Asean Stocks Extending Rebound After Jakarta Enters Bull Market
- Region’s equities regain momentum after spring rally faltered
- Investors see Southeast Asia relatively protected from U.K.
IG's Aw: Market Rally Won't Last Too Long
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Southeast Asian stocks have been quick to shrug off the post-Brexit blues.
The Jakarta Composite Index added to gains after entering a bull market on Wednesday on the passing of a tax amnesty bill. Equities in the Philippines are at the highest in more than a year on optimism Rodrigo Duterte, who takes office as president at noon local time on Thursday, will speed infrastructure development. Thai stocks are up 18 percent from the year’s low and Singaporean equities are headed for the biggest three-day rally since March.