JAKARTA. The United States of America (the US) has completed the event of presidential election with the results Donald Trump victory over Hillary Clinton. The stock market welcomed the new US president in the red zone. Most of Asian benchmark indexes closed down.
In the midst of such sentiment, shares in the commodity sector are championed. "In particular, commodity stocks in the energy sector," said Head Online Trading Profindo International Securities Indra Prasetiya, Wednesday (9/11).
According to Indra, Trump will likely take a lot of policies that encourage industrial activity. Perhaps, Trump is also likely to exploit military industry, which needs large energy consumption.
During the campaign period, Trump fairly often threw some issues related to military aggression. "Over the last two years, energy sector stocks were in a downward trend. This related to Obama's policies that reduced the intensity of military aggression," said Indra.
Indra favors PT Adaro Energy Tbk (ADRO). ADRO’s shares price actually increased by more than 200% since the end of 2015. Yesterday, the price of ADRO’s shares dropped by 3.68% to the level of IDR1,570 per share. "It is good if (ADRO) falls again in the trade on Thursday. This is a good time to go back in," said Indra.
Director of Asset Management Investment Sucorinvest Jemmy Paul had a similar view. The Trump’s victory has driven potential tension in US foreign relations and potentially disrupts oil supplies. When the supply faltered, commodity prices will increase. “So, commodity stocks could be an option," said Jemmy.
According to Indra, besides the shares of energy issuers, the shares of gold issuers are also worth a glance, on the grounds that when certainties arise, investors sought safe haven assets. In other words, the gold mining issuers have potentials to increase their revenues.
Shares of PT J Resources Asia Pacific Tbk (PSAB) yesterday rose by 2.58% to a level of US$318 per share, while the shares of PT Aneka Tambang Tbk (ANTM) fell by 2.20% to IDR890 per share. "Characteristics of ANTM stock is like this, is somewhat late," said Indra.
Analyst at Koneksi Alfred Nainggolan explained that the market shock was not caused by the nature or the issues of high tension of the US foreign relations, but rather because of the potential for drastic policy changes that may be taken by Trump.
Market predicts that if Clinton won, she would continue the current policies. “Now Trump won. It’s beyond the market expectations. Trump probably will take the new policies. It is seen as the market uncertainty," said Alfred.
However, he sees this effect is only temporary. At the end, the Jakarta Composite Index (JCI) movement will depend more the domestic fundamentals. Moreover, there is optimism that Indonesia’s macroeconomic conditions in the next year will be more positive. Thus, market players do not need to worry.
(Muhammad Farid/Translator)
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