SE Asia Stocks-Gain in line with Asia as U.S. jobs data disappoints
By Rushil Dutta June 6 (Reuters) - Southeast Asian stocks closed higher on Monday, in line with Asian peers, as discouraging U.S. jobs data diminished the possibility of a rate rise by the Federal Reserve in June. The Philippine index led the gains, rising to its highest in 10 months. U.S. nonfarm payrolls rose by just 38,000 last month, the smallest increase since September 2010 and well below the expected 164,000 jobs. Fed funds futures rates indicated that traders see only a 6 percent chance of a Fed hike this month, down from 21 percent as recently as Thursday, according to CME Group's FedWatch tool. A Reuters poll of Wall Street's top banks taken after the jobs figures showed that all of them expect the U.S. Federal Reserve to leave interest rates unchanged at its June 14-15 policy meeting. "I guess the consensus now, in the light of Friday's data, is that the Fed will not raise interest rates," said Joseph Roxas, an analyst with Manila-based Eagle Securities. "So, let the good times roll." Investors are also awaiting Fed chair Janet Yellen's speech at an event in Philadelphia later on Monday, her last official remarks ahead of the pre-meeting media blackout. Philippine stocks finished over 1 percent higher, led by financials and consumer cyclicals. Bank of the Philippine Islands and BDO Unibank were among the biggest gainers. Malaysian stocks rose 0.8 percent led by telecom and consumer staples shares. Telecommunications firm Axiata Group and broadcaster Astro Malaysia were the biggest gainers on the index. Thai shares edged up to a near 1-year high, led by telecom and financial stocks. The banking index rose 0.6 percent with Siam Commercial Bank and Kasikornbank PCL among the top gainers. Singapore and Indonesia rose, while Vietnam bucked the trend, to finish 0.3 percent lower. Asian shares rose on Monday, with the MSCI's broadest index of Asia-Pacific shares outside Japan rising 1.02 percent. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on day Market Current Previous Pct Move Close Singapore 2831.28 2809.23 0.78 Bangkok 1443.42 1436.43 0.49 Manila 7598.22 7514.22 1.12 Jakarta 4896.025 4853.922 0.87 Kuala Lumpur 1648.99 1636.46 0.77 Ho Chi Minh 620.05 621.88 -0.29 Change on year Market Current End 2015 Pct Move Singapore 2831.28 2882.73 -1.78 Bangkok 1443.42 1288.02 12.07 Manila 7598.22 6952.08 9.29 Jakarta 4896.025 4593.008 6.60 Kuala Lumpur 1648.99 1692.51 -2.57 Ho Chi Minh 620.05 579.03 7.08 (Reporting by Rushil Dutta in Bengaluru; Editing by Sunil Nair)
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