Southeast Asian stock markets rose on Monday, with Indonesian stocks marking a record close for a second time in the month amid expectations of a likely end to fuel subsidy. Stocks in the Philippines hit the highest in more than 15 months. Jakarta's Composite Index closed up 0.6 percent at 5,246.48, surpassing the record closing high of 5,224.135 hit on September 3. The market brought in foreign inflows for a fourth straight session on Monday amid talks of a fuel price hike.
Foreign investors bought shares worth a net 561 billion rupiah ($47.84 million), adding on a combined 934 billion rupiah ($79.65 million) over the past three consecutive trading sessions, Thomson Reuters data showed. The inflows boosted large caps such as Telkom Indonesia and shares of Bank Central Asia. The Philippine main index was up 0.7 percent at 7,314.94, the highest close since May 22, 2013, with foreign investors buying shares worth a net 1.17 billion peso ($26.85 million), stock exchange data showed.
In Malaysia, foreign investors bought a net 80 million ringgit ($25.21 million) and in Thailand, it was a net 1.4 billion baht ($43.75 million), stock exchange data showed. Brokers attributed the inflows to tepid US non-farm jobs data which could delay the Federal Reserve's decision on an interest rate hike.
Comments
Comments are closed.