All Southeast Asian stock markets gained on Wednesday, helped by better-than-expected economic growth in China, while Indonesian shares rose to a more than 13-month closing high on hopes Joko "Jokowi" Widodo would win the presidential election. The Jakarta Composite Index ended 0.9 percent firmer at 5,113.93, its highest close since May 30, 2013. Indonesian shares saw foreign inflows of $31.78 million on Wednesday.
Analysts said news on the vote count was boosting sentiment as it continued to point toward Jokowi winning the election. Gains were led by a 2.2 percent rise in Bank Central Asia. Optimism around a possible win for Jakarta Governor Jokowi, who is perceived as being market friendly, had sent stocks to an over-13-month high the day after the election.
The Thai stock index ended 0.4 percent firmer at its highest close since June 4, 2013 with $41.01 million in foreign inflows. Analysts expect further consolidation in Thai stocks. Singapore shares were up 0.2 percent while Vietnam's benchmark VN Index closed 0.1 percent higher, surrendering early gains to late profit-taking. Malaysia, which saw $73.17 million of foreign inflows, recovered from early losses to end 0.1 percent higher.
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