Economy / Indonesia
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Equities To Suffer At The Hands Of Tumbling Commodity Prices
October 2008 | Market StrategySorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Although we retain a bearish view towards all Asian stock markets as the deepening global financial crisis continues to spark heightened risk aversion among investors, we caution that the heavy weighting of energy and commodity stocks in Indonesia's benchmark Jakarta Stock Exchange (JKSE) composite index make it among the region's most vulnerable equity markets. Furthermore, with significant downside for Indonesian equities on the cards, we caution that further rupiah weakness is now our core scenario.