SE Asia Stocks-Up after China's rate cut; Malaysia rises on factory output data

lunes 11 de mayo de 2015 01:07 GYT
 

BANGKOK, May 11 (Reuters) - Most Southeast Asian stock
markets rose on Monday, led by large caps, as China's interest
rate cuts to bolster the economy lifted sentiment in Asia, while
stocks in Malaysia headed for a second successive day of gains
after upbeat March factory output data.
    The Kuala Lumpur composite index, which measures
moves of 30 large caps, was up 0.2 percent, building on the
modest gain on Friday and further recovering from a more than
6-week low hit on Thursday.
    Shares of telecoms firm Axiata Group and CIMB
Group Holdings both climbed more than 1 percent, the
top two gainers on the benchmark.
    Malaysia's industrial production rose 6.9 percent
in March from a year earlier, better than market expectations,
data from the Statistics Department showed on Monday.
 
    Indonesia's index, Asia's third worst performing
index in 2015, edged up 0.1 percent. Indexes in Thailand
, Vietnam and Singapore eked out small
gains, with the Philippines slightly ad lower after early
rises.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was up 0.3 percent. 
    Investor sentiment got an initial lift from news of the rate
cut by China over the weekend and as U.S. stocks rallied after a
robust headline reading for U.S. employment.
    Singapore-based broker NRA Capital said market sentiment 
was not likely to be euphoric, citing a survey in Singapore
which has shown more companies were expecting business prospects
to worsen over the next six months.
    Brokers in Bangkok also expected limited market rises due to
concerns about a slowing domestic economy and after the central
bank recently unveiled measures to relax curbs on fund outflows.
 
    "Inflows to Thailand could be limited by more aggressive
signals to let the baht weaken further and also domestic
economic slowdown ahead of Thai Q1 2015 GDP release,"
strategists at broker KGI Securities wrote in a report.
    Recently oversold Thai banks were among actively traded,
including Kasikornbank and Bangkok Bank.
Indonesia's coal miners extended gains from Friday, led by Indo
Tambangraya Megah and Adro Energy.
     
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0453 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3466.91       3452.01       +0.43
 Kuala Lumpur       1811.06       1807.65       +0.19
 Bangkok            1515.06       1510.51       +0.29
 Jakarta            5188.22       5182.21       +0.11
 Manila             7750.22       7763.21       -0.17
 Ho Chi Minh         555.24        554.51       +0.13
 
 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)