SE Asia Stocks-Most up; tax amnesty talks help Indonesian market up
JAKARTA, April 6 (Reuters) - Most Southeast Asian stock markets rose on Wednesday, as renewed optimism over implementation of a tax amnesty plan buoyed Indonesian stocks, while a rise in oil prices helped other markets in the region. Indonesia's Jakarta Composite Index rose 0.3 percent as government pledged to scrutinise taxpayers named in the data leaked from a Panamanian law firm as part of efforts to chase their offshore undeclared assets. "We believe the government will leverage the momentum to implement its tax amnesty agenda," KDB Daewoo Securities Indonesia wrote in a note on Wednesday. A much-anticipated tax amnesty bill is expected to be discussed soon in the Indonesian parliament, which would allow special purpose vehicles to declare or repatriate money stashed overseas. Meanwhile, Singapore's Straits Times Index gained 0.5 percent, recovering some of its losses after posting its biggest one-day decline in four weeks in the previous session, as oil prices rose. Crude oil futures jumped on Wednesday, lifted by growing expectations that exporters will agree to freeze their output amid global oversupply. The Malaysian market edged up 0.02 percent, while Vietnam was up 0.4 percent. Bucking the trend, the Philippines was down 0.6 percent. Thailand's market is closed on Wednesday for a public holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change 0438 GMT Market Current Prev close Pct move Singapore 2815.64 2800.92 0.53 Kuala Lumpur 1718.49 1718.08 0.02 Jakarta 4872.094 4858.07 0.29 Manila 7179.35 7219.23 -0.55 Ho Chi Minh 562.3 560.32 0.35 (Reporting by Fransiska Nangoy; Editing by Anand Basu)
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