*Indonesia underperforms as investors shun 2011 winners* Indonesia was an underperformer, ending flat on the day, as funds balanced portfolios and rotated out of over-owned positions in favour of some of last year's laggards.
Stocks in Indonesia were on the backfoot, however, with the benchmark stock index flat on the day as investors continue to rotate out of some of 2011's winners. On the year, Indonesian stocks are up just 3.4 percent compared with a 14.1 percent rally for the MSCI Asia-Pacific ex-Japan index. According to analysts at Morgan Stanley, a key concern among investors was that Indonesia had become highly owned after last year's stark outperformance and hence a crowded trade. Automotive equipment-maker Astra International, which surged more than 35 percent last year, fell 1 percent on Wednesday and dipped into negative territory on the year. Broker Credit Suisse maintained its "underperform" rating on the stock earlier this week largely on valuations. -- '+' Follow positif01indo on Twitter: https://twitter.com/#!/positif01indo Persetujuan *request followers* baru diberikan hanya satu kali tiap akhir kuartal maks 500 *request */ diskresi kami.
