BANGKOK, Aug 13 – Southeast Asian stock markets mostly edged up today on hopes that weaker economic outlook could spur stimulus measures around the world, but concerns over sluggish growth capped the gains with Jakarta underperforming the region.
The growth concerns trimmed the day’s trading volumes as investors stayed on the sidelines for directions from July US retail sales and consumer prices, along with the euro zone’s second quarter gross domestic product reading, which are expected to be released tomorrow.
Singapore’s Straits Times Index ended 0.35 per cent firmer, the Philippine index gained 0.16 per cent, and Vietnam, the region’s best performer for this year ended 0.14 per cent stronger.
Malaysia added 0.1 per cent to finish at a near record high.
Bucking the trend, Jakarta’s Composite Index fell 0.9 per cent led by financials with a 1.2 per cent fall in Bank Mandiri Persero Tbk and 2.6 per cent loss in Bank Negara Indonesia Persero Tbk.
Thailand was closed today for a holiday. – Reuters