SE Asia Stocks-Most up after China rate cut, Thai Sept trade data
BANGKOK, Oct 26 (Reuters) - Southeast Asian stock markets mostly gained on Monday, with a China rate cut underpinning sentiment in Asia, while the Thai benchmark extended gains on day to a more than two-month high after September trade data came above expectations. The Thai SET index rose 1 percent to 1,430.81, on resuming trade after Friday's market holiday. The index rose at one point to 1,433.86, the highest level since Aug. 7. "SET could catch up with Friday's gains in external bourses. China's rate cut also boosted overall sentiment. All eyes are on the FOMC meeting Wednesday night, with expectations for the Fed to stand pat on rate," said broker Phillip Securities in a report. Data showed Thailand's September export data contracted 5.5 percent, better than forecasts by economists in a Reuters poll. Singapore shares were up 0.8 percent, Indonesia advanced 0.8 percent, the Philippines climbed about 2 percent and Vietnam added 0.3 percent. Bucking the trend, Malaysian shares eased 0.1 percent, reversing the modest gains on the previous trading day. Key factors in the region this week included quarterly earnings releases of Southeast Asian firms. In the Philippines, shares of BDO Unibank earlier hovered around a two-week high after it reported a net income rise in the Jan-Sept period. Singapore's Overseas-Chinese Banking Corp rose in early trade ahead of the earnings release expected later in the week. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0419 GMT Market Current Prev Close Pct Move Singapore 3094.04 3068.46 +0.83 Kuala Lumpur 1708.72 1710.93 -0.13 Bangkok 1430.81 1416.14 +1.04 Jakarta 4690.85 4653.15 +0.80 Manila 7372.78 7236.38 +1.88 Ho Chi Minh 603.39 601.74 +0.27 (Reporting by Viparat Jantraprap; Editing by Anand Basu)
© Thomson Reuters 2017 All rights reserved.