Southeast Asian Bourses Looking Good

September 2004 | Market Strategy

Southeast Asian bourses have seen notable gains this week, amid lower oil prices, and strong macroeconomic indicators. The Philippines' PSI jumped to a fresh 3½-year high of 1,614, with Philippines Long Distance Telephone Co (PLDT) leading the way on news that it would expand its presence across Asia. Meanwhile, Singapore's STI on Thursday also hit a 3½-year high, at 1,941. For both bourses, major gains - to 2,000 and 2,100, respectively - now depend on a decisive push above 1,600 and 1,900.

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