SE Asia Stocks: Singapore, Indonesia outperform in July
BANGKOK, July 31 – Singapore stocks hit their highest in almost a year today, posting the best monthly gain since January while Indonesian shares climbed to a nearly three-month high, racking up the biggest monthly gain in nine months amid foreign buying.
Singapore’s benchmark Straits Times Index edged up 0.12 per cent to 3,036.40, the highest close since August 4. For the month, the index was up 5.5 per cent, Southeast Asia’s best performer.
Jakarta’s Composite Index ended up 1.05 per cent at 4,142.34, the highest close since May 9. It gained 4.7 per cent in July, the second best. This compares with 2 per cent, 2.3 per cent and 1.2 per cent monthly gain for Malaysia, Thailand and the Philippines, respectively.
Indonesia showed a net foreign purchase of US$355 million (RM1.11 billion) so far in the month to July 30, after two consecutive months of net foreign selling for a combined US$1 billion, according to Thomson Reuters data.
The Philippines recorded US$551 million worth of net foreign purchase in the month to July 30, including a number of block trades while Thailand posted US$38 million worth of net foreign selling for the same period, adding to US$650 million of net foreign selling of the past two months, data showed. – Reuters