SE Asia Stocks-Singapore rises to over 7-week high, Noble Group shares up
BANGKOK, Nov 10 (Reuters) - Southeast Asian stock markets mostly edged higher on Monday as investors selectively bought shares in a reporting season while Singapore's key index hit a more than 7-week high, with shares of Noble Group leading the pack. Singapore's Straits Times Index was up 0.7 percent at 3,308.13, climbing at one point to 3,312.68, the highest since Sept. 19. Noble Group shares earlier jumped 7.5 percent after third quarter net profit hit a 2-year high. The announcement of a special dividend payout also helped boost Noble Group shares. A report that the Shanghai-Hong Kong stock exchanges link was set to open on Nov. 17 set a positive tone for the Singapore stock market, broker NRA Capital said in a report. "For many, it's a great arbitrage opportunity between the two stock markets," said the broker in a report. "Positive vibes also helped Singapore shares rise on selective gains," it said. Asian shares rose after U.S. jobs data pointed to solid economic growth. Hong Kong led gains in Asia after regulators set a date for the long-awaited trading link between the Hong Kong and Shanghai stock exchanges. Malaysia's main index was up 0.3 percent after five straight sessions of losses of almost 1 percent. The Philippines' main index was a tad higher and Vietnam extended gains for a third session, adding 0.7 percent. Thai SET index and Jakarta's composite index both fell, giving up early gains. Shares of Thai top energy firm PTT dropped 2.7 percent, reflecting declining global oil prices. Shares of canned tuna exporter Thai Union Frozen bucked the trend, climbing 2.2 percent, with broker KT Zmico predicting a core earnings growth of 86 percent year-on-year in the third quarter due to growth in tuna businesses. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0554 GMT Market Current Prev Close Pct Move Singapore 3308.13 3286.39 +0.66 Kuala Lumpur 1829.89 1824.19 +0.31 Bangkok 1570.38 1578.37 -0.51 Jakarta 4980.96 4987.42 -0.13 Manila 7208.45 7205.72 +0.04 Ho Chi Minh 606.49 602.59 +0.65 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)
© Thomson Reuters 2016 All rights reserved.