SE Asia Stocks-Rise on upbeat U.S. jobs data; Indonesia at over 1-yr high

lunes 11 de julio de 2016 00:44 GYT

By Rushil Dutta
    July 11 (Reuters) - Southeast Asian stock markets rose on
Monday, in line with Asian shares, as upbeat U.S. jobs data
mitigated concerns about the health of the world's largest
economy. Indonesian stocks led the gains, climbing to their
highest since June 2015.
    The U.S. economy added 287,000 jobs last month, the highest
total in eight months, smashing the consensus forecast of
    "A stronger jobs report more or less eschews heightened
concerns about the U.S. economy coming to a screeching halt,"
said Vishnu Varathan, a senior economist with Mizuho Corporate
Bank in Singapore.
    "There is therefore a common understanding that the Fed will
not rush into rate hikes and will watch quite a few data sets."
    The Jakarta Composite Index gained 2.1 percent, led
by telecoms and consumer staples.
    "After a long Eid holiday, the JCI is expected to trade
moderately higher today, following positive sentiment from both
the United States and Japan," said Dang Maulida, an analyst with
Jakarta-based Daewoo Securities. 
    "The JCI is expected to trade within 4,950-5,010 today."
    Telekomunikasi Indonesia and cigarette
manufacturer Gudang Garam were among the biggest
gainers, rising 5.8 percent and 6.6 percent, respectively.
    Philippine shares were 1.1 percent higher, led by
property developers and consumer cyclicals.
    SM Prime Holdings and Ayala Land gained
1.6 percent and 2.2 percent, respectively.
    Singapore's Straits Times index rose to its highest
in over two months, with consumer services and financials
leading the gains.
    Thailand and Malaysia gained 0.9 percent and 0.6 percent
respectively, while Vietnam remained flat.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 jumped 1.9 percent to a one-month top. 
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  STOCK MARKETS                                    
  Change at 0353                                   
  Market          Current     Previous   Pct Move
  Singapore       2873.33     2847.04    0.92
  Bangkok         1468.71     1455.65    0.90
  Manila          7856.07     7771.52    1.09
  Jakarta         5069.322    4971.581   1.97
  Kuala Lumpur    1654.36     1644.54    0.60
  Ho Chi Minh     658.54      658.68     -0.02
  Change on year                         
  Market          Current     End 2015   Pct Move
  Singapore       2873.33     2882.73    -0.33
  Bangkok         1468.71     1288.02    14.03
  Manila          7856.07     6952.08    13.00
  Jakarta         5069.322    4593.008   10.37
  Kuala Lumpur    1654.36     1692.51    -2.25
  Ho Chi Minh     658.54      579.03     13.73
 (Reporting by Rushil Dutta; Editing by Subhranshu Sahu)