CORRECTED-SE Asia Stocks-Higher on benign Chinese inflation data

martes 9 de agosto de 2016 11:21 GYT

(Removes all references to Singapore stock exchange as it was
closed on account of market holiday)
    By Anusha Ravindranath
    Aug 9 (Reuters) - Southeast Asian stocks were largely up on
Tuesday as China's consumer inflation eased in July, lifting
broader sentiment across the region on hopes of further policy
easing if needed in the world's second largest economy.
    China's consumer price index (CPI) rose 1.8 percent in July
from a year earlier, in line with analysts' expectations.
    Consumer inflation has remained well below China's official
target of around 3 percent in 2016, despite concerns that severe
summer flooding, which has disrupted public infrastructure and
agricultural production, would increase inflationary pressures.
    "The lower Chinese inflation data gives investors something
to look forward to in terms of further policy easing," said
Victor Felix of AB Capital Securities Inc in Manila. 
     Last week, China's top economic planner called for the
central bank to cut interest rates and bank reserve
requirements, but later removed the remarks in an updated
statement posted on its website.    
    Indonesian stocks hit its highest since April 2015
before slipping marginally on positive momentum from a
government tax amnesty programme that is expected to boost the
corporate bond market. 
    Thai shares extended a rally into a fifth straight session,
hitting a 15-month high as energy stocks gained. Thai Oil PCL
 rose 2 pct after booking a higher quarterly profit on
    The Philippine index hit a 1-week high after a bunch
of corporate earnings boosted sentiment. Petron Corp,
the top gainer on the index, reported strong half-yearly results
on Monday. 
    "I think here in Philippines, the movement is more focussed
on the corporate earnings this week," said Grace Aller of AP
Securities in Manila. Lower Chinese inflation has also boosted 
sentiment, she added.  
    Vietnam shares rose more than 1 pct, helped by a
rally in the energy sector on gains of nearly 3 percent
overnight in global crude oil prices. Petrovietnam Gas Joint
Stock Corp was up 1.7 pct.
    Crude prices however edged lower on Tuesday on continued
worries over a global oil glut and as investors took profits on
Tuesday's gains. 
    Malaysia drifted lower, dragged down by consumer
non-cyclicals, with British American Tobacco (Malaysia) Berhad
 among the top losers.
    Asian shares gained, with MSCI's broadest index of
Asia-Pacific shares outside Japan up 0.1
percent, having already risen for three sessions in a row.

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  STOCK MARKETS                                        
 Change at 0424                                        
  Market           Current       Previous     Pct Move
  Bangkok          1546.45       1542.26      0.27
  Manila           8049.16       7993.58      0.70
  Jakarta          5445.954      5458.979     -0.24
  Kuala Lumpur     1669.65       1672.68      -0.18
  Ho Chi Minh      572.74        572.27       1.18
 Change so far                                
  Market           Current       End 2015     Pct Move
  Bangkok          1546.45       1288.02      20.06
  Manila           8049.16       6952.08      15.78
  Jakarta          5445.954      4593.008     18.57
  Kuala Lumpur     1669.65       1692.51      -1.35
  Ho Chi Minh      572.74        579.03       -1.09

 (Reporting by Anusha Ravindranath in Bengaluru; Editing by Biju