Sandiaga Uno, one of the owners of Indonesia-focused Saratoga Capital, has been elected deputy governor of Jakarta.
Uno was running with former education minister Anies Baswedan and secured a comprehensive victory, according to quick count polls on Wednesday.
Publicly-listed Saratoga Investama Sedaya enjoyed almost 10 percent hike, before going back to its stagnant point at the end of the trading day. At its most active point, Saratoga traded in 3,023 transactions.
Meanwhile, stocks of companies owned by Hary Tanoedsoedibjo – one of Uno’s closest allies and backers – also rose on Thursday morning. MNC shares increased 1.16 percent to Rp 1,740. Another company controlled by Tanoe, Global Mediacom, recorded a 0.98 percent gain.
The winning pair of Anies-Sandiaga is backed by the Gerindra Party and Tanoe’s United Indonesia Party (Perindo).
The Jakarta Composite Index (JCI) itself dropped 0.1 percent to 5,600.83 points in the first trading session, after trading between 5,600.14 and 5,619.36.