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CORRECTED-SE Asia Stocks-Upbeat China, U.S. data aid sentiment
August 31, 2017 / 10:13 AM / in 3 months

CORRECTED-SE Asia Stocks-Upbeat China, U.S. data aid sentiment

 (Corrects to remove incorrect time stamp in third paragraph)
    By Chandini Monnappa
    Aug 31 (Reuters) - Southeast Asian stock markets, except
Indonesia, edged up on Thursday, as a surprise increase in
Chinese factory output and upwardly revised U.S. economic growth
provided some cheer, although concerns over North Korea
lingered.
    Growth in China's manufacturing sector unexpectedly
accelerated in August, defying expectations that the world's
second-largest economy will start to cool as borrowing costs
rise and regulators clamp down on riskier lending.
    The U.S. economy grew faster than initially thought in the
second quarter, notching its quickest pace in more than two
years, while private-sector employment logged its biggest
monthly increase in five months, driving expectations that
non-farm payrolls numbers for August would be solid.

    Tensions between the United States and North Korea simmered
in the background after U.S. President Donald Trump dismissed
any diplomatic negotiations via a tweet, a day after the
reclusive state fired a ballistic missile that flew over Japan.

    In Southeast Asia, the Singapore index closed at its
highest in more than two weeks, supported by financial shares.
    Index heavyweight United Overseas Bank climbed 1.5
percent, while Oversea-Chinese Banking Corporation
ended the day 1.7 percent higher.
    For the month, Singapore shares fell 1.4 percent, snapping
seven straight monthly gains to log its worst month in nine.
    Vietnam finished 0.5 percent higher, helped by
financials, with Joint Stock Commercial Bank for Investment and
Development of Vietnam the biggest index gainer.
    The index fell 0.1 percent on month, snapping three straight
months of gains.
    Indonesia dropped slightly, closing lower for a
fourth straight session, but posted a monthly gain of 0.3
percent, extending gains to a seventh straight month.
    Private hospital operator Mitra Keluarga Karyasehat Tbk
 fell more than 8 percent, dragging down the index.
    "Indonesia is closed tomorrow; there are some data points
that will be released tomorrow such as the labour report in the
United States, so I think there is little bit of caution ahead
of that," said Taye Shim, head of research at Jakarta-based
Mirae Asset Sekuritas.
    Thailand closed up 0.2 percent on broad-based gains.
    Malaysia was closed for a national holiday.
 
        
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change on day
  Market           Current     previous close  Pct Move
  Singapore        3277.26     3265.26         0.37
  Bangkok          1616.16     1613.34         0.17
  Manila           7958.57     7956.73         0.02
  Jakarta          5864.059    5872.506        -0.14
  Ho Chi Minh      782.76      778.65          0.53
                                               
  Change on year                               
  Market           Current     End 2016        Pct Move
  Singapore        3277.26     2880.76         13.76
  Bangkok          1616.16     1542.94         4.75
  Manila           7958.57     6840.64         16.30
  Jakarta          5864.059    5296.711        10.71
  Ho Chi Minh      782.76      664.87          17.70
 
 (Reporting by Chandini Monnappa in Bengaluru; Editing by Biju
Dwarakanath)
  

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