Most Southeast Asian stock markets rose on Friday as inflows into large-caps and financials helped the Indonesian benchmark to a two-week high while Vietnam outperformed in the region amid active buying in banking and energy shares. The Jakarta composite index closed up 0.8 percent at 4,982.91, the highest close since June 19. It posted a weekly gain of 1.2 percent, trimming its year-to-date loss to 4.7 percent, still the worst performer in Asia.
Foreign investors were net buyers of index heavyweights such as Indofood Sukses Makmur, which jumped 3.5 percent and Bank Mandiri, which rose 1 percent. Investors in the region stayed on the sidelines ahead of Greece's Sunday referendum which may prompt its exit from the euro zone, while Asian stocks fell amid a rout in China's stock markets. Trading volume fell in most stock exchanges in Southeast Asia including Singapore and the Philippines. Both saw their trading volume at less than two-thirds of a 30-day average.
Sharemarkets had a mixed performance for the week. Vietnam posted a weekly gain of 6 percent, the best performer, ahead of Malaysia's 1.4 percent and Singapore's 0.7 percent gains. The Thai SET index lagged its regional peers, with a weekly drop of 1.9 percent. The Philippines also fell on the week, down 1.1 percent.
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