PT Jamsostek, Indonesia’s biggest pension fund, said the nation’s benchmark stock index will extend losses, giving the manager an opportunity to boost equity holdings amid optimism about the country’s economic growth.
Malaysia’s ringgit fell to a 10- month low and the five-year government bond yield climbed to the highest in three months as investors await clues as to when U.S. policy makers will start reducing monetary stimulus.
Palm oil shipments from Indonesia, the world’s biggest producer, probably advanced for the first time in four months in May on increasing demand for the Muslim fasting month of Ramadan. Prices climbed to a three-month high.
Malaysia’s ringgit forwards fell the most in almost three weeks on speculation the Federal Reserve will unwind stimulus that has spurred inflows to emerging markets. Government bonds were little changed.
Felda Global Ventures Holdings Bhd., the world’s third-largest manager of palm oil plantations, plans to tap its 6.2 billion ringgit ($2 billion) cash pile to expand abroad as Malaysia runs short of available land.