September 11, 2017 / 4:30 AM / 10 months ago

SE Asia Stocks-Edge up as N. Korea holds back on missile test

    By Chris Thomas
    Sept 11 (Reuters) - Southeast Asian stock markets ticked up
on Monday as investors heaved a sigh of relief after North Korea
held back on a missile test, with Vietnam hitting an over
9-1/2-year high.
    The United States and its allies had been bracing for
another long-range missile launch on Saturday, following
multiple such launches in recent weeks that heightened tensions
    "With North Korea seemingly holding back on its ICBM test
for now, there is a small degree of risk relief in market,
resulting in the paring of long positions in safe havens,"
Mizuho Bank said in a note. 
    Meanwhile, the dollar index, which tracks the U.S.
unit against a basket of six major currencies, edged up, after
skidding to a 2-1/2-year low on Friday.
    However, the dollar index is still down over 10 percent so
far this year.
    A weaker dollar increases the purchasing power of regional
currencies, underpinning stocks, said Taye Shim, head of
research at Mirae Asset Sekuritas.
    Singapore shares gained as much as 0.4 percent,
boosted by lenders and consumer staples stocks.
    Oversea-Chinese Banking Corp and DBS Group
 rose 1 percent and 0.6 percent, respectively, while
Thai Beverage climbed 2.2 percent, its biggest
intraday percentage gain in nearly seven weeks.
    Malaysian shares inched up 0.2 percent, supported by
a 1 percent gain in conglomerate Sime Darby Bhd, ahead
of the release of July data on industrial output, which is
expected to have expanded at its fastest pace in eight months.
    Thai shares rose 0.4 percent, heading for their
eighth straight session of gains, boosted by Airports of
Thailand, which gained as much as 2.7 percent to hit a
record high.
    Vietnam shares rose 0.5 percent to its highest since
February 2008, and were also headed for their eighth consecutive
session of gains.
For Asian Companies click;  

  Change on day                                           
  Market           Current       Previous Close  Pct Move
  Singapore        3235.59       3228.56         0.22
  Bangkok          1640.11       1635.61         0.28
  Manila           8047.19       8022.75         0.30
  Jakarta          5866.225      5857.119        0.16
  Kuala Lumpur     1782.62       1779.9          0.15
  Ho Chi Minh      804.59        801.2           0.42
  Change on year                                 
  Market           Current       End 2016        Pct Move
  Singapore        3235.59       2880.76         12.32
  Bangkok          1640.11       1542.94         6.30
  Manila           8047.19       6840.64         17.64
  Jakarta          5866.225      5296.711        10.75
  Kuala Lumpur     1782.62       1641.73         8.58
  Ho Chi Minh      804.59        664.87          21.01

 (Reporting by Chris Jacob Thomas in Bengaluru; Editing by
Amrutha Gayathri)
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