June 2, 2016 / 5:21 AM / 2 years ago

SE Asia Stocks-Thailand rises on c.bank rate decision; Philippines extends gains

By Justin George Varghese
    June 2 (Reuters) - Southeast Asian stocks rose on Thursday,
with Thailand leading the gainers after its central bank kept
the key policy rate steady, while Philippine shares climbed for
a second day helped by financials.
    Asian shares however eased after surveys showed global
manufacturing activity and demand remain weak. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 struggled to keep its head above water after
rising more than 3 percent over the last seven days. 
    Global manufacturing activity remained stuck in a rut last
month with factory output from Asia, Europe and the Americas
barely improving after factory surveys over the past 24 hours
highlighted a sluggish global economy. 
    "Although data was mixed yesterday, in general, the positive
U.S manufacturing data is more or less what is driving markets
right now," said Alex Tiu, an analyst with Manila-based AB
Capital Securities Inc.
    U.S. manufacturing grew for a third straight month in May,
but factories appeared to be taking in fewer deliveries from
their suppliers, which could hamper production in the months
    "I think investors will remain skittish ahead of the Friday
non-farm employment data and will be looking out for possible
cues from it on Fed rate hike timings," Tiu added.
    U.S. non-farm payrolls data due later on Friday is expected
to show the economy created 164,000 jobs in May. 
    Thailand recovered from losses in the previous
session, led by financials after the Bank of Thailand left its
policy interest rate unchanged at 1.50 percent
since April 2015. 
    Bank of Ayudhya PCL climbed 1.4 percent and
Kasikornbank PCL rose as much as 0.6 percent. 
    Philippine stocks edged up, with BDO Unibank Inc
 rising 1.4 percent, while Bank of the Philippine
Islands gained 0.5 percent.
    Shares in Singapore and Malaysia rose, while
Vietnam was flat. 
For Asian Companies click;  


  STOCK MARKETS                              
  Change at 0458                             
  Market           Current   Previous  Pct
                             Close     Move
  Singapore        2796.56   2790.54   0.20
  Bangkok          1424.83   1415.76   0.62
  Manila           7532.53   7500.79   0.42
  Jakarta          4845.413  4839.668  0.12
  Kuala Lumpur     1631.56   1626.5    0.31
  Ho Chi Minh      620.22    619.86    0.06
  Change on year                       
  Market          Current   End 2015   Pct
  Singapore       2796.56   2882.73    -2.99
  Bangkok         1424.83   1288.02    10.62
  Manila          7532.53   6952.08    8.35
  Jakarta         4845.413  4593.008   5.50
  Kuala Lumpur    1631.56   1692.51    -3.60
  Ho Chi Minh     620.22    579.03     7.11

 (Reporting by Justin George Varghese in BENGALURU; Editing by
Biju Dwarakanath)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below