SE Asia Stocks-Mostly up amid Asian rally; Singapore shares rise to 2-wk high
JAKARTA, April 13 (Reuters) - Most Southeast Asian stock markets rose on Wednesday, led by Singapore, as positive China trade data and firm oil prices helped sentiment in Asia. Singapore's Straits Times Index jumped 1.6 percent to its highest since March 30, while Malaysia's main stock index gained 0.3 percent, snapping three days of losses. Shares of offshore rig company Sembcorp Marine Ltd led the rally in Singapore with a 10.3 percent surge, their biggest intra-day gain since Jan. 19. In Malaysia, shares of oil and gas company Sapurakencana Petroleum Bhd were among the biggest gainers, with a 1.6 percent rise. "Oil continued to climb up above $40 barrel while Japanese yen reversed from the strengthening trend," noted analyst Taye Shim of KDB Daewoo Securities Indonesia. All eyes would be on China's March trade data, he said, adding that this would be the country's first export growth since June 2015. China's trade performance blew past expectations in March, providing more evidence of stabilisation in the world's second-largest economy. Oil futures gave up some of Tuesday's gains on profit-taking and as concerns over a larger-than-expected build in U.S. crude stocks outweighed a report that Russia and Saudi Arabia had reached consensus on an oil output cap. In Indonesia, the main stock index gained 0.1 percent, while Philippine shares rose 0.2 percent. Bucking the trend, Vietnam stocks were down 0.2 percent. The Thai market is closed for the Songkran Festival. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change 0450 GMT Market Current Prev close Pct move Singapore 2860.84 2814.65 1.64 Kuala Lumpur 1720.59 1715 0.33 Jakarta 4835.71 4829.57 0.13 Manila 7322.74 7306.56 0.22 Ho Chi Minh 578.61 579.84 -0.21 (Reporting by Fransiska Nangoy; Editing by Anupama Dwivedi)
© Thomson Reuters 2016 All rights reserved.