Southeast Asia stocks rise on Turkey rate hike; Thai political tensions remain
BANGKOK (Reuters) - Most Southeast Asian stock markets rose on Wednesday as Turkey's huge hike in interest rates boosted Asian share markets.
Thai stocks eked out small gains, helped by selective buying in exporters, but political risks ahead of election remained a drag.
Indonesia outperformed the region, with Jakarta's Composite Index (JCI) up 1.8 per cent amid bargain hunting. Shares of Charoen Pokphand Indonesia jumped 3.8 per cent, making them one of the top percentage gainer on the large cap index.
"We expect domestic related counters to support market rally today. With positive sentiment from regional market increasing, we expect JCI would further strengthen," said Jakarta-based Trimegah Securities in a report.