SE Asia Stocks -Rise along with Asia; Indonesia leads

lunes 20 de octubre de 2014 00:52 GYT

BANGKOK, Oct 20 (Reuters) - Southeast Asian stocks rose on
Monday, with Indonesian shares hitting their highest in more
than two weeks amid expectations of a cut in fuel subsidy and
easing political tensions.
    Gains in the region were also supported by brighter
sentiment regarding global risk assets.
    Japanese stocks led a rally in Asia on Monday, after solid
U.S. data and earnings calmed tumult in global financial markets
and reassured investors worried about the health of the world
    Brokers in the region cited expectations about the U.S.
interest rates. 
    "Expectations grew for the U.S. Fed to maintain interest
rate at a low level until the second half of 2015 and while the
ECB pledged to begin its asset purchase soon, which could lead
to a relief rise after a week of sharp correction,"
Bangkok-based broker KGI Securities said.
    Among the outperformers, Indonesia's key index was
up 1.02 percent at 5,080.42 after hitting 5,101.21, the highest
since Oct. 2. Inflows lifted large caps with Bank Mandiri
 and Telkom Indonesia among the top actively
traded stocks.
    Former Jakarta Governor Joko Widodo was sworn in as
Indonesia's seventh president at a ceremony in parliament on
Monday. One of his first jobs will be cutting back generous fuel
subsidies to avoid breaching a legal limit on the budget
    The Thai SET index traded up 0.64 percent at
1,538.56. Shares of Kasikornbank jumped more than 3
percent and Bangkok Bank rose about 1 percent after
both of them reported better-than-expected July-September
    Stocks in Singapore and Malaysia extended
their gains for a second consecutive session, further recovering
from recent weakness due to concerns about the health of the
global economy.
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 Change at 0420 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3185.11       3167.73       +0.55
 Kuala Lumpur       1802.63       1788.31       +0.80
 Bangkok            1538.56       1528.71       +0.64
 Jakarta            5080.42       5028.95       +1.02
 Manila             7057.22       7003.22       +0.77
 Ho Chi Minh         589.94        585.28       +0.80
 (1 US dollar = 12,005.0000 rupiah)

 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)