SE Asia Stocks -Up; Indonesia heads for best gain in 2 yrs on stimulus hopes

jueves 27 de agosto de 2015 02:11 GYT
 

BANGKOK, Aug 27 (Reuters) - Southeast Asian stock markets
rose on Thursday after U.S. and Chinese equities rebounded, with
stocks in Indonesia rallying ahead of a government stimulus
package and the Philippine index advancing after positive
economic data.
    Jakarta's composite index jumped 3.28 percent,
heading for its biggest single-day rise since September 2013.
Foreign investors bought recently-battered large-caps such as
Bank Rakyat Indonesia and Bank Negara Indonesia
.
    Indonesia on Thursday will unveil a policy package intended
to prop up the rupiah, which hit another fresh 17-year low, and
boost investment at a time when Southeast Asia's largest economy
faces its weakest growth in six years. 
    The Philippines' main index was up 2.2 percent, a
third day of gains this week. Data showed the Philippine economy
rebounded with a growth of 5.6 percent in the second quarter,
defying a regional slowdown. 
    Much of the regional share slide this week was due to
foreign outflows amid selloffs in Chinese stocks, stock exchange
data showed. 
    A sharp rebound on Wall Street and gains in battered Chinese
shares eased fears of a deep and protracted global market rout,
lifting Asian stocks on Thursday. 
    The Thai SET index was up 1.9 percent, after a drop
the day before. Consumer-related shares such as CP All
 and Kasikornbank outperformed on hopes
about the government's economic measures. 
    "Further institutional buying should be a major driver for
SET Index, especially on the domestic plays which benefit from
the stimulus packages, focused on low income earners," said
broker KGI Securities in a report.
    Singapore was up 2 percent, after a weak spell on
Wednesday. Malaysia and Vietnam were both on
track for a third straight gain, climbing 1 percent and 1.6
percent, respectively. 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0549 GMT 
 Market             Current     Prev Close    Pct Move
 Singapore          2928.99       2873.00       +1.95
 Kuala Lumpur       1596.70       1580.37       +1.03
 Bangkok            1345.30       1320.08       +1.91
 Jakarta            4376.52       4237.73       +3.28
 Manila             7019.63       6867.92       +2.21
 Ho Chi Minh         554.82        545.89       +1.64
 
 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)