Mandiri picks commodity firms to rise on FX concerns
Foreign exchange flows will continue to drive up the price of commodities, benefiting Indonesia’s palm oil and coal sectors, says local brokerage Mandiri Sekuritas. It is also bullish on the construction sector, which is set to gain from Indonesian infrastructure development.
The competition among the world’s economies to depreciate their currency valuations has been a divisive topic but it is throwing up investment opportunities in commodities stocks, according to Ari Pitoyo, the head of equity research at Mandiri Sekuritas, the top domestic Indonesian brokerage in Asiamoney’s Brokers Poll.
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