STOCKS NEWS ASEAN-Higher inflows fuel 2012 share rally, Philippines leads
Fund flows data showed foreign investors had put more money into stocks in the region in 2012 than last year, led by the Philippines largely due to its robust economic growth and amid hopes the southeast Asian nation could be awarded a ratings upgrade.
For Philippine ratings story, see
Foreign inflows into the Philippine stock market totalled $2.64 billion so far this year to Dec. 27, more than double that of last year, according to Thomson Reuters and stock exchange data.
The Philippine composite index gained 33 percent in 2012, and was southeast Asia's second-best performing bourse after the Thai SET index, which rose 36 percent.
Data show similar strong flows of $2.5 billion into Thai stocks during the year to Dec. 27, compared with an outflow of $167 million in 2011 when the country suffered severe flooding.
In Indonesia, the pace of inflows in 2012 was not as strong as it was over the previous two years, with year-to-date total of $1.6 billion. Jakarta had attracted inflows of $2.4 billion in 2011 and $2.2 billion in 2010.
Vietnam's Ho Chi Minh Stock Exchange's VN Index saw $150 million in inflows so far this year to Dec. 27 versus $63 million inflows last year.
Foreign flow data for Singapore and Malaysia is not available.
For Southeast Asia foreign inflows graphics; click link.reuters.com/byr84t
(Reporting by Viparat Jantraprap in Bangkok; Editing by Sunil Nair)
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