Asian Minors Extend Multi-Day Upward Trend
Minor Asian stock indexes continued to trade up today, extending a multi-day winning streak which indicated optimism in the growing markets despite fears over China and Japan.
The JCI in Indonesia rallied 133 points today, up 2.85%. This signals a return in confidence to the Southeast Asian powerhouse after terror attacks and China concerns caused the JCI to tumble earlier in the year.
In Malaysia, the FTSE KL traded up 1.57% today. Once again we see that optimism in Japan leads to optimism in Malaysia.
In Singapore, the STI saw a 2.4% pop today, with all but one listed company seeing stock prices edge higher for the session. Singapore Telcom (ST10) and Singapore Airlines (SIA) led the rally, gaining 6.23% and 3.88% respectively.
Thailand and Taiwan both saw flat trading in the afternoon session, with both indexes hovering in and around the prices they opened at. The SET50 in Thailand is trading 0.8% in positive territory for the week while the TWSE in Taiwan is down 0.02% for the same period.
Lastly, the Philippines saw a further move upwards, with the PSEI trading up 1.69% in the afternoon session. The Philippines saw 7% growth in its stock market for 2015, making it one of the best-performing economies in the region.
All in all a bright and optimistic day for Asian minors as fears subside and bargain hunters get to work.
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