SE Asia Stocks-Most up after ECB easing; Philippines leads gains on week

viernes 11 de marzo de 2016 02:06 GYT
 

BANGKOK, March 11 (Reuters) - Most Southeast Asian stock
markets rose on Friday after the European Central Bank's policy
easing lifted sentiment in the region, with the Philippines
poised for its best week since late January and energy shares
outperforming.
    The Philippine composite index was up 0.7 percent at
its highest since Nov. 9, with First Gen Corp. and
Energy Development Corp. among the top gainers.
    The index is on track for a weekly gain of nearly 3 percent.
    The Thai benchmark SET index advanced 0.9 percent
moving close to the key 1,400 level, led by a 1.8 percent gain
in PTT.
    Broker Krungsri Securities in Bangkok said it expected
profit-taking near term.
    "The U.S. and European bourses did not respond positively to
the ECB's larger-than-expected stimulus package which raised
concerns the European economy might be worse than expected and
interest rates probably will not fall further," it said in a
report.
    European Central Bank chief Mario Draghi unleashed a bold
easing package on Thursday, cutting rates and expanding asset
buys, but undid the very stimulus he hoped to achieve by
suggesting there would be no further cuts. 
    Gains in other sharemarkets were relatively modest as
investors look forward to decisions of key global central banks
next week, including the U.S. Federal Reserve.
    Stocks in Malaysia traded up 0.2 percent after data
showed January industrial production rose a
better-than-expected 3.2 percent from a year earlier due to
growth in manufacturing, mining and electricity sectors.
 
    The region is set to end mixed on the week, with Singapore
among the decliners after its outperformance last week when
global risk appetite improved amid expectations the Fed may not
raise interest rates in a meeting mid-March.
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0540 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2822.76       2809.12       +0.49
 Kuala Lumpur       1694.45       1690.91       +0.21
 Bangkok            1391.55       1379.06       +0.91
 Jakarta            4788.59       4793.20       -0.10
 Manila             7099.44       7048.08       +0.73
 Ho Chi Minh         578.57        575.91       +0.46
 
 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)