SE Asia Stocks-Mostly up; Tax stimulus boosts Indonesian stocks

lunes 7 de diciembre de 2015 01:48 GYT

JAKARTA, Dec 7 (Reuters) - Southeast Asian stock markets
were mostly trading higher on Monday tracking gains in Asia,
with the Indonesian index set for its best day in a week
following a government tax stimulus.
    Singapore's stock index was 0.8 percent higher, while
Malaysian stocks rose 0.4 percent, rebounding from a 0.9
percent loss last week.
    Asian share markets rose on Monday after Wall Street
welcomed an upbeat U.S. jobs report that suggested the world's
biggest economy was well placed to handle an expected first
increase in interest rates in almost a decade. 
    Jakarta's composite index rose 0.8 percent, set for
its biggest gain in a week after the Indonesian government said
it is offering another tax break for employers in
labour-intensive sectors, in its latest stimulus measure to
boost the economy.   
    The move should "give some short-term positive momentum" to
companies like cigarette maker PT Gudang Garam Tbk and
bread maker PT Nippon Indosari Corpindo Tbk, broker
Trimegah Securities said in a note.
    Shares of Gudang Garam rose 1.3 percent, while Nippon
Indosari climbed 1.2 percent.
    The Thai stock market is closed for a public holiday
and will reopen on Tuesday.
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 Change on 0526 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2902.92       2879.05       +0.83
 Kuala Lumpur       1674.35       1667.87       +0.39
 Bangkok              --          1333.57         -- 
 Jakarta            4546.54       4508.45       +0.84
 Manila             6939.64       6921.93       +0.26
 Ho Chi Minh         567.71        571.62       -0.68
 (Reporting by Fransiska Nangoy; Editing by Sunil Nair)