------Original Message------ From: dani...@aaasecurities.com Subject: Indonesia Tops Equity Picks In December Sent: Dec 23, 2009 18:35
=ASIA FUND POLL: Indonesia Tops Equity Picks In December ¶ HONG KONG (Dow Jones)--Indonesian equities emerged as a favorite pick among fund managers in December, while investors turned negative on Indian equities for the first time in over a year, according to Dow Jones' monthly survey of managers. ¶ Portfolio managers, on average, became heavily overweight on Indonesian stocks, a change from slightly overweight last month, as they banked on the strong domestic consumption focus of the growing Southeast Asian economy. ¶ Indian stocks, meanwhile, carried a slightly underweight weighting, the first time they have moved out of positive territory since November last year, when they were also slightly underweight. ¶ So far this year, the Jakarta Composite Index, or JCI, is up more than 80%, the biggest gain in the region behind China's benchmark Shanghai Composite Index, which is up 87%. ¶ Fund managers went from slightly underweight to overweight on Indonesian stocks in November last year, and since then, have continued to favor them although December's rating is the highest so far. Investors have been encouraged by the country's domestic demand-driven economy and President Susilo Bambang Yudhoyono's mandate to accelerate economic reforms after his landslide victory in July. ¶ Thailand was another market whose stocks came back in favor in December. Fund managers were overweight on Thai stocks, after being underweight in November. ¶ In other parts of Asia, investors continued to favor China and Hong Kong equity markets, amid continued optimism about the mainland's domestic growth prospects and corporate earnings growth. Sent from my BlackBerry® powered by Sinyal Kuat INDOSAT Sent from my computer of course!
