SE Asia Stocks-Rise as Brexit worries ease

lunes 20 de junio de 2016 00:39 GYT
 

By Anusha Ravindranath
    June 20 (Reuters) - Most Southeast Asian stock markets rose
on Monday, in line with their Asian peers on easing Brexit
concerns after several opinion polls indicated an increasing
possibility of Britain opting to remain in the European Union in
a referendum later this week.
    Three opinion polls ahead of Thursday's vote showed the
'Remain' camp recovering some momentum, although the overall
picture remained one of an evenly split electorate. 
    "Perception is that the British public is likely to vote in
favour of remaining in the EU. If that is the case, it would
remove the overhang of risk in the markets," said Nirgunan
Tiruchelvam, an analyst with Religare Capital Markets, in
Singapore.
    There were fears that a "no" vote would be disruptive to the
markets and that seems to have dissipated, he added.
    Sentiment was also boosted as oil prices rose due to a
weaker dollar and easing worries over Britain's possible exit
from the EU. 
    Singapore shares outperformed other markets in Southeast
Asia, with oil and gas stocks leading the gains. The Straits
Times Index rose over 1 percent to a more than one-week
high. Keppel Corp rose 1.7 percent, while Sembcorp
Marine Ltd gained 2.6 percent. 
    Philippine shares were headed for their fourth
session of gains, driven by consumer cyclicals. Jollibee Foods
Corp and SM Investments Corp were among the top
performers.
    "We are nearing our presidential inauguration. Things are
looking more positive for the Philippines. There is a lot of
hope in the incoming president," said Joseph Roxas, an analyst
with Eagle Equities.
    Philippines President-elect Rodrigo Duterte, who swept to
victory in a May 9 election, would take over officially on June
30.   
    Vietnam shares traded in positive territory, as
energy stocks such as Petrovietnam Gas Joint Stock Corp 
rose, while Indonesia traded slightly lower. 
    Asian stocks rose in early trade, with MSCI's broadest index
of Asia-Pacific shares outside Japan rising 1
percent. 
           
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SOUTHEAST ASIAN STOCK MARKETS
  STOCK MARKETS                                        
 Change on the                                         
 day                                          
  Market           Current       Previous     Pct Move
                                 Close        
  Singapore        2795.05       2763.42      1.14
  Bangkok          1422.24       1421.32      0.06
  Manila           7654.75       7622.07      0.43
  Jakarta          4833.69       4835.143     -0.07
  Kuala Lumpur     1719.66       1718.36      0.57
 Ho Chi Minh       621.5         619.25       0.40
                                              
  Change so far                               
 this year                                    
  Market           Current       End 2015     Pct Move
  Singapore        2795.05       2882.73      -3.04
  Bangkok          1422.24       1288.02      10.42
  Manila           7654.75       6952.08      10.11
  Jakarta          4833.69       4593.008     5.24
  Kuala Lumpur     1719.66       1692.51      1.60
 Ho Chi Minh       621.5         579.03       7.33
 


 (Reporting by Anusha Ravindranath in Bengaluru; Editing by
Subhranshu Sahu)