Best-of-breed investment bank Goldman Sachs has said that it expects Indonesia to be among the 15 biggest economies in the world. With recently-announced year-over-year growth rates of 6.4%, while the rest of the world sputters, it's not so farfetched. But which Indonesian stocks in particular might be worth a look for adventurous investors?
Many analyst picks are in the coal sector, which has been so beaten up that bargains are starting to appear. Tom Wright in Wall Street Journal Asia points out that Bumi Resources and Adaro Energy are now looking attractively valued. Analyst Nick Cashmore of CLSA Asia-Pacific Markets recommends state-owned coal concern Tambang Batubara Bukit Asam, along with Indo Tambangraya Megah.
For the bigger picture, ETF advisor Carl Delfeld singles out the Indonesia Fund, a closed-end Credit Suisse product. With the country still boasting muscular growth rates despite a central bank that's committed to taming inflation, he says Indonesia's emerging story bodes well for the Jakarta Index as a whole.
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