SE Asia Stocks-Singapore posts biggest gain in three weeks
JAKARTA, Dec 7 (Reuters) - Southeast Asian stock markets closed mostly higher on Monday despite caution in the wider Asian market ahead of the release of key Chinese data on Tuesday and Wednesday, with the Singapore index posting its biggest gain in nearly three weeks on higher bank shares. Singapore's FTSE Straits Times Index closed 0.8 percent higher, its best single-day percentage gain since Nov. 19, boosted by big banks. Shares of DBS Group Holdings Ltd rose 0.8 percent, while Oversea-Chinese Banking Corp Ltd climbed 0.9 percent. Utilities company Sembcorp Industries Ltd rose 1.6 percent after the company said its unit had signed an agreement to develop the largest independent gas-fired plant in Myanmar. Indonesia's main stock index closed up 0.3 percent, ending three days of losses when it had slipped a cumulative 1.1 percent. Shares gained after the Indonesian government said it was 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 labour-intensive companies such as textiles and cigarette firms, broker Trimegah Securities said in a note. The Malaysian stock index was up 0.25 percent, while the Philippines extended its decline to a fourth day with a 0.15 percent loss on Monday. Vietnam stocks were down 1.4 percent. Thailand's markets were closed for a public holiday on Monday and will reopen Tuesday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 2900.92 2879.05 +0.76 Kuala Lumpur 1672.00 1667.87 +0.25 Bangkok -- 1333.57 -- Jakarta 4521.39 4508.452 +0.29 Manila 6911.86 6921.93 -0.15 Ho Chi Minh 563.62 571.62 -1.40 Change on year Market Current End 2014 Pct Move Singapore 2900.92 3365.15 -13.8 Kuala Lumpur 1672.00 1761.25 -5.07 Bangkok -- 1497.67 -- Jakarta 4521.39 5226.95 -13.5 Manila 6911.86 7230.57 -3.50 Ho Chi Minh 563.62 545.63 +3.30 (Reporting by Fransiska Nangoy; Editing by Biju Dwarakanath)
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