SE Asia Stocks-Higher on positive China econ data, Wall Street

miércoles 19 de octubre de 2016 00:39 GYT
 

By Rushil Dutta
    Oct 19 (Reuters) - Most Southeast Asian stock markets
extended gains into a second session on Wednesday, in line with
broader Asia, on Chinese economic data that confirmed the
economy had stabilised, even though worries about debt
prevailed.
    Sentiment was also buoyed by Wall Street advancing on solid
corporate earnings.  
    China's economy grew 6.7 percent in the third quarter from a
year earlier, steady from the previous quarter and in line with
market expectations, as increased government spending and a
property boom offset stubbornly weak exports. 
    The growth figures were in line with economists' forecast in
a Reuters poll.
    Investment in Chinese real estate picked pace in September
after edging higher in the previous month, highlighting the
persistence of investor demand. 
    "China data is a bit of a mixed bag. Though the headlines
said met expectations, there are some soft spots in the gain in
industrial production," said Vishnu Varathan, a senior economist
with Singapore-based Mizuho Corporate Bank.
    "To the extent that investments in China are holding up,
it's giving some of the China-focused markets a bit of a lift."
    Philippine shares rose 1.5 percent, with gains across
all sectors led by financials and consumer stocks.
    BDO Unibank Inc rose 3.2 percent to its highest in
a month, while property developer SM Prime Holdings 
added 2 percent.
    Philippine stocks began rallying on Tuesday on hopes that
President Rodrigo Duterte's foreign visits would create an
inflow of business. Duterte is in China this week. 
    Vietnam's main index extended gains and added 0.9
percent as financials and consumer stocks powered through.
    Joint Stock Commercial Bank for Foreign Trade of Viet Nam
, the biggest financial company by market
capitalisation, was 1.8 percent higher.
    Energy shares, 0.7 percent higher, benefited from higher oil
prices. 
    Thai shares were up 0.3 percent, while Singapore
 and Malaysia remained steady. Indonesia 
was the only market that fell with a 0.2 percent loss.
    
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 SOUTHEAST ASIAN STOCK MARKETS:
    
                                                  
 Change at 0412                           
 GMT                                      
  Market           Current     Previous   Pct Move
                               Close      
  Singapore        2832.77     2830.63    0.08
  Bangkok          1480.59     1477.54    0.21
  Manila           7687.3      7571.15    1.53
  Jakarta          5419.693    5430.048   -0.19
  Kuala Lumpur     1668.12     1667.57    0.03
  Ho Chi Minh      688.43      682.02     0.94
                                          
  Change on year                          
  Market           Current     End 2015   Pct Move
  Singapore        2832.77     2882.73    -1.73
  Bangkok          1480.59     1288.02    14.95
  Manila           7687.3      6952.08    10.58
  Jakarta          5419.693    4593.008   18.00
  Kuala Lumpur     1668.12     1692.51    -1.44
  Ho Chi Minh      688.43      579.03     18.89
 
 (Reporting by Rushil Dutta; Additional reporting by Susan
Mathew in Bengaluru; Editing by Gopakumar Warrier)