BANGKOK, July 7 — Malaysia’s benchmark index today hit an all-time closing high as Indonesian shares posted their best gain in three months.
Kuala Lumpur’s composite index rose 0.4 per cent to a record close of 1,892.50, with banking stocks leading the way.
There was active buying in shares of Maybank and Public Bank, with interest rates seen on the rise.
Malaysia’s central bank is expected to raise its key interest rate to 3.25 per cent at a policy meeting on Thursday, a Reuters poll showed.
Indonesia’s rupiah rose with inflows into large-cap shares, as foreign investors cautiously built positions in equities again, with the presidential election two days away.
They were net buyers of big-caps such as Telkom Indonesia and Bank Rakyat Indonesia, Thomson Reuters data showed.
The Indonesian stock market recorded its first net foreign buying in three days, bringing in a net 760.6 billion rupiah (RM203.8 million). It saw a fall in inflows to US$234 million (RM744.5 million) in May, a third of the month earlier, amid election uncertainty.
Jakarta’s composite index closed up 1.7 per cent, recording its biggest gain since April 1, while the rupiah extended gains to a five-week high.
The Philippines recorded inflows worth a net 901 million pesos (RM65.8 million) with foreign buying in shares such as Bank of the Philippine Islands and property shares including Megaworld.
In Bangkok, the SET index closed above a psychological level of 1,500, helped by a 2.2 per cent jump in shares of top energy firm PTT, and foreign inflows worth a net 1.7 billion baht (RM166.8 million). Singapore posted a fifth straight gain while Vietnam ended near a three-month high. — Reuters
