Consumer Sector
Neutral
OCBC Investment Research, Jan 8
This year had started on a fairly bleak note, with the Straits Times Index down about 4 per cent over the last four trading days, while the consumer indices, FTSE Consumer Goods (FSTCG) and FTSE Consumer Services (FSTCS) were equally unexciting with declines of 2.1 per cent and 3 per cent respectively.
We highlight that there are expectations for a better outlook in Indonesia, underpinned by a potential improvement in private consumption.
We think the China-Australia free trade agreement, which entered into force in December, is also worth noting, as QAF's pork production business could benefit from the planned tariff reductions and increase...
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