April 18, 2017 / 10:19 AM / a year ago

SE Asia Stocks-Most gain as investors look past N.Korea tensions

    By Rushil Dutta
    April 18 (Reuters) - Most Southeast Asian stock markets
ended higher on Tuesday, recovering from recent losses, as
investors moved past tensions over North Korea and looked for
local triggers.
    Indonesian shares rose 0.5 percent as financials
such as Bank Rakyat Indonesia and Bank Mandiri
 posted gains of 3.6 percent and 1.1 percent,
    Geopolitical concerns had overshadowed higher-than-expected
March exports in the previous session, causing the Jakarta SE
Composite index to fall 0.7 percent.
    The trade data could be one of the catalysts for the
positive sentiment in the market, Arief Budiman of Jakarta-based
Ciptadana Securities said.
    Investors, however, will be watchful of the second round of
Jakarta gubernatorial elections on April 19 which sees the
incumbent Christian governor of Jakarta, Basuki "Ahok" Tjahaja
Purnama, and his Muslim opponent neck and neck in the race to
lead Indonesia's capital.
    "While likely a local event, a loss for incumbent governor
Ahok may prove negative for the market sentiment," Nomura said
in a note.
    The election campaign - which has been among the most
divisive in the city's history - has been marred by religious
and ethnic tensions over the blasphemy trial of Purnama, who is
accused of insulting Islam.
    Malaysian shares rose for a second straight session,
propelled by consumer shares.
    Genting Bhd was the best performer on the index.
Bank services provider CIMB Group Holdings was also
among the biggest gainers.
    Vietnam shares snapped a four-day losing streak to
add 0.6 percent, reversing losses earlier in the session.
    Singapore's Straits Times index wiped off paltry
gains recorded earlier to close marginally lower as oil and gas
stocks took a hit from lower oil prices, with oil rig builder
Keppel Corp losing 0.4 percent.    
    Weaker oil weighed on Thai energy stocks as well, with oil
and gas majors PTT PCL and Thai Oil PCL off
0.3 percent and 0.7 percent, respectively.
    Thai shares ended a shade lower.
For Asian Companies click;  

 Change on day                                      
 Market                   Current   Previous Close  Pct Move
 Singapore                3137.54   3138.3          -0.02
 Bangkok                  1574.42   1575.91         -0.09
 Manila                   7588.98   7588.53         0.01
 Jakarta                  5606.517  5577.487        0.52
 Kuala Lumpur             1740.6    1733.93         0.38
 Ho Chi Minh              714.93    710.83          0.58
 Change on year                                     
 Market                   Current   End 2016        Pct Move
 Singapore                3137.54   2880.76         8.91
 Bangkok                  1574.42   1542.94         2.04
 Manila                   7588.98   6840.64         10.99
 Jakarta                  5606.517  5296.711        5.85
 Kuala Lumpur             1740.6    1641.73         6.02
 Ho Chi Minh              714.93    664.87          7.50
 (Reporting by Rushil Dutta; Additional reporting by Anusha
Ravindranath in Bengaluru; Editing by Amrutha Gayathri)
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