SE Asia Stocks-Mostly up; Singapore index climbs to over four-month high

jueves 14 de abril de 2016 06:08 GYT

JAKARTA, April 14 (Reuters) - Southeast Asian stock markets
rose on Thursday, with the Singapore index extending its rally
after a surprise policy easing by the city-state's central bank.
    Singapore's Strait Times Index rose 0.8 percent to
its highest closing since Nov 24 with banking stocks boosting
the overall market.    
    The Monetary Authority of Singapore (MAS) unexpectedly eased
policy on Thursday after growth stalled in the first quarter and
as slackening global demand darkened the outlook for the
trade-dependent economy, sending the local dollar tumbling to
its worst loss in eight months. 
    Singapore's three heavyweight banks were the top gainers
with shares of United Overseas Bank Ltd rising 2.7
percent to close at their highest since Dec. 2, while
Overseas-Chinese Banking Corporation Ltd closed at its
highest in five weeks.     
    "On the one hand some currency weakness helps
competitiveness for exporters, but it will also likely put
upward pressure on domestic rates - bad for domestic consumption
and property, but potentially good for bank margins," said Mixo
Das, Nomura's Southeast Asia equity strategist. 
    "In addition, the policy move signals weaker economic
performance and discourages inward capital flows."     
    Philippine stocks rose 0.2 percent, while Vietnam
 rose 0.6 percent.
    Bucking the trend, Indonesia fell 0.8 percent ahead of trade
data announcement on Friday and the central bank's announcement
of change in policy rate.
    Indonesia's central bank will announce on Friday a change to
its benchmark policy rate, that is likely to result in the
seven-day reverse repo replacing the current reference rate.
    Thailand is closed for the Songkran Festival. 

For Asian Companies click;  

 Change on day
 Market        Current  Prev close  Pct move
 Singapore     2913.93     2890.41      0.81
 Kuala Lumpur  1723.78     1723.11      0.04
 Bangkok       1385.42     1369.64      1.15
 Jakarta       4814.85     4853.01     -0.79
 Manila        7357.28     7341.00      0.22
 Ho Chi Minh     581.4      578.02      0.58
 Change on year
 Market        Current   End 2015   Pct move
 Singapore     2913.93     2882.73      1.08
 Kuala Lumpur  1723.78     1692.51      1.85
 Bangkok       1385.42     1288.02      7.56
 Jakarta       4814.85    4593.008      4.83
 Manila        7357.28     6952.08      5.83
 Ho Chi Minh     581.4      579.03      0.41
 (Reporting by Fransiska Nangoy; Editing by Gopakumar Warrier)