SE Asia Stocks -Most up; Indonesian shares rise on hopes of Jokowi win
July 16 (Reuters) - Indonesian stocks rose on Wednesday, led by shares of large cap companies on hopes that Joko "Jokowi" Widodo would win the presidential poll and find a friendlier parliament that may help push through a reform agenda. Other Southeast Asian markets mostly gained after China reported economic growth that was just ahead of market expectations. The Jakarta Composite Index was up 1.2 percent by 0659 GMT, hovering around its highest since July 10, led by financials. Political newsflow on the real vote count continues to point toward Jokowi winning the election, analysts at broker Trimegah Securities wrote in a market strategy report. Gains were led by a 2 percent rise each in Bank Central Asia and Astra International. Shares in Kalbe Farma gained 3.8 percent. Optimism around a possible win for Jakarta Governor Jokowi, seen as more market friendly, had sent stocks to an over-13-month high on Thursday, the day after the election. On Tuesday, several members of Indonesia's second-largest political party said they were considering joining Jokowi's camp, which could lead to a friendlier parliament that would help push through a reform agenda in Southeast Asia's largest economy. Investors are returning to the market as the country's security condition has been quite stable after an election during which supporters of the two main candidates were expected to clash, said William Suryawijaya, an analyst with Jakarta-based Indosurya Securities. The Thai stock index was at a more than 13-month- high with analysts expecting further consolidation. Singapore shares were up 0.2 percent. Vietnam's benchmark VN Index was trading 0.7 percent up after a Chinese oil rig completed exploration on disputed waters and was being relocated, a move that could reduce ongoing tensions with Vietnam. Bucking the regional trend, Malaysia was down 0.05 percent. The Philippines stock market was closed on Wednesday after its capital shut down due to a typhoon. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0659 GMT Market Current Prev Close Pct Move TR SE Asia Index* 440.74 439.07 +0.38 Singapore 3297.93 3291.42 +0.20 Kuala Lumpur 1882.98 1884.87 -0.05 Bangkok 1533.97 1524.53 +0.62 Jakarta 5130.72 5070.82 +1.18 Manila -- 6834.04 -- Ho Chi Minh 593.20 589.31 +0.66 * The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. (Reporting by Shihar Aneez in Colombo and Fransiska Nangoy in Jakarta; Editing by Anupama Dwivedi)
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