SE Asia Stocks-Most up; Singapore leads on upbeat industrial output data
BANGKOK, Feb 26 (Reuters) - Most Southeast Asian stock markets rose in line with Asia on Friday, with Singapore's key index climbing more than one percent amid better-than-forecast manufacturing output data for January while other major indexes reversed recent falls. Singapore's Straits Times Index was up 1.2 percent, capping losses so far in the week at 0.9 percent. Oil and gas firm Sembcorp Marine Ltd's shares led the gains after four days of losses amid oil price volatility. "There will be some bargain hunting today on the back of Wall Street's overnight rise but lacklustre earnings announcements so far, and some unexpected losses, will keep sentiment cautious," said broker NRA Capital in a report. Wall Street posted solid gains on Thursday as higher oil prices reduced fears that banks could be hit by debt defaults. Singapore's industrial production in January fell less than expected from a year earlier as output of pharmaceuticals and electronics swung to growth, data showed on Friday. Jakarta composite index advanced 1 percent, with shares of Bank Rakyat Indonesia and Astra International most actively traded, partly helped by foreign-led buying. Indonesia is set to end the week a tad 0.2 percent higher amid mixed regional performances. In Bangkok, the SET index trimmed some early gains, and was up 0.2 percent at 1,336.67 amid technical-led selling near a key resistance of 1,350. Philippine stocks fell on resuming trade after a holiday on Thursday. Vietnam staged a mild rebound of 0.2 percent. Asian shares made guarded gains as a gathering of world finance leaders provided a welter of reassuring comments, but little in the way of actual policy stimulus. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0503 GMT Market Current Prev Close Pct Move Singapore 2633.84 2603.40 +1.17 Kuala Lumpur 1662.35 1658.16 +0.25 Bangkok 1336.67 1333.42 +0.24 Jakarta 4705.74 4658.32 +1.02 Manila 6738.54 6769.26 -0.45 Ho Chi Minh 563.72 562.82 +0.16 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)
© Thomson Reuters 2017 All rights reserved.