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SE Asia Stocks-Rise tracking recovery on Wall St, Asian stocks
September 7, 2017 / 4:05 AM / 17 days ago

SE Asia Stocks-Rise tracking recovery on Wall St, Asian stocks

    By Aditya Soni
    Sept 7 (Reuters) - Southeast Asian stock markets rose on
Thursday, tracking a recovery in global equities as Wall Street
gained overnight after U.S. lawmakers unexpectedly agreed to
raise the government debt limit, eliminating fears of a
government shutdown.
    Investors looked past the persisting tensions on the Korean
Peninsula that had weighed on regional markets this week after
Pyongyang's biggest-ever nuclear test on Sunday. 
    U.S. President Donald Trump forged a surprising deal with
Democrats in Congress on Wednesday to extend the U.S. debt limit
and provide government funding until Dec. 15, in a rare
bipartisan accord. 
    An index of stocks across Asia, excluding Japan,
 gained 0.5 percent.
    Philippine shares rose 0.4 percent, with industrials
and financials accounting for most of the gains.
    Index heavyweights SM Investments Corp and
International Container Terminal Services Inc rose 0.4
percent and 1.5 percent, respectively. 
    Singapore shares rose 0.2 percent as financials
outperformed all other sectors. 
    Oversea-Chinese Banking Corp climbed 0.7 percent,
lifting the index, while DBS Group Holdings gained 0.3
percent.
    Malaysia shares rose slightly ahead the central
bank's interest rate decision expected later in the day.
    Bank Negara Malaysia is expected to keep its benchmark rate
unchanged at 3 percent.
    "Expect Bank Negara to keep the OPR (overnight policy rate)
at 3.00% till end of 2018 and perhaps, with an easing bias
should growth momentum slows more than expected in 2018," DBS
Group said in a note. 
    Thai shares were up 0.3 percent while Indonesia
shares posted meagre gains. 
    An index of Indonesia's 45 most liquid stocks
edged down 0.2 percent.
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change at 0336 GMT
  Market           Current       previous     Pct Move
                                 close        
  Singapore        3239.13       3232.47      0.21
  Bangkok          1625.29       1621.3       0.25
  Manila           8018.83       7983.97      0.44
  Jakarta          5829.272      5824.138     0.09
  Kuala Lumpur     1775.35       1772.48      0.16
 Ho Chi Minh       794.59        793.55       0.13
                                              
  Change so far                               
 this year                                    
  Market           Current       End 2016     Pct Move
  Singapore        3239.13       2880.76      12.44
  Bangkok          1625.29       1542.94      5.34
  Manila           8018.83       6840.64      17.22
  Jakarta          5829.272      5296.711     10.05
  Kuala Lumpur     1775.35       1641.73      8.14
 Ho Chi Minh       794.59        664.87       19.51
 

 (Reporting by Aditya Soni; Editing by Amrutha Gayathri)
  

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