SE Asia Stocks-End higher; Vietnam hits over 8-yr high
By Krishna V Kurup July 4 (Reuters) - Southeast Asian stocks rose on Monday, in line with broader Asian markets, while activity across much of the region was subdued due to a U.S. holiday. "As the Brexit shock dissipates, focus is likely to shift to central banks and data," Nomura analyst Mixo Das said in a note, adding that "easing biases" from major central banks were expected. Signs that the world's big central banks will give some respite have helped drive a recovery for stock markets after a bout of volatility following the Brexit vote. Investors are also awaiting a raft of data this week including the U.S. employment report due on Friday. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.8 percent at 0930 GMT, extending gains into a fifth straight session. Vietnam shares rose as much as 1.2 percent to their highest since March 2008, with local securities firms rising on expectation of higher liquidity in the market, after the country allowed investors to buy and sell the same stock within a day starting this month, analysts said. "The index has surpassed a strong resistance level convincingly," said Nguyen Thanh Lam, deputy research manager of Maybank Kim Eng Securities in Vietnam, adding the Purchasing Managers' Index data for June was quite good amid concerns over the macro economic situation. Foreign investors are still net buyers, and the index is expected to reach 670 points, Lam said. Singapore stocks edged up nearly 1 percent, led by consumer goods and industrials. Thai Beverage PCL rose 3.9 percent, while Singapore Technologies Engineering Ltd closed 1.9 percent higher. Singapore's manufacturing PMI data for June is expected to come out later in the day. Philippine shares closed marginally higher, led by industrials and financials. Ayala Corp rose 0.7 percent, while SM Prime Holdings Inc gained 1.6 percent. "Local markets may trade on weaker volume this week, as an expected holiday declaration (Eid) may dampen trading activity," Manila-based SB Equities said in a note. The Indonesian stock market will be closed from July 4 to 8 for end-of-Ramadan celebrations. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on day Market Current Prev close Pct Move Singapore 2870.56 2846.37 0.85 Bangkok 1454.56 1444.99 0.66 Manila 7846.54 7830.35 0.21 Kuala Lumpur 1654.84 1646.22 0.52 Ho Chi Minh 647.96 640.3 1.20 Change on year Market Current End 2015 Pct Move Singapore 2870.56 2882.73 -0.42 Bangkok 1454.56 1288.02 12.93 Manila 7846.54 6952.08 12.87 Kuala Lumpur 1654.84 1692.51 -2.23 Ho Chi Minh 647.96 579.03 11.90 (Reporting by Krishna V Kurup in Bengaluru; Additional reporting by Mai Nguyen from Hanoi; Editing by Subhranshu Sahu)
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