29 Mar '17, 11am

Indonesia stocks hit record high, Singapore near 20-month peak - The Star Online

Indonesia stocks hit record high, Singapore near 20-month peak - The Star Online

SINGAPORE: Indonesian stocks hit a record high on Wednesday while Singapore shares climbed to their highest in nearly 20 months as data showing strong U.S. consumer confidence boosted sentiment in export-reliant Asian economies. US consumer confidence surged to a more than 16-year high in March, government data showed on Tuesday, while the goods trade deficit narrowed sharply in February, indicating the economy was regaining momentum after faltering at the start of the year. The regional markets were responding positively to the strong U.S. consumer sentiment, said April Lee-Tan, head of research at COL Financial Group, adding that they would benefit from upbeat U.S. consumers by boosting exports. Indonesian shares closed about 1 percent higher, coming off Monday's losses, on the back of gains in financial and material stocks. PT Bank Danamon Indonesia Tbk ended 4.2 percen...

Full article: http://www.thestar.com.my/business/business-news/2017/03/...

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