Indonesia, Malaysia Are Outliers as Foreigners Sell Asian Stocks

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Bloomberg News

Indonesia,Asian Markets,Overseas Funds

(Bloomberg) -- Equities in Indonesia and Malaysia are standing out as bright spots in Asia this month as global investors trim their exposure to almost every...

-- Equities in Indonesia and Malaysia are standing out as bright spots in Asia this month as global investors trim their exposure to almost every other market in the region.Overseas funds have bought $684 million of Indonesian stocks on a net basis in August through Thursday, while putting about $241 million in Malaysian shares. Both markets are poised to see a second straight month of inflows.

Indonesia is benefiting from its fiscal discipline and economic growth, while Malaysia is riding the artificial-intelligence wave after wooing billions of dollars in data center investments. The ringgit and the rupiah are the top performers against the dollar this month in a basket of 23 emerging-market currencies as overseas funds are boosting holdings of the nations’ bonds too.

ATLANTA — Rookie Spencer Schwellenbach retired 19 hitters in a row and the Atlanta Braves took two of three in their series with NL East-leading Philadelphia, beating the Phillies 3-2 Thursday night.

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