April 14, 2016 / 4:56 AM / 2 years ago

SE Asia Stocks-Mostly up; Singapore index climbs to over four-month high

JAKARTA, April 14 (Reuters) - Southeast Asian stock markets
rose on Thursday, with the Singapore index extending its rally
after a surprise policy easing by its central bank.
    Singapore's Strait Times Index rose as much as 1.2
percent to touch its highest since Nov. 25, led by banking
    The Monetary Authority of Singapore (MAS) unexpectedly eased
policy on Thursday after growth stalled in the first quarter and
as slackening global demand darkened the outlook for the
trade-dependent economy, sending the local dollar tumbling to
its worst loss in eight months.     
    "On the one hand some currency weakness helps
competitiveness for exporters, but it will also likely put
upward pressure on domestic rates - bad for domestic consumption
and property, but potentially good for bank margins," said Mixo
Das, Nomura's Southeast Asia equity strategist. 
    "In addition, the policy move signals weaker economic
performance and discourages inward capital flows." 
    Singapore's United Overseas Bank Ltd rose 2.3
percent, while Overseas-Chinese Banking Corporation Ltd
 gained 1.5 percent.
    Philippine stocks rose 0.4 percent, while Indonesian
stocks eased 0.2 percent after having touched their
highest in a week earlier in the day. 
    Thailand is closed for the Songkran Festival. 

For Asian Companies click;  

 Change 0437 GMT
 Market           Current   Prev close  Pct move
 Singapore         2920.18     2890.41       1.03
 Kuala Lumpur      1722.89     1723.11      -0.01
 Jakarta           4846.52     4853.01      -0.13
 Manila            7372.98     7341.00       0.44
 Ho Chi Minh        583.69      578.02       0.98
 (Reporting by Fransiska Nangoy; Editing by Sunil Nair)
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