SE Asia Stocks-Largely up as Brexit fears ease
By Anusha Ravindranath June 17 (Reuters) - Most Southeast Asian stocks traded higher on Friday, tracking gains in Asian peers as Brexit fears ebbed after campaigning for the referendum next week was halted following the murder of a pro-EU British lawmaker. Jo Cox, 41, a lawmaker for the opposition Labour Party and a vocal advocate for Britain remaining in the European Union, was shot dead in the street on Thursday, causing deep shock across Britain and the suspension of campaigning for the June 23 referendum on the country's EU membership. "Event risks around Brexit seem to have subsided thus giving a bit of automatic lift to the equity markets," said Vishnu Varathan, a senior economist with Singapore-based Mizuho Bank Ltd. "Oil prices are rising in tandem with the bit of the risk aversion or some of the caution coming off." Philippine shares outperformed other markets in Southeast Asia, with consumer cyclicals leading the gains. The Philippine stock index rose more than 1 percent, heading for its third session of gains. Shares of SM Investments Corp rose 1.92 percent, while those of Jollibee Foods Corp increased 2.14 percent. Singapore shares were trading marginally higher, with oil and gas stocks including Keppel Corp Ltd among leading performers. Crude oil prices rose in early Asian trade for the first time in seven sessions after a small decline in stockpiles at the U.S. Cushing hub, while commodities across the board also posted gains. Bucking the trend, Vietnam shares fell for a second straight session, led by real estate and insurance stocks. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.6 percent. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on the day Market Current Prev Close Pct Move Singapore 2754.02 2751.56 0.09 Bangkok 1413.16 1411.19 0.14 Manila 7638.54 7564.47 0.98 Jakarta 4812.367 4814.391 -0.04 Kuala Lumpur 1620.06 1614.9 0.32 Ho Chi Minh 623.8 625.11 -0.21 Change so far this year Market Current End 2015 Pct Move Singapore 2754.02 2882.73 -4.46 Bangkok 1413.16 1288.02 9.72 Manila 7638.54 6952.08 9.87 Jakarta 4812.367 4593.008 4.78 Kuala Lumpur 1620.06 1692.51 -4.28 Ho Chi Minh 623.8 579.03 7.73 (Reporting by Anusha Ravindranath in Bengaluru; Editing by Subhranshu Sahu)
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