Reuters logo
SE Asia Stocks-Rise; Indonesia hits record, Thailand scales fresh 24-yr high
October 2, 2017 / 4:49 AM / 3 months ago

SE Asia Stocks-Rise; Indonesia hits record, Thailand scales fresh 24-yr high

    By Sumeet Gaikwad
    Oct 2 (Reuters) - Most Southeast Asian stock markets climbed
on Monday, with Indonesia hitting a record and Thailand scaling
a fresh 24-year peak, as better-than-expected China factory data
boosted investor sentiment.
    China's manufacturing activity in September grew at the
fastest pace since 2012 as factories cranked up output to take
advantage of strong demand and high prices, easing worries of a
slowdown before a key political meeting next month.
    Meanwhile, a Bank of Japan survey showed big manufacturers
in the country have more confidence in Japan's business
conditions than they have had for a decade as a weak yen and
strong global demand add momentum to the economic recovery.

    "Anything that will boost economies of Japan and China will
improve the sentiment in the region. Prospect of continuous
improvement on the economic side will boost equities along the
way," said Manny Cruz, analyst at Manila-based Asiasec Equities
Inc.
    Indonesian shares rose as much as 0.6 percent to an
all-time high of 5,936.138, but trimmed the gains to trade 0.4
percent higher. Unilever Indonesia was up 1.2 percent,
while Bank Negara Indonesia rose over 1 percent. 
    Indonesia's factory activity grew for a second month in
September, beating expectations, while annual inflation rate
eased for a fourth month in September, official data showed.

    Bank Indonesia has surprised markets by cutting its key
interest rate for two months in a row to spur economic growth,
predicting that inflation will remain well within its comfort
range of 3-5 percent, giving it more room to ease policy.
    Among other regional markets, Thai energy stocks and
consumer staples helped the country's index hit a near
24-year high.
    Thailand's annual headline consumer price index rose for a
third straight month in September, beating forecasts, but the
rate was still below the central bank's target, giving it room
to keep monetary policy loose to aid growth.
    Market heavyweights PTT Pcl and CP All Pcl
 rose 0.98 and 1.9 percent, respectively. 
    Singapore shares climbed 0.7 percent with blue chip
stocks DBS Group Holdings and United Overseas Bank Ltd
 rising 1.2 percent and 1.4 percent, respectively.
    Meanwhile, Malaysia edged down 0.2 percent and was
headed for its 10th straight session of losses. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0421 GMT
  
  Market           Current       Previous     Pct Move
                                 Close        
  Singapore        3241.23       3219.91      0.66
  Bangkok          1683.95       1673.16      0.64
  Manila           8239.28       8171.43      0.83
  Jakarta          5919.087      5900.854     0.31
  Kuala Lumpur     1752.63       1755.58      -0.17
  Ho Chi Minh      806.37        804.42       0.24
                                              
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3241.23       2880.76      12.51
  Bangkok          1683.95       1542.94      9.14
  Manila           8239.28       6840.64      20.45
  Jakarta          5919.087      5296.711     11.75
  Kuala Lumpur     1752.63       1641.73      6.76
  Ho Chi Minh      806.37        664.87       21.28
 



 (Reporting by Sumeet Gaikwad; Editing by Amrutha Gayathri)
  

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below