SE Asia Stocks-Rise ahead of U.S. jobs data, Yellen's speech

viernes 3 de junio de 2016 01:23 GYT

By Justin George Varghese
    June 3 (Reuters) - Southeast Asian stocks rose in quiet
trade on Friday as investors awaited U.S. jobs data due out
later in the day for clues on an interest rate hike by the
Federal Reserve.
    Fed Chair Janet Yellen's speech on Monday would indicate
whether the central bank would raise rates at its policy-setting
meeting on June 14-15. 
    "There is quietness now in South East Asia stock markets
ahead of the data coming out today. Everybody is watching out
for the speech on Monday to derive positive signs from it," said
Joseph Roxas, an analyst with Manila-based Eagle Securities.
    Markets expect U.S. employment data due at 1230 GMT to show
a non-farm payroll increase of about 164,000 and 0.2 percent
rise in average wage earnings in May. 
    "However, for today, I feel markets are just consolidating
at the end of the week, with unsubstantial volumes, which may
have to do with stabilised oil prices," Roxas said.
    Brent oil prices held around $50 a barrel following an OPEC
meeting that failed to agree on output targets, but which was
seen as supportive as Saudi Arabia pledged not to flood the
market with more fuel. 
    Singapore's Straits Times Index was headed for a
second straight session of gains, with oil and gas stocks
leading the rise. Rig-builders Sembcorp Industries 
rose 1.4 percent, while Keppel Corp Ltd was up 1.3
    Indonesian shares rose 0.2 percent, helped by gains
in consumer cyclicals and energy stocks.
    "Expect to see muted investor activity ahead of U.S. jobs
data tonight," said Taye Shim, an analyst with Daewoo Securities
Indonesia, adding S&P's decision to hold the market's current
rating on Thursday had limited impact on equities.
    Malaysian stocks extended gains into a third
straight session, led by telecom services and financials.
    Sentiment was also boosted after data released earlier in
the day showed Malaysia's exports in April grew 1.6 percent from
a year earlier on higher shipments of manufactured goods and
palm oil. 
    Philippine stocks recovered from the previous
session's losses, while Thailand rose for a second
consecutive session.
For Asian Companies click;  

  Change at 0509                              
  Market          Current   Previous    Pct
                            Close       Move
  Singapore       2809.47   2795.09     0.51
  Bangkok         1429.35   1424.06     0.37
  Manila          7505.67   7464.59     0.55
  Jakarta         4843.783  4833.225    0.22
  Kuala Lumpur    1635.49   1630.53     0.30
  Ho Chi Minh     622.7     623.37      -0.11
 (Reporting by Justin George Varghese; Editing by Subhranshu