SE Asia Stocks-Mostly up; Singapore posts biggest gain in 2 months

miércoles 13 de abril de 2016 06:21 GYT
 

JAKARTA, April 13 (Reuters) - Most Southeast Asian stock
markets rose on Wednesday, led by Singapore which posted its
biggest single-day gain in two months, as positive China trade
data and firm oil prices helped sentiment.
    Singapore's Straits Times Index jumped 2.7 percent to
its highest since March 23, as shares of oil rig builders
rallied following a big jump in oil prices a day before.
    Shares of offshore rig company Sembcorp Marine Ltd 
led the rally with a 17 percent surge, their biggest percentage
gain in more than seven years. Rival Keppel Corporation Ltd
 rose as much as 5 percent.    
    "Oil continued to climb up above $40 a barrel while Japanese
yen reversed from the strengthening trend," said Taye Shim, an
analyst at KDB Daewoo Securities Indonesia.
    Oil futures were hit by profit-taking on Wednesday on
concerns that a producer meeting, planned for Sunday in Doha to
discuss an output freeze, will do little to trim oversupply and
a strengthening dollar. 
    Sentiment was also boosted by China's trade performance,
which blew past expectations in March, providing more evidence
of stabilisation in the world's second-largest economy.
 
    In Indonesia, the main stock index gained 0.5
percent. Bahana Securities said in a note on Wednesday that the
Indonesia Stock Exchange is considering shortening the
settlement period to two days from the current three days,
citing a local media report. 
    Stocks in Malaysia ended three days of losses to
gain 0.5 percent, while Philippine shares also rose 0.5
percent. Bucking the trend, Vietnam stocks were down 0.3
percent.
    The Thai market is closed for the Songkran Festival.
    
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SOUTHEAST ASIAN STOCK MARKETS
   
 Change on day
 Market          Current    Prev close  Pct move
 Singapore         2890.41     2814.65       2.69
 Kuala Lumpur      1723.11     1715.00       0.47
 Jakarta           4853.01     4829.57       0.49
 Manila               7341     7306.56       0.47
 Ho Chi Minh        578.02      579.84      -0.31
                                                 
 Change on year
 Market          Current     End 2015   Pct move
 Singapore         2890.41     2882.73       0.27
 Kuala Lumpur      1723.11     1692.51       1.81
 Bangkok           1385.42     1288.02       7.56
 Jakarta           4853.01     4593.01       5.66
 Manila               7341     6952.08       5.59
 Ho Chi Minh        578.02      579.03      -0.17
                                                 
    

 (Reporting by Fransiska Nangoy; Editing by Biju Dwarakanath)