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.”