Hold Off on Buying Indonesia Stocks for Now, Strategists Say
- Strong fundamentals can’t avert short-term damage, Joshi says
- Aberdeen Standard’s Joshi cites worries over exchange rate
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Indonesia’s key stock index may be down 14 percent from its February peak but it still isn’t time to get back into equities in Southeast Asia’s biggest economy.
That’s the message from Morgan Stanley analysts Sean Gardiner and Aarti Shah and Aberdeen Standard Investments investment director Bharat Joshi, who said the rupiah’s weakness may keep investors away as emerging-market turmoil deepens.