Indonesia Stocks to Rise as Inflation Risk Overstated,Panin Says

Indonesia stocks, Asia’s best performer among major markets this year, will extend their rally as concerns about accelerating inflation are overstated and potential interest-rate increases won’t slow the economy, according to PT Panin Sekuritas, the nation’s best performing fund over the past five years. 
 

Investors should buy PT Gudang Garam and PT Indofood Sukses Makmur as consumption growth will likely hold up, boosting demand for cigarettes and food products, David Sondakh, a Jakarta-based analyst at Panin, said in an interview today.Source: Bloomberg