5 percent. The blue chip index was up 2.2 percent. (Reporting by Andjarsari Paramaditha,; Editing by Supriya Kurane)