Stock Watch
WATCH: Stock picks — rand and Alibaba
Nesan Nair from Sasfin Securities and Deryck Janse van Rensburg from Anchor talk to Business Day TV
Nesan Nair from Sasfin Securities chose rand as his stock pick of the day and Deryck Janse van Rensburg from Anchor chose Alibaba.
Nair said: “I think we are going to see risk-on trade, I think we’re going to see risk in emerging markets, I think the rand was probably the most battered currency and I think in the short term, you’re definitely going to see some sort of strength in the rand, so I’m going for the rand. I think we’re going to see maybe below R15 before the end of the year.”
Janse van Rensburg said: “I’m looking at multiple currencies, whether it be the euro or the pound at this point. Obviously, positioning accordingly and I think that there’s a good strong argument for how China comes out of the current situation that they’re in at the moment from a macroeconomic perspective. So, certainly keeping my eye on a few stocks there and it does talk to my stock pick tonight being Alibaba.”