Indonesia stocks gain following election day

Asian stock markets were mainly higher today, as China's exports showed a slight pickup. This is as Indonesian stocks rocketed, despite contested presidential election results.

South Korea's Kospi rose 0.2% to 2,003.63, despite the central bank lowering this year's growth outlook. Hong Kong's Hang Seng increased by 0.2% to 23,227.91 and China's Shanghai Composite increased 0.1% higher to 2,040.92. Australian, Singaporean and Thai stocks also gained ground.

In Indonesia, the benchmark stock index exceeded by 2% following the first count of the country's presidential election revealing a narrow victory for Joko Widodo. Despite Prabowo Subianto’s refusal to concede, investors seem to believe the result was distinguished.

According to China’s customs office, China's June exports rose to 7.2% in terms of dollar from last year, accelerating slightly from May's 7% growth. The growth was a slight sign of improvement for the world's second greatest economy.

China's customs office is optimistic, expecting exports increase to drive during this third quarter. It seems imports may also pick up as there were improving signs of manufacturing and services activity during the recent two months.

Earlier, minutes of the U.S. Federal Reserve's recent policy meeting revealed if the economy continues to improve, officials were considering to end the central bank's monthly bond buying in October. The massive bond purchases have fostered an economic recovery since 2008, motivating stock markets by returns on bonds.

However, the tone of the minutes did not deter investors from adding stocks. The minutes also suggested Federal officials almost came upon agreement over the central bank's first rate hike timing since the 2008 financial crisis.

Wall Street gained ground yesterday, as corporate earnings raised investor sentiment. The Dow Jones industrial average increased by 0.5% to 16,985.61. The S&P 500 added 0.5% to 1,972.83 and the Nasdaq composite increased 0.6% higher at 4,419.03.

In regards to currencies, the euro grew to $1.3646 from $1.3643. As the dollar slightly fell to 101.53 yen from 101.58 yen.