BANGKOK: Malaysia's key index hit a two-month closing high on Monday amid a fall in the ringgit and foreign-led buying of shares while Vietnam's benchmark hit a one-month closing low after the latest round of Pacific trade talks concluded at the weekend without a deal.
Kuala Lumpur's composite index rose 1.2 percent to 1,744.19, it highest close since June 5, after late buying that saw telecom shares rallying. Shares of Maxis Bhd
and Axiata Group Bhd notched up gains of almost 8 percent each.
The Malaysian bourse said it saw foreign inflows for a second straight day on Monday, with foreign investors buying a net 88.9 million ringgit ($23.08 million) worth of shares after
Friday's 132 million ringgit ($34.28 million) net purchase.
The ringgit's woes worsened due to the political pressures on Prime Minister Najib Razak as a result of the scandal over indebted state-fund 1MDB.
Others in the region ended mixed amid weaknesses in Asian stocks and a drop in global oil prices.
Singapore slipped to the lowest close since Oct. 20 while Indonesia drifted slightly into negative territory, reversing from a one-week closing high on Friday.
Thai stocks eked out small gains while the Philippines rose for a fourth day.
SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
Singapore 3192.79 3202.50 -0.30
Kuala Lumpur 1744.19 1723.14 +1.22
Bangkok 1442.04 1440.12 +0.13
Jakarta 4800.18 4802.53 -0.05
Manila 7573.26 7550.00 +0.31
Ho Chi Minh 609.47 621.06 -1.87
Change on year
Market Current End 2014 Pct Move
Singapore 3192.79 3365.15 -5.12
Kuala Lumpur 1744.19 1761.25 -0.97
Bangkok 1442.04 1497.67 -3.71
Jakarta 4800.18 5226.95 -8.16
Manila 7573.26 7230.57 +4.74
Ho Chi Minh 609.47 545.63 +11.70
($1 = 3.8510 ringgit)
- Reuters
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