SE Asia Stocks -Indonesia at 5-week high; Malaysia, Vietnam up
BANGKOK, Oct 6 (Reuters) - Southeast Asian stock markets rose in line with others in Asia on Tuesday, with the Indonesian benchmark touching a five-week high amid a rise in the rupiah and foreign inflows, while stocks in Malaysia and Vietnam gained after a Pacific trade deal. The Jakarta composite index was up 2.6 percent at 4,456.92, the highest since Sept. 1. The rupiah hit a one-month high amid expectations that the U.S. Federal Reserve may hold off on raising interest rates. Buying led by foreign investors lifted large caps and financials, sending shares of Astra International 11.3 percent higher. Astra jumped 4 percent on Monday after broker Citi upgraded the stock to 'buy', partly due to attractive valuation. Stocks in Vietnam hit a near seven-week high and Malaysia was at a more than two-week high after 12 Pacific Rim countries reached an agreement on the Trans-Pacific Partnership trade deal. In Bangkok, the SET index was up 0.3 percent, trimming early gains as banking stocks fell on weak earnings prospects. Banks are due to report their quarterly results later in the month. "Most banks are expected to show weak performances for the third quarter in both top line growth and asset quality," broker KGI Securities said in a report. Singapore shares hit a two-week high and the Philippine index rose for a second day after data showed annual inflation slowed for a seventh consecutive month in September, bolstering views interest rates will be left unchanged the rest of the year. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0625 GMT Market Current Prev Close Pct Move Singapore 2880.01 2851.25 +1.01 Kuala Lumpur 1661.95 1647.59 +0.87 Bangkok 1367.38 1363.17 +0.31 Jakarta 4456.91 4343.70 +2.61 Manila 7045.90 6961.93 +1.21 Ho Chi Minh 578.97 570.00 +1.57 ($1 = 14,230.0000 rupiah) (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)
© Thomson Reuters 2016 All rights reserved.