SE Asia Stocks-Most higher; Singapore leads gains on the week

viernes 4 de marzo de 2016 02:50 GYT

BANGKOK, March 4 (Reuters) - Most Southeast Asian stock
markets tracked Asia higher on Friday, with stocks in Singapore
extending rally along with a rise in the city-state's dollar
while Malaysian stocks trimmed some early gains after an
unexpected fall in exports in January.
    The key Straits Times Index traded up 1.5 percent,
its sixth straight day of gains, to the highest since Jan. 6. It
is heading for a nearly 7 percent gain on the week, Southeast
Asia's best performer.
    The Singapore dollar rose to its firmest in four
months versus the U.S. dollar on reduced expectations the
Federal Reserve would raise interest rates soon. 
    Kuala Lumpur composite index was slightly up 0.4
percent. Investors appeared turning cautious after early data
showed January exports unexpectedly fell for the first time in
eight months, reflecting weak oil shipments. 
    The index is poised for about 2 percent rise on the week.
Most other sharemarkets in the region are on track for a
positive week after relatively downbeat performances a week
    In Bangkok, some profit taking weighed on the key SET index
 which traded in an overbought zone, with its 14-day
Relative Strength Index well above 70.
    Continued gains in global markets and commodity prices as
concerns over global growth abated could keep the market high
up, said strategists at broker Asia Wealth Securities in a
    "Markets players hope the upcoming U.S. non-farm payrolls
data point to solid job gains but not strong enough for rate
hikes in the near term," they wrote. 
    Stocks in Vietnam posted modest gains, with Indonesia
 and the Philippines both drifting into negative
    Asian shares looked set on Friday to post their strongest
week in five months as global investors returned to risk assets
after a string of positive U.S. economic data and a bounce in
oil and commodity prices. 

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 Change at 0559 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2828.81       2787.62       +1.48
 Kuala Lumpur       1694.89       1688.20       +0.40
 Bangkok            1383.74       1379.33       +0.32
 Jakarta            4807.75       4844.04       -0.75
 Manila             6931.45       6963.44       -0.46
 Ho Chi Minh         573.33        570.39       +0.52
 (Reporting by Viparat Jantraprap; Editing by Gopakumar Warrier)