Investors turn to ASEAN markets as inflation’s grip loosens

SINGAPORE — As expectations of a U.S. interest rate cut grow, investors have started to turn to high-growth Southeast Asia in search of markets positioned to benefit from tamed inflation.

Southeast Asian stock markets have soared to new highs since mid-August, with Indonesia’s Jakarta Composite Index touching a record this past Wednesday. Malaysia’s Kuala Lumpur Composite Index on Tuesday touched its highest since December 2020.