SE Asia Stocks-Most recover; U.S. economic data, Wall Street help

jueves 3 de septiembre de 2015 03:07 GYT

Sept 3 (Reuters) - Most Southeast Asian stock markets
recovered from recent losses on Thursday in cautious buying
following overnight gains on Wall Street and positive U.S.
economic data, with concerns about slowing economic growth in
China capping gains.
    Singapore traded 0.7 percent firmer after posting a
one-week closing low on Wednesday, while Malaysia rose
0.8 percent. Indonesia's Jakarta Composite Index 
recovered from a one-week low hit in the previous session and
was trading 0.5 percent higher. 
    Thailand rose as much as 1 percent to its highest
since Aug. 18, while the Philippine index gained 0.4
    "Wall Street had a positive day overnight but the jury is
still out whether this is sustainable given the recent swings.
The Fed's fairly positive Beige Book report and ADP's firm
payroll numbers added to the sentiment," Singapore-based Net
Research Asia said in an investor note.
    On Wednesday, U.S payroll processor ADP reported that
private payrolls increased 190,000 last month. While that was
below economists' expectations for a gain of 201,000 jobs, it
was a step up from the 177,000 positions created in July.
    The U.S. Federal Reserve said on Wednesday labour markets
were tight enough to fuel small wage gains in some professions
in recent weeks, though some companies already were feeling a
chill from an economic slowdown in China. 
    Chinese markets were closed for a holiday, which also calmed
the markets. 
    Bucking the trend, Vietnam's benchmark VN Index fell
1.4 percent, on track for its third straight decline, with most
blue chips losing ground.
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 Change at 0642 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2897.36       2878.13       +0.67
 Kuala Lumpur       1602.64       1590.19       +0.78
 Bangkok            1382.06       1372.45       +0.70
 Jakarta            4423.33       4401.29       +0.50
 Manila             7097.28       7072.46       +0.35
 Ho Chi Minh         554.73        562.31       -1.35
 (Reporting by Shihar Aneez; Editing by Subhranshu Sahu)