Foreign investors betting on South-East Asia equities
They are convinced the Asean stock rally is sustainable and have pumped US$596m into the markets so far in June
Singapore
SOUTH-EAST Asian stocks are winning fans again, with investors betting that a rally that's driven equities from Bangkok to Manila to the highest levels since the middle of 2015 has room to run.
Foreign investors have pumped US$596 million into Philippine, Thai, Indonesian and Vietnamese shares so far in June, wiping out declines in April and early May. Rising commodity prices and dwindling odds of a US rate increase by July are providing a favourable global backdrop, while new leaders, interest-rate cuts and state spending are generating optimism closer to home.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
DBS CEO Piyush Gupta sells S$2.7 million worth of bank shares
Over S$646,000 spent to store, maintain, safeguard assets in money laundering case
Philippines eyes US$2 billion in its first global bond this year
UniCredit jumps past 60 billion euro market cap to join elite club
New Thai finance minister downplays row with central bank
China's CICC may cut investment banking headcount by at least 10% this year