Indonesia: The Next BRIC member?

by: Emerging Money

Indonesia has been attracting record amounts of foreign capital this year. Could this be the next member of the "BRIIC" group? We reviewed Indonesia a few weeks ago, here is an update coinciding with President Obama's visit.

The Jakarta Composite index is up a stunning 41% so far this year, while the investable Market Vectors Indonesia Index (NYSEARCA:IDX) has gained an even more bullish 44%.

(The MSCI Indonesia ETF EIDO is up 38% from its early May launch.)

Indonesia is the biggest economy in Southeast Asia (much bigger than Thailand, bigger than Malaysia and Singapore put together) and growing at an annualized rate of about 6%.

The country combines several of the best aspects of the BRIC markets -- the vibrant consumer economy of Brazil, the geological wealth of Russia, the massive infrastructure build-out of India and the booming telecom markets of China.

In general, you can tell a company is Indonesian from the prefix "PT." The biggest Jakarta-listed stocks you can trade over here are Indonesia Telecom (NYSE:TLK) and Indosat (IIT).

Smaller ADRs in Indonesia that trade fairly often include:

Disclosure: No positions