SE Asia Stocks-Vietnam rallies; Malaysia up on positive industrial data

jueves 11 de agosto de 2016 06:27 GYT
 

By Hanna Paul
    Aug 11 (Reuters) - Vietnam shares rallied on
Thursday, outperforming the region to post their fourth
consecutive session of gains, as jumps in large-cap companies
buoyed up sentiment, while Malaysian stocks hit a
more-than-three-month high on positive industrial production
data. 
    Big sell-offs in Vietnam in the past few weeks, driven
mostly by margin selling, has been followed by re-focussing of
buyers into a handful of stocks, said Fiachra MacCana, head of
research, Ho Chi Minh Securities.
    Financials and consumer staples drove gains on the Vietnam
bourse. Dairy producer Vinamilk, Vietnam's
biggest-listed firm by market value, rose 3.05 percent, while
the country's biggest lender by market capitalisation
Vietcombank gained 4.6 percent. 
    "The money is returning to the basic stocks and large caps
accompanied by increased trading volume," BIDV Securities
Company said in a note.      
    "However, given the lower-than-average volumes, very narrow
focus of buying, lack of resolution in some ongoing
stock-specific governance issues, and the still rather high
margin lending balances, we expect this rally to be fairly
short-lived," added MacCana.
    Malaysian stocks gained 0.34 percent to its highest
close since April 27, fuelled by the country's June industrial
production data. 
    Factory output rose 5.3 percent from a year earlier, due to
strength in the mining, manufacturing, and electricity sectors,
government data showed. 
    Malaysia's second-quarter gross domestic product figures are
expected on Friday. 
    Thai shares inched higher as the country's central
bank international reserves rose to $182.5 billion. 
    The central bank and finance ministry have predicted higher
growth in the second quarter compared with the first. 
 
    Philippine shares slipped 0.8 percent for the second
consecutive session, dragged down by financial stocks, such as
GT Capital Holdings Inc and investment holding
company Metro Pacific Investments Corp.
    The Philippine central bank left its benchmark interest rate
at 3 percent, lowered its forecasts for 2016 and 2017 average
inflation. 
    Singapore and Indonesia closed marginally
down.

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SOUTHEAST ASIAN STOCK MARKETS 
 STOCK MARKETS                                      
 Change on day                                      
 Market                   Current   previous close  Pct Move
 Singapore                2869.82   2875.57         -0.20
 Bangkok                  1551.29   1548.13         0.20
 Manila                   7981.35   8051.4          -0.87
 Jakarta                  5419.088  5423.949        -0.09
 Kuala Lumpur             1678.8    1673.03         0.34
 Ho Chi Minh              660.24    648.33          1.84
                                                    
 Change on year                                     
 Market                   Current   End prev yr     Pct Move
 Singapore                2869.82   2882.73         -0.45
 Bangkok                  1551.29   1288.02         20.44
 Manila                   7981.35   6952.08         14.81
 Jakarta                  5419.088  4593.008        17.99
 Kuala Lumpur             1678.8    1692.51         -0.81
 Ho Chi Minh              660.24    579.03          14.03
 

 (Reporting by Hanna Paul in Bengaluru; Editing by Sherry
Jacob-Phillips)