March 29, 2017 / 10:30 AM / a year ago

SE Asia Stocks-Indonesia hits record high, Singapore near 20-month peak

    By Sindhu Chandrasekaran
    March 29 (Reuters) - Indonesian stocks hit a record high on
Wednesday while Singapore shares climbed to their highest in
nearly 20 months as data showing strong U.S. consumer confidence
boosted sentiment in export-reliant Asian economies.
    U.S. consumer confidence surged to a more than 16-year high
in March, government data showed on Tuesday, while the goods
trade deficit narrowed sharply in February, indicating the
economy was regaining momentum after faltering at the start of
the year.
    The regional markets were responding positively to the
strong U.S. consumer sentiment, said April Lee-Tan, head of
research at COL Financial Group, adding that they would benefit
from upbeat U.S. consumers by boosting exports.
    Indonesian shares closed about 1 percent higher,
coming off Monday's losses, on the back of gains in financial
and material stocks. PT Bank Danamon Indonesia Tbk
ended 4.2 percent higher, while PT Semen Baturaja (Persero) Tbk
 surged 10.1 percent. The market was closed on Tuesday
for a holiday.
    Singapore shares rose for a second straight session
and closed at their highest since August 2015. Financials
accounted for nearly half the gains with DBS Group Holdings
 climbing 1.4 percent.
    Oil prices extended gains despite industry data showing an
increase in U.S. crude inventories, lifted by supply disruptions
in Libya and views that an OPEC-led output reduction is likely
to be extended.
    Vietnam shares closed marginally higher, posting
their fourth session of gains in five. Vietnam's economy grew at
its slowest pace in three years in the first quarter, government
data showed, as production was weak in agriculture, mining and
    Thai stocks ended largely flat. Thailand's central
bank raised its forecasts for 2017 economic growth and exports
while leaving the key interest rate where it has been for nearly
two years.
    Malaysian shares shed 0.2 percent with consumer
staples weighing on the index.
For Asian Companies click;  

 Change on the day                                
 Market                   Current     previous   Pct Move
 Singapore                3184.57     3157.82    0.85
 Bangkok                  1574.97     1576.72    -0.11
 Manila                   7324        7331.46    -0.10
 Jakarta                  5592.51     5541.202   0.93
 Kuala Lumpur             1750.41     1754.42    -0.23
 Ho Chi Minh              720.47      719.26     0.17
 Change on year                                   
 Market                   Current     End 2016   Pct Move
 Singapore                3184.57     2880.76    10.55
 Bangkok                  1574.97     1542.94    2.08
 Manila                   7324        6840.64    7.1
 Jakarta                  5592.51     5296.711   5.58
 Kuala Lumpur             1750.41     1641.73    6.62
 Ho Chi Minh              720.47      664.87     8.4
 (Reporting by Sindhu Chandrasekaran; Editing by Subhranshu
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