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5 months ago
SE Asia Stocks-Recover after Trump healthcare setback
March 28, 2017 / 11:11 AM / 5 months ago

SE Asia Stocks-Recover after Trump healthcare setback

    By Urvashi Goenka
    March 28 (Reuters) - Most Southeast Asian stock markets
ended higher on Tuesday as investors pinned their hopes on U.S.
President Donald Trump's stimulus plans after the healthcare
policy setback.
    While Trump's failure late last week to garner enough
support for a plan to repeal the Affordable Care Act, stoked
concerns about his ability to enact stimulus policies, these
began to recede overnight as investors looked with renewed,
albeit tentative, optimism to the U.S. government's next policy
steps.
    The president's policy moves will be in focus at least until
the next Federal Reserve meeting, said Teerada Charnyingyong, an
analyst with Phillip Securities Thailand.
    Philippine shares ended 1.2 percent higher in their
biggest single-day percentage rise since March 13, helped by
gains in industrial and financial stocks. SM Investments Corp
 gained 3.26 percent, while Ayala Corp rose 1.9
percent.
    Investors are looking at the more attractive emerging
markets such as the Philippines, said Rachelle Cruz, a research
analyst with AP Securities, adding that: "Last year we saw
foreign investors shifting towards the United States when Trump
won elections but we are calling it a reality check."
    The peso remains competitive and is likely to be supported
by a continued flow of remittances from overseas and the health
of domestic business process outsourcing, the central bank
governor said on Tuesday.
    "The strengthening of the peso will be good for the equity
markets since the central bank is not in a hurry to increase
policy rate because the peso is currently stabilising," said
Cruz.
    Singapore shares gained 1 percent, supported by
financials and industrials with in-flight food caterer SATS Ltd
 and Singapore Technologies Engineering Ltd
rising 2.3 percent and 1.9 percent, respectively.
    Malaysian shares ended 0.54 percent higher, helped
by gains in consumer discretionary and telecom stocks. Genting
Bhd rose 2.6 percent, while Axiata Group Bhd
added 1.4 percent.
    Telecoms and industrials led the Thai stock index
rise 0.4 percent.
    Bucking the trend, Vietnam fell 0.6 percent, hurt by
losses in consumer staples and financials.
    Indonesia was closed for a holiday.    
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS 
  Change on day                                             
  Market           Current         previous close  Pct Move
  Singapore        3157.82         3126.88         0.99
  Bangkok          1576.72         1570.5          0.39
  Manila           7331.46         7245.97         1.18
  Kuala Lumpur     1754.42         1744.95         0.54
 Ho Chi Minh       719.26          723.52          -0.59
                                                   
  Change so far                                    
 this year                                         
  Market           Current         End prev yr     Pct Move
  Singapore        3157.82         2880.76         9.62
  Bangkok          1576.72         1542.94         2.19
  Manila           7331.46         6840.64         7.17
  Jakarta          5541.202        5296.711        4.62
  Kuala Lumpur     1754.42         1641.73         6.86
 Ho Chi Minh       719.26          664.87          8.18
 
 (Reporting by Urvashi Goenka in Bengaluru; Editing by
Subhranshu Sahu)
  

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