ABM Investama may have gotten an unexpected boost for its initial public offering yesterday when the Indonesian central bank cut interest rates by half a percentage point. Some economists had predicted that the bank would ease policy for the second month in a row, but none expected the cut to be more than 25 basis points.
The decision will help boost domestic demand at a time when the debt problems in Europe have spread to Italy and are causing renewed uncertainty about global growth. Stocks across Asia tumbled yesterday after a sell-off in Europe and the US the previous night and among the major markets only...
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