SE Asia Stocks: Rise; Philippine at all-time high
BANGKOK, July 3 – Southeast Asian stock indexes mostly gained today amid hopes that major central banks will take further policy steps to support weak economies while stronger oil prices bolstered buying into energy-linked stocks.
The Philippine index finished up 1.24 per cent at an all-time high while Singapore’s Straits Times Index and Jakarta’s Composite Index both climbed more than 1 per cent to their highest in almost two months.
Investors bought large caps and commodities such as Singapore’s Golden Agri Resources Ltd, Indonesia’s Bank Rakyat and Philippine Long Distance Telephone Co which were up 5.1 per cent, 3.2 per cent and 1.6 per cent, respectively. – Reuters