May 16, 2016 / 5:16 AM / 2 years ago

SE Asia Stocks-Thailand recovers on strong GDP growth; Malaysia extends losses

May 16 (Reuters) - Thai shares bounced back from the
previous session's losses to trade higher on Monday after
quarterly GDP data and corporate earnings came broadly in line
with market expectations, while other Southeast Asian stock
markets were mixed.
    Thailand's main stock index was 0.2 percent higher
at 0512 GMT, driven by energy & utilities and banking sectors,
after the country's economy grew faster than expected in the
first quarter, boosted by stronger government spending and
    "Stocks are trading at fair value and, therefore, we do not
expect a high upside to today's trading," said an analyst with
Phillip Securities (Thailand).
    Siam Cement Pcl rose 1.24 percent, PTT Pcl 
gained 2.3 percent and Siam Commercial Bank Pcl added
1.2 percent.
    Asian stocks eked out modest gains as buoyant Japanese
equities helped offset some of the gloom from Chinese data.
    China's investment, factory output and retail sales all grew
slower than expected in April, adding to doubts about whether
the world's second-largest economy is stabilising. 
    Meanwhile, Malaysian stocks extended losses, led by
energy and basic materials sectors. Oilfield services provider
SapuraKencana Petroleum was the biggest loser with a
drop of 0.6 percent.  
    Data released on Friday showed Malaysia's economy expanded
4.2 percent in January-March compared with a year earlier, its
slowest growth for a quarter since 2009 as exports and domestic
demand were weak. 
    Vietnam shares were headed for their first gain in
three sessions, with property shares and energy stocks leading
the gains, after better-than-expected trade surplus data for
For Asian Companies click;  

  STOCK MARKETS                                        
  Change on day                                        
  Market           Current       Previous     Pct Move
  Singapore        2733.97       2734.91      -0.03
  Bangkok          1397.95       1394.69      0.23
  Manila           7499.44       7436.79      0.84
  Jakarta          4733.116      4761.715     -0.60
  Kuala Lumpur     1615.9        1628.26      -0.76
  Ho Chi Minh      612.73        610.82       0.31
  Change on year                              
  Market           Current       End 2015     Pct Move
  Singapore        2733.68       2882.73      -5.17
  Bangkok          1398.14       1288.02      8.55
  Manila           7499.44       6952.08      7.87
  Jakarta          4733.116      4593.008     3.05
  Kuala Lumpur     1615.9        1692.51      -4.53
  Ho Chi Minh      612.73        579.03       5.82

 (Reporting by Rushil Dutta in Bengaluru; Editing by Subhranshu
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