Strong US Data Drives Big Day for Southeast Asian Markets
Bangkok. Most Southeast Asian stock markets rose on Wednesday, with benchmark indexes in the Philippines and Indonesia reaching all-time highs, as strong US economic data boosted investor appetite for risky assets, particularly the region’s energy and commodities stocks.
Jakarta’s Composite Index ended at 4,219.3, surpassing its previous record reached on April 3, while the Philippine index finished at 5,228.84.
Thailand’s main SET index marked a new 16-year high, with foreign investors buying shares for a net 628.87 million baht ($20.45 million) on the day, the Thai bourse said.
Malaysia also reported foreign inflows of 210 million ringgit ($69.40 million), stock exchange data showed.