SE Asia Stocks-Mostly up on positive U.S. markets
JAKARTA, Nov 6 (Reuters) - Most Southeast Asian stock markets advanced Thursday after key U.S. indexes closed at record highs Wednesday and on expectation of a monetary easing in Europe. The Philippines stock index led the region, rebounding from a two-day decline, with a 0.4 percent gain. "Eyes will be on the ECB policy meeting today to see whether it will announce more monetary easing after the euro zone economy remains weak," Phillip Securities said in a note on Thursday. Advances in US equities overnight also helped lift sentiment, said Muhamad Alfatih, an analyst with Samuel Sekuritas in Jakarta. The Dow Jones Industrial Average and the S&P 500 Index both rose 0.6 percent, led by gains in energy and financial shares, following the Republican Party's election victory and solid U.S. economic data. Thailand rose 0.2 percent, with the country's energy company PTT PCl rising to its highest in more than three years, as the company expected to benefit from the government's plan to raise fuel prices. Stocks in Jakarta were 0.1 percent lower on Thursday, extending its decline for the second day following the country's 5.01 percent GDP growth in the third quarter, its lowest since 2009. "Economic data was rather disappointing, but the index decline is limited because there are hopes that the fuel subsidy cut will be done soon and reallocated to infrastructure development," said Alfatih of Samuel Sekuritas. President Joko Widodo, who assumed office about two weeks ago, is expected to announce a fuel subsidy cut soon. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on 0555 Market Current Prev Close Pct Move Singapore 3293.74 3287.54 +0.18 Kuala Lumpur 1835.95 1839.29 -0.18 Bangkok 1580.89 1577.40 +0.22 Jakarta 5062.72 5066.83 -0.08 Manila 7243.11 7208.81 +0.48 Ho Chi Minh 599.62 597.01 +0.44 (Reporting by Fransiska Nangoy; Editing by Biju Dwarakanath)
© Thomson Reuters 2016 All rights reserved.