"In Asia, after China and India, where can investors go?" Stocks, Rupiah The benchmark Jakarta stock index rose 1.5 percent to 2,973.36 at noon local time, exceeding its April 30 record close. The rupiah gained 0.9 percent to 9,013 per dollar as at 12:23 p.m. Moody's said it expects Indonesia to post "sustained strong growth" and further improvements in the government's financial and debt position. External disturbances such as the "instability in several European sovereign debt markets" have had no serious implications on Indonesia's "improving" credit fundamentals, Mitra said. S&P raised Indonesia's sovereign credit rating to BB from BB- on March 12, with a positive outlook. S&P and Moody's both rank Indonesia two levels below investment grade, while Fitch Ratings on Jan. 25 raised its rating to one step below investment.