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.

STR Global Hotel Reports - Asia Pacific

STR Global have reported hotels within the Asia Pacific region experienced positive results during May this year. The region's occupancy during the month grew by 3.2% to 67.6%; its daily average rate ended the month virtually flat with a 0.1% increase to US$115.10; with its revenue per available room increased by 3.3% to US$77.80.

The Philippines excelled by occupancy growth, increasing from 13.7% to 70.6%, owing to an increased demand of 17.6%. Indonesia also experienced positive growth rate during May, increasing by 10.7%. This is one of the highest increases of the Asia Pacific, principally motivated by Jakarta, increasing rates by 12.1%.

Highlights from significant market performers during May in local currency (year-over-year comparisons):