October 4, 2016 / 5:37 AM / 2 years ago

SE Asia Stocks-Upbeat; Indonesia hits 1-1/2 year high

By Anusha Ravindranath
    Oct 4 (Reuters) - Southeast Asian stock markets were upbeat
on Tuesday with Indonesia climbing to its highest in nearly
one-and-a-half year, while Malaysia clocked its biggest intraday
percentage gain in two-and-a-half months.
    The Jakarta Composite Index rose for a second
straight session, boosted by gains in basic materials and energy
    "Recent developments on the domestic side have been very
positive, given that we have had an encouraging tax amnesty
progress and strong capital inflows," said Taye Shim, an analyst
with Jakarta-based Daewoo Securities, adding that Standard and
Poor's might upgrade its rating for Indonesia. 
    "The key ingredient for a possible rating upgrade could be
better government spending and declining deficit situation due
to the encouraging progress of tax collection."
    S&P had warned on Monday that emerging markets are likely to
see more sovereign downgrades than upgrades for the next year or
    A report from the Strait Times said Indonesia's tax amnesty
scheme achieved 90 per cent of its 4,000 trillion rupiah 
($308.05 billion) target in just three months. 
    Asian shares also pushed higher, with investor sentiment
buoyed by an overnight rally in crude prices, while an upbeat
U.S. manufacturing survey eased concerns about the health of the
world's largest economy.  
    Malaysian shares jumped to their highest since Sept.
30, led by gains in healthcare, consumer cyclical and energy
    Vietnam shares were higher after two straight
sessions of falls, while Singapore rose for a second
consecutive day as consumer goods and industrial stocks gained
    Data from a private survey showed late on Monday that
activity at Singapore's factories expanded in September for the
first time in 15 months as new orders rose. 
    Thai stocks touched their highest in more than one
week, supported by gains in consumer non-cyclical and energy
sectors, while Philippine stocks posted a second straight
session of gains.
For Asian Companies click;  

  STOCK MARKETS                                        
 Change at 525                                         
  Market           Current       previous     Pct Move
  Singapore        2876.26       2870.84      0.19
  Bangkok          1498.24       1490.94      0.49
  Manila           7369.68       7687.71      0.13
  Jakarta          5465.035      5463.915     0.02
  Kuala Lumpur     1663.7        1652.55      0.67
  Ho Chi Minh      687.61        683.05       0.67
 Change so far                                
 this year                                    
  Market           Current       End prev yr  Pct Move
  Singapore        2876.26       2882.73      -0.22
  Bangkok          1498.24       1288.02      16.32
  Manila           7369.68       6952.08      6.01
  Jakarta          5465.035      4593.008     18.99
  Kuala Lumpur     1663.7        1692.51      -1.70
  Ho Chi Minh      687.61        579.03       18.75
($1 = 12,985.0000 rupiah)

 (Reporting by Anusha Ravindranath in Bengaluru; Editing by
Subhranshu Sahu)
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