SE Asia Stocks-Indonesia hits 15-mth high on strong GDP data; Vietnam slides
By Shashwat Pradhan Aug 5 (Reuters) - Indonesian shares vaulted to 15-month highs on Friday, buoyed by upbeat GDP data, while Vietnam stocks slid more than 1 percent and were headed for their fifth session of falls in six, dragged down by financial stocks. Asian shares rose as risk sentiment improved after the Bank of England cut interest rates to next to nothing on Thursday and announced billions of pounds of stimulus to soften the economic shock from Britain's vote to leave the European Union. "I do not think we will hit any new highs. Rallies (in Southeast Asian markets) are not big. Most of the rate cut was really priced in. I think if they did not cut the rates, it would be down much, much more," said Joseph Roxas, an analyst with Manila-based Eagle Equities. An overnight rally in crude oil prices also sharpened risk appetite, while sterling nursed deep losses after sliding on news of the BoE stimulus plan. The Jakarta Composite Index rose as much as 1 percent to its highest since April 24, 2015, as data showed Indonesia's annual economic growth accelerated more than expected to 5.18 percent in the second quarter. Thai shares extended gains into a third straight session, aided by telecom and financial stocks. Advanced Info Service, Thailand's largest mobile phone operator, forecast on Thursday its 2016 revenue would be slightly better than 2015, saying the service revenue growth in the second half was expected to improve from the first half. Malaysian shares edged up, led by consumer and industrial stocks, while Vietnam slid as much as 1.1 percent to a more than one-month low, with financial stocks accounting for more than half of the losses. Vingroup, Vietnam's top property firm, fell as much as 4 percent to its lowest since June 24. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on 0335 GMT Market Current previous Pct Move close Singapore 2826.45 2831.96 -0.19 Bangkok 1519.65 1507.93 0.78 Manila 7972.98 7978.57 -0.07 Jakarta 5413.264 5373.863 0.73 Kuala Lumpur 1658.97 1655.29 0.22 Ho Chi Minh 628.65 631.94 -0.52 Change so far this year Market Current End prev yr Pct Move Singapore 2826.45 2882.73 -1.95 Bangkok 1519.65 1288.02 17.98 Manila 7972.98 6952.08 14.68 Jakarta 5413.264 4593.008 17.86 Kuala Lumpur 1658.97 1692.51 -1.98 Ho Chi Minh 628.65 579.03 8.57 (Reporting by Shashwat Pradhan; Editing by Subhranshu Sahu)
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