SE Asia Stocks -Most rebound; banks lead Thai index gains
BANGKOK, Sept 8 (Reuters) - Most Southeast Asian stock markets rebounded on Tuesday as Germany's upbeat trade data lifted global market sentiment while banking shares outperformed in Thailand after the cabinet approved a new round of measures to help small businesses. The Thai SET index gained 0.6 percent, with late buying sending shares of Krung Thai Bank more than 2 percent higher, while large-cap banks such as Bangkok Bank and Kasikornbank fell as they traded ex-dividend. State-run Krung Thai Bank is expected to directly benefit from bailout measures approved by the cabinet for small and medium-sized businesses, according to broker Maybank Kim Eng Securities. The military government on Tuesday approved a new round of economic measures worth 206 billion baht ($5.7 billion) to help small businesses, as the ruling junta seeks to revive flagging economic growth. Most markets recouped early losses and ended recent losing streaks. The regional upswing was led by a 1.2 percent gain in Singapore's key Straits Times Index while Vietnam's key index jumped 2.2 percent to a near two-week closing high. Shares rose in Europe and Asia on Tuesday after trade data from China and Germany highlighted the divergent outlooks of the two heavyweight economies. German exports and imports hit record highs in value terms in July, suggesting foreign appetite for goods from Europe's largest economy remains robust despite a slowdown in China, while domestic demand is also holding up well. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 2885.32 2852.41 +1.15 Kuala Lumpur 1587.12 1582.85 +0.27 Bangkok 1379.32 1371.40 +0.58 Jakarta 4318.59 4301.37 +0.40 Manila 6891.30 6926.82 -0.51 Ho Chi Minh 566.72 554.93 +2.12 Change on year Market Current End 2014 Pct Move Singapore 2885.32 3365.15 -14.26 Kuala Lumpur 1587.12 1761.25 -9.89 Bangkok 1379.32 1497.67 -7.90 Jakarta 4318.59 5226.95 -17.38 Manila 6891.30 7230.57 -4.69 Ho Chi Minh 566.72 545.63 +3.87 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)
© Thomson Reuters 2016 All rights reserved.