BANGKOK: Most Southeast Asian stock markets rose on Tuesday, with Indonesian benchmark extending gains to an all-time high as a weakening rupiah lifted selected shares, but Thai index headed for a third straight fall as PTT traded ex dividend.
Jakarta composite index edged up 0.2 percent at 5,489.15, surpassing Monday’s record closing high of 5,477.83.
Among outperformers, shares of mining firm Indo Tambangraya Megah were up 2.3 percent and shares of oil and gas firm Logindo Samudramakmur jumped 4.9 percent.
Mining and oil and gas shares are among beneficiaries of the rupiah depreciation against the dollar thanks to their dollar revenue and cost, said broker Trimegah Securities.
The broker favoured US dollar earners, citing the prospect for further rupiah depreciation.
“Although we remain optimistic on the long-term competitiveness of IDR, the risk is to the downside in the very near-term,” it said in a report.
In Bangkok, shares of PTT, the biggest firm by market value, dropped 1.2 percent, sending the broader SET index 0.7 percent lower.
Singapore’s Straits Times Index notched up a 0.7 percent gain after ending nearly flat on Monday. Malaysia’s key index recouped the previous session’s loss and the Philippines rose for a second day.
Vietnam’s benchmark VN Index rose 0.74 percent at the break on Tuesday as most blue chips advanced on domestic purchase.
