June 8, 2016 / 10:32 AM / 2 years ago

SE Asia Stocks-Largely up; Philippines pares gains to close slightly up

By Krishna V Kurup
    June 8 (Reuters) - Most Southeast Asian stocks rose on
Wednesday, with Singapore and Vietnam extending gains while the
Philippine market pared earlier strength to close marginally
    "Regional markets are moving today more as a reaction from
the last few days' strength, primarily due to the U.S. Federal
Reserve's guidance on not raising interest rates (soon), as this
will in turn help funds flow back to these markets," said
Charles Ang, an analyst with Manila-based COL Financial Inc.
    Markets in Southeast Asia will move higher in the coming
days as liquidity seems to be flowing back, Ang said, adding
that China's trade data would impact these markets to a certain
    China's exports fell more than expected in May as global
demand remained stubbornly weak, but imports beat forecasts,
pointing to improving domestic demand and adding to hopes that
the world's second-largest economy may be slowly
    Singapore's Straits Times Index extended gains into a
fifth consecutive session, led by oil & gas stocks as crude
prices jumped to their highest level in eight months. 
    Keppel Corp Ltd rose 4.95 percent, while Sembcorp
Industries Ltd gained 4.1 percent.
    Vietnam shares rose for a second day and closed 0.5
percent higher, led by basic materials and technology stocks,
while Philippine shares closed 0.2 percent higher, after
rising as much as 1.1 percent to their highest level since May
25, 2015 earlier in the day. 
    Meanwhile, Indonesian shares hit an 11-month peak
before settling down 0.4 percent, with telecommunication
services and industrials stocks leading the losses. Telekom
Indonesia fell 3.1 percent, while Jasa Marga 
dropped 0.9 percent.
    "... expect to see further softening of transaction volume
as investors are likely to wait for key market data ahead of BI
meeting, British referendum, and June FOMC (meeting)," said Taye
Shim, an analyst with Daewoo Securities Indonesia, in a note. 
    For Asian Companies click;  

  STOCK MARKETS                                          
 Change on the day                                       
  Market             Current       previous     Pct Move
  Singapore          2862.38       2848.09      0.50
  Bangkok            1445.54       1442.42      0.22
  Manila             7722.79       7710.54      0.16
  Jakarta            4916.061      4933.989     -0.36
  Kuala Lumpur       1657.85       1660.62      -0.17
 Ho Chi Minh         627.87        624.65       0.52
 Change on year                                 
  Market             Current       End prev yr  Pct Move
  Singapore          2862.38       2882.73      -0.71
  Bangkok            1445.54       1288.02      12.23
  Manila             7722.79       6952.08      11.09
  Jakarta            4916.061      4593.008     7.03
  Kuala Lumpur       1657.85       1692.51      -2.05
 Ho Chi Minh         627.87        579.03       8.43

 (Reporting by Krishna V Kurup in Bengaluru; Editing by
Subhranshu Sahu)
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