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SE Asia Stocks-Largely up on strong U.S. consumer data; Indonesia hits record high
March 29, 2017 / 5:53 AM / 4 months ago

SE Asia Stocks-Largely up on strong U.S. consumer data; Indonesia hits record high

3 Min Read

    By Sindhu Chandrasekaran
    March 29 (Reuters) - Indonesian shares hit a record high on
Wednesday, leading gains in Southeast Asia, as strong U.S.
consumer confidence buoyed sentiment in Asian economies reliant
on exports to the United States.
    U.S. consumer confidence surged to a more than 16-year high
in March, government data showed on Tuesday, while the goods
trade deficit narrowed sharply in February, indicating the
economy was regaining momentum after faltering at the start of
the year.
    "The markets are responding positively to the positive
(U.S.) consumer sentiment,"  said April Lee-Tan, head of
research department at COL Financial Group, adding regional
markets would benefit from upbeat U.S. consumers by boosting
exports.
    Indonesia gained as much as 0.9 percent, buoyed by
financials such as Bank Negara Indonesia (Persero) Tbk PT, which
rose 3.5 percent. The market was closed on Tuesday for
a holiday.
    Singapore climbed 0.8 percent, with financials
including DBS Group Holdings accounting for more than
half the gains. 
    Vietnam was trading flat, after data showed Vietnam's
economic growth hit a three-year low of 5.1 percent
year-over-year in the first quarter, the slowest pace for any
quarter in three years, as adverse weather hurt agricultural
output.
    The country's inflation in March slowed as prices of food,
drinks and clothes fell slightly, the General Statistics Office
said.
    Thai stocks were also largely flat, ahead of the
Thai central bank's monetary policy review due later in the day.
The interest rate, which has been steady since April 2015 and is
just a quarter-point above the record low in 2009, is expected
to remain unchanged.
    Malaysia fell as much as 0.3 percent, with
industrials dragging down the index. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS : CHANGE AT 0443
    
 Market          Current     previous   Pct Move
                             close      
 Singapore       3177.55     3157.82    0.62
 Bangkok         1576.83     1576.72    0.01
 Manila          7334.17     7331.46    0.04
 Jakarta         5586.115    5541.202   0.81
 Kuala Lumpur    1750.63     1754.42    -0.22
 Ho Chi Minh     719.13      719.26     -0.02
                                         
 Change on year                          
 Market          Current     End 2016   Pct Move
 Singapore       3177.55     2880.76    10.30
 Bangkok         1576.83     1542.94    2.20
 Manila          7334.17     6840.64    7.2
 Jakarta         5586.115    5296.711   5.46
 Kuala Lumpur    1750.63     1641.73    6.63
 Ho Chi Minh     719.13      664.87     8.2
 
    

 (Reporting by Sindhu Chandrasekaran; Editing by Amrutha
Gayathri)
  

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