Rekomendasi Saham RHB Sekuritas

*Indonesia Strategy: ID/SG/KL Marketing Feedback: Buy Infra Stocks*
(Henry Wibowo – RHB Sekuritas)

*Expect sector rotation in 2H; Keep an eye on consumer space especially on fuel price hike scenario.* If Jokowi gets re-elected, we expect a similar strategy to 2015 where he will remove fuel-subsidy and pass on the recent oil price increase to consumers. This is especially important to narrow our Current Account Deficit. Based on history, fuel price hike is always a temporarily negative to consumer names as purchasing power will be impacted. Furthermore, valuations are also no longer cheap as the sector has been one of the best performing in 2018. *We expect sector rotation towards infra (WSKT, WIKA, PTPP, ADHI, JSMR, SMGR), property (CTRA, PWON, SMRA, BEST, SSIA), telco (EXCL, TLKM), automotive (ASII), metals (TINS), while banks remain a key OVERWEIGHT.*