Trump May Give Already Hot Indonesian Miners an Extra Boost
- Jakarta mining stocks gauge has surged 22 percent this quarter
- Stronger dollar to improve company bottom lines: Sucorinvest
Trump Effect on Commodities: Copper Up, Oil Down
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Already riding a rebound in coal and nickel prices that’s made them some of the hottest stocks in Asia, Indonesian miners may get an extra tailwind from Donald Trump.
A gauge of Indonesian miners has risen 21 percent this quarter, compared with a 4.6 percent decline in the Jakarta Composite Index, as output curbs in China pushed up coal prices and nickel was supported by an environmental crackdown in the Philippines, the world’s top supplier. Mining and agriculture were the only two of nine industry gauges on the JCI to climb on Friday as the measure plunged 4 percent in its biggest drop in three years.