SE Asia Stocks-Indonesian shares rebound on bargain hunting, US data
HANOI, Oct 6 (Reuters) - The Indonesian stock market rose on Monday from a three-month low, lifted by buying in large-cap stocks amid positive global sentiment, while Vietnam gained on inflows into property and energy shares. The Jakarta Composite Index rose 1.03 percent as investors picked up shares beaten on Friday by concerns that President-elect Joko Widodo may not be able to muster enough support in parliament to push through badly needed reforms. The gains in Southeast Asia's third biggest stock market also harmonised with the global markets, as stronger-than-expected U.S. jobs data eased concerns about global growth. "The regional markets were lifted by positive global sentiment, so was Indonesia," said Lanang Trihardian, an analyst with Syailendra Capital in Jakarta. Bank Rakyat Indonesia (Perserco) Tbk PT led the rebound among blue-chips, the main losers last week, climbing 4.99 percent from a more than three-month low hit in the previous session, Reuters data showed. Indonesia's central bank governor said on Monday the bank was prepared to carry out "measured intervention" to keep the rupiah in a healthy range, while the finance minister said the impact of political conditions on currency trading is short-term. But the policy makers' comments had little impact on the market and only "somewhat gave some calmness" to investors in general, analyst Lanang said. Vietnam's benchmark VN Index advanced 0.47 percent on Monday to 614.42, the highest in more than two weeks, led by gains in top property developer Vingroup after it said it would buy parts of a supermarket chain. Hanoi-based Vingroup agreed to buy 70 percent of Ocean Retail Co, a subsidiary of the Ocean Group, it said in a filing late last Friday, but did not disclose the deal value. Vingroup shares rose 2 percent, while Ocean Group climbed 3.05 percent to close at the highest level in more than six months, Reuters data showed. Oil and gas shares also attracted funds. Petrovietnam Drilling & Well Services Corp, a subsidiary of state-owned Petrovietnam, gained 2 percent. Thailand's SET Index bucked the regional trend, falling 1.73 percent after the royal palace said King Bhumibol Adulyadej had undergone surgery to remove his gallbladder. The number of stocks losing ground was five times that of the gainers on the Thai Stock Exchange, while volume nearly halved to 13.77 billion shares, Reuters data showed. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at close Market Current Prev Close Pct Move TR SE Asia Index* 426.06 428.10 -0.48 Singapore 3253.24 3228.71 +0.76 Kuala Lumpur 1840.82 1837.68 +0.17 Bangkok 1543.13 1570.28 -1.73 Jakarta 5000.14 4949.35 +1.03 Manila 7247.03 7196.26 +0.71 Ho Chi Minh 614.42 611.55 +0.47 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 426.06 388.37 +9.70 Singapore 3253.24 3167.43 +2.71 Kuala Lumpur 1840.82 1866.96 -1.40 Bangkok 1543.13 1298.71 +18.82 Jakarta 5000.14 4274.18 +16.98 Manila 7247.03 5889.83 +23.04 Ho Chi Minh 614.42 504.63 +21.76 * The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. (Reporting by Mai Nguyen in Hanoi and Fransiska Nangoy in Jakarta; Editing by Anupama Dwivedi)
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