SE Asia Stocks-Most up; Singapore rebounds on property stocks
JAKARTA, April 4 (Reuters) - Most Southeast Asian stock markets rose on Monday, in line with other Asian indexes after better-then-expected U.S. payroll data underpinned investor risk sentiment. Singapore's Strait Times Index rose 0.7 percent, rebounding from a 0.8 percent fall on Friday, when it closed at its lowest level since March 10. Property developers in Singapore were the biggest gainers, with City Developments Ltd rising 2.3 percent and Wing Tai Holdings adding 0.6 percent. Singapore home prices fell at a lower-than-expected rate, indicating resilience in the property market, broker Maybank Kim Eng said in a note. A recent reversal in interest rates should also support property prices, the broker added. Manufacturing data from the U.S. helped eased concerns about slump in the global manufacturing activity. "Employment remains the strongest and more resilient pillar of the U.S. economic recovery ... Still, the report is unlikely to be a game changer and the Fed will most likely wait for further evidence that the economy is on a solid path of growth before thinking about raising rates again," BIMB Securities said in a note. Malaysia and the Philippines each gained 0.5 percent. Indonesia's composite index posted a small 0.1 percent gain amid expectation of a fall in inflation as the government lowered fuel price this month. Bucking the trend, Thailand's SET Index and Vietnam index both fell 0.1 percent each. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change 0530 GMT Market Current Prev close Pct move Singapore 2836.94 2818.49 0.65 Kuala Lumpur 1719.23 1710.55 0.51 Bangkok 1400.02 1400.72 -0.05 Jakarta 4849.146 4843.186 0.12 Manila 7281.31 7245.13 0.50 Ho Chi Minh 557.66 558.43 -0.14 (Reporting by Fransiska Nangoy; Editing by Anand Basu)
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