Indonesian shares jumped on Friday after Standard & Poor's raised the country's sovereign bond ratings to investment grade. (Reuters photo)Indonesian shares vaulted to a record high on Friday, notching their biggest weekly gain since March, after Standard & Poor's (S&P) raised the country's sovereign bond ratings to investment grade, a move long awaited by investors and the government. The upgrade would enable Indonesia to access a pool of eligible foreign investors that only invest in at least investment grade (IG)-rated asset, and provide a sentimental boost to equities and the economy, he added. Vietnam stocks ended at their highest in over nine years, logging a fourth week of gains, buoyed by financial and energy shares. Defying the broader trend, Singapore shares fell for a fourth straight session, recording their first weekly loss in three.

Source: Bangkok Post May 19, 2017 10:41 UTC