CORRECTED-SE Asia Stocks-Higher as soft Chinese inflation data spurs hopes of stimulus
(Removes all references to Singapore stock exchange as it was closed on account of market holiday) By Anusha Ravindranath Aug 9 (Reuters) - Most Southeast Asian stocks closed higher on Tuesday, as China's consumer inflation eased in July, with sentiment across the region up on hopes of further policy easing if needed in the world's second largest economy. China's consumer price index rose 1.8 percent in July from a year earlier, in line with analysts' expectations, compared with a 1.9 percent increase in June and matching this year's low hit in January. Low inflation means Beijing has room to loosen monetary policy if needed, but policymakers appear to have disparate views over how much stimulus is needed to stoke economic growth, if any, and what form it should take. "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. The Philippine index ended 0.8 percent higher, as investors welcomed a bunch of positive corporate earnings. Ayala Land, one of the top gainers on the index, rose more than 2 percent after reporting strong half-yearly results. "I think here in Philippines, the movement is more focussed on the corporate earnings this week," said Grace Aller of AP Securities in Manila. Thai shares closed up 0.4 percent, extending a rally into a fifth straight session and hitting a 15-month closing high. Energy and telecom stocks led the gainers. Thai Oil PCL rose 4 percent, after booking a higher quarterly profit on Monday. Vietnam shares closed more than 1 pct higher, helped by a rally in the energy sector. Petrovietnam Gas Joint Stock Corp was up 1.7 pct. Indonesia closed marginally lower, while Malaysia was little changed. Asian shares rose, with MSCI's broadest index of Asia-Pacific shares outside Japan up 0.1 percent. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on day Market Current Previous Pct Move close Bangkok 1548.21 1542.26 0.39 Manila 8055.06 7993.58 0.77 Jakarta 5440.293 5458.979 -0.34 Kuala Lumpur 1671.71 1672.68 -0.06 Ho Chi Minh 572.74 572.27 1.25 Change so far Market Current End 2015 Pct Move Bangkok 1548.21 1288.02 20.20 Manila 8055.06 6952.08 15.87 Jakarta 5440.293 4593.008 18.45 Kuala Lumpur 1671.71 1692.51 -1.23 Ho Chi Minh 572.74 579.03 -1.09 (Reporting by Anusha Ravindranath in Bengaluru; Editing by Biju Dwarakanath)
© Thomson Reuters 2016 All rights reserved.