Reuters logo
SE Asia Stocks-Thailand, Vietnam rise in line with broader Asia
September 1, 2017 / 4:20 AM / 20 days ago

SE Asia Stocks-Thailand, Vietnam rise in line with broader Asia

    By Chandini Monnappa
    Sept 1 (Reuters) - Thai and Vietnam shares climbed on Friday
following Asian equities and Wall Street as lukewarm U.S. data
boosted expectations that the Federal Reserve will hold off from
increasing interest rates again this year.
    U.S. July consumer spending rose slightly less than
expected, while annual inflation advanced at its slowest pace
since late 2015.
    "Both Thai and Asia have a positive outlook today following
the lower-than-expected U.S. inflation figures we got last night
which lower the chance for the Federal Reserve to raise interest
rate in December," said Rakpong Chaisuparakul, a strategist with
KGI Securities (Thailand).
    Investors now turn their focus to the monthly U.S. jobs
report, due later in the day, to determine the strength of the
labour market and for cues on the Fed's next move on interest
rates.
    Thai shares were headed for a second straight
session of gains with mobile operator Advanced Info Service
 up 1 percent and petroleum and gas company PTT PCL
 0.8 percent higher.
    "Thai stocks continue to see positive momentum on the GDP
update, following the strong second-quarter numbers as you may
recall," Rakpong said.
    Thailand's finance ministry said last week it may upgrade
its 2017 economic growth forecast from 3.6 percent, due to a
strong first half and an expected increase in government
spending, after the economy grew at its fastest clip in over
four years in the second quarter.
    On Thursday, central bank indexes showed that Thailand's
private consumption and private investment in July rose from the
previous month, indicating economic recovery was gaining more
traction.
    Thailand is also expected to report annual CPI data later in
the day. A Reuters poll showed that the annual headline
inflation rate may have increased slightly in August to 0.38
percent.
    Vietnam shares were headed for a third straight
session of gains with the rise being broad based.
    Consumer stocks led the gains with Vietnam Dairy Products
JSC rising as much as 1.8 percent to its highest in
three weeks.
    Singapore, Malaysia, Indonesia and
Philippine markets were closed on Friday for local
holidays.

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change at 0340 GMT
  Change on day                                             
  Market              Current     previous close    Pct Move
  Bangkok             1621.36     1616.16           0.32
  Ho Chi Minh         786.91      782.76            0.53
                                                    
  Change on year                                    
  Market              Current     End 2016          Pct Move
  Bangkok             1621.36     1542.94           5.08
  Ho Chi Minh         786.91      664.87            18.40
 
 (Reporting by Chandini Monnappa in Bengaluru; Editing by
Subhranshu Sahu)
  

Our Standards:The Thomson Reuters Trust Principles.
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