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According to Bloomberg, it is the threat of the Fed taking away the punchbowl in Sept. Sounds like the standard media babble to me. The rupee has been hit hard.
Indonesia is an interesting case. It has not fully participated in the bull market like the Philippines and Thailand. Also a lot of pressure especially from Australia on the asylum seeking refugees that come out of Indonesia after they travel from other countries. Australia has shut the door saying that anyone who comes in on boat will not be settled in Australia. About 10,000 refugees a month were flooding the Australia coast from all parts of the Middle East and Asia. This was obviously putting a large burden on social services as Australia had been taking care of them beforehand. Indonesia still has a large presence of Islamic terror groups and the western world keeps a good eye on them. Corruption is still a big problem too.
Maybe it is time to load up on some palm oil producers like ADM and JMHLY but these are not pure palm oil plays and of course there are some environmental concerns with palm oil production and then there is the orangutan problem too.
I am not saying anyone should buy Indonesian stocks now, but at some point some brave souls will step in, load up, and reap some big-time rewards. It takes a lot of guts to buy stock in a true EM country when all heck appears to be going on.
Comments
Indonesia is an interesting case. It has not fully participated in the bull market like the Philippines and Thailand. Also a lot of pressure especially from Australia on the asylum seeking refugees that come out of Indonesia after they travel from other countries. Australia has shut the door saying that anyone who comes in on boat will not be settled in Australia. About 10,000 refugees a month were flooding the Australia coast from all parts of the Middle East and Asia. This was obviously putting a large burden on social services as Australia had been taking care of them beforehand. Indonesia still has a large presence of Islamic terror groups and the western world keeps a good eye on them. Corruption is still a big problem too.
Diversfied ag w/Palm Oil, maybe Bunge (http://www.bunge.com/citizenship/sus_palm_oil.html)