April 6, 2016 / 5:11 AM / 2 years ago

SE Asia Stocks-Most up; tax amnesty talks help Indonesian market up

JAKARTA, April 6 (Reuters) - Most Southeast Asian stock
markets rose on Wednesday, as renewed optimism over
implementation of a tax amnesty plan buoyed Indonesian stocks,
while a rise in oil prices helped other markets in the region.
    Indonesia's Jakarta Composite Index rose 0.3 percent
as government pledged to scrutinise taxpayers named in the data
leaked from a Panamanian law firm as part of efforts to chase
their offshore undeclared assets. 
    "We believe the government will leverage the momentum to
implement its tax amnesty agenda," KDB Daewoo Securities
Indonesia wrote in a note on Wednesday.
    A much-anticipated tax amnesty bill is expected to be
discussed soon in the Indonesian parliament, which would allow
special purpose vehicles to declare or repatriate money stashed
    Meanwhile, Singapore's Straits Times Index gained 0.5
percent, recovering some of its losses after posting its biggest
one-day decline in four weeks in the previous session, as oil
prices rose.
    Crude oil futures jumped on Wednesday, lifted by growing
expectations that exporters will agree to freeze their output
amid global oversupply. 
    The Malaysian market edged up 0.02 percent, while
Vietnam was up 0.4 percent.
    Bucking the trend, the Philippines was down 0.6
percent. Thailand's market is closed on Wednesday for a
public holiday.
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 Change 0438 GMT
 Market              Current  Prev close     Pct move
 Singapore           2815.64     2800.92         0.53
 Kuala Lumpur        1718.49     1718.08         0.02
 Jakarta            4872.094     4858.07         0.29
 Manila              7179.35     7219.23        -0.55
 Ho Chi Minh           562.3      560.32         0.35
 (Reporting by Fransiska Nangoy; Editing by Anand Basu)
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