June 7, 2018 / 4:23 AM / 5 months ago

SE Asia Stocks-Up; Indonesia hits over 6-week high

    * Asia Ex-Japan shares hit 2-1/2 month high
    * Malaysia top gainer
    * Vietnam on track for 6th straight session of gain

    By Mensholong Lepcha
    June 7 (Reuters) - Southeast Asian shares gained on
Thursday, in line with broader Asia, with Indonesia touching a
more than 6-week high and Malaysia extending gains for a second
straight session. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 rose 0.5 percent, its sixth straight session of
gains, to a two-and-a-half month high.
     The Malaysian index, up more than 1 percent at
1795.77 buoyed by financial stocks, was the top gainer in
Southeast Asia.
    CIMB Group Holdings gained as much as 2.4 percent
and Malayan Banking was up as much as 3.9 percent.
    "The 1795 level is very crucial for the KLSE. So if it
manages to go above the level firmly, then it may bring back a
positive vibe to the index," said a Malaysia-based analyst on
condition of anonymity.
     "A breach below this level (1795) signals a bearish tone."
     Malaysia's newly elected Prime Minister Mahathir Mohamad
accepted the central bank governor's resignation on Wednesday,
as part of a government shake-up in a string of top official
departures who were a part of the scandal-plagued previous
government. 
    Ratings agency Moody's said uncertainty over the smooth
functioning of monetary policy could rise if a central bank
governor was not appointed promptly.
    Across the Straits of Malacca, Indonesian shares
rose as much as 0.7 percent on broad-based buying with Bank
Negara Indonesia gaining as much as 1.5 percent and
Telkom Indonesia adding as much as 1 percent.
    An index of Indonesia's 45 most liquid stocks rose
nearly 0.6 percent. 
    Singapore shares added as much as 0.6 percent, led by
lenders. DBS Group Holdings rose as much as 1.5
percent while rival OCBC gained as much as 0.8
percent.
    Vietnam shares rose as much as 0.9 percent to a more
than two-week high and were on track for a sixth straight
session of gains.
    Real estate firm Vinhomes JSC hit an all-time high 
while food processor Masan Group rose nearly 5 percent.
    Philippines firmed up nearly 0.8 percent, its third
straight session of gains, boosted by financials.
    BDO Unibank, up as much as 2.1 percent, was the top
gainer.  
    Thai shares edged 0.2 percent higher, buttressed by
gains in the materials and financial sectors.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0350 GMT
  Change on the day                                      
  Market             Current       Previous     Pct Move
                                   close        
  Singapore          3474.48       3467.81      0.19
  Bangkok            1740.61       1738.7       0.11
  Manila             7731.4        7689.14      0.55
  Jakarta            6087.816      6069.713     0.30
  Kuala Lumpur       1795.97       1777.13      1.06
  Ho Chi Minh        1038.4        1034.5       0.38
                                                
  Change on year                                
  Market             Current       End 2017     Pct Move
  Singapore          3474.48       3402.92      2.10
  Bangkok            1740.61       1753.71      -0.75
  Manila             7731.4        8558.42      -9.66
  Jakarta            6087.816      6355.654     -4.21
  Kuala Lumpur       1795.97       1796.81      -0.05
  Ho Chi Minh        1038.4        984.24       5.50
 


 (Reporting by Mensholong Lepcha; Editing by Vyas Mohan)
  
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