July 4, 2016 / 5:11 AM / 2 years ago

SE Asia Stocks-Rise as markets continue post-Brexit recovery

By Krishna V Kurup
    July 4 (Reuters) - Southeast Asian stock markets were
trading higher on Monday, tracking broader Asian shares, while
activity across much of the region was subdued due to the U.S
Independence Day holiday.
    "As the Brexit shock dissipates, focus is likely to shift to
central banks and data," Mixo Das, an analyst with Nomura, said
in a note.
    Investors are awaiting a raft of data this week including
U.S. non-farm payroll numbers due on Friday.
    Signs that the world's big central banks will go easier on
monetary conditions have helped drive a recovery for stock
markets after a bout of volatility following the Brexit vote.  
    "Overall post-Brexit, we expect easing biases from all of
BOE (Bank of England), Fed (U.S. Federal Reserve), BOJ (Bank of
Japan), ECB (European Central Bank) and even Asian central
banks," he added.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was up 0.6 percent at 0430 GMT, after Wall
Street logged its fourth straight day of gains on Friday.
    Philippine shares were up 0.6 percent, led by
industrials and financials. Ayala Corp rose 1.8 percent,
while SM Prime Holdings Inc was up 1.6 percent.
    The Philippine index "is expected to continue its uptrend,
as overnight markets extend gains, further shrugging off fears
from the Brexit vote," Manila-based SB Equities said in a note. 
    "Local markets may trade on weaker volume this week, as an
expected holiday declaration (Eid), may dampen trading
activity," it added.
    Singapore shares rose 0.7 percent, helped by consumer
goods and oil and gas stocks. Thai Beverage PCL rose
3.3 percent, while Keppel Corp Ltd was up 1.3 percent.
    Crude price extended gains on Monday in Asia, after Saudi
Arabia's energy minister and the secretary general of OPEC said
the oil market is heading towards balance. 
    Singapore's Manufacturing PMI data for June is expected to
come out later in the day.
    Vietnam gained 0.6 percent, led by technology shares.
Sacom Development and Investment Corp <rose 1.1
    The Indonesian stock market will be closed from July
4 to July 8 for end-of-Ramadan celebrations.

    For Asian Companies click;  

  STOCK MARKETS                                           
  Change at 0430 GMT                                      
  Market              Current       Prev close   Pct Move
  Singapore           2866.93       2846.37      0.72
  Bangkok             1451.2        1444.99      0.43
  Manila              7873.55       7830.35      0.55
  Kuala Lumpur        1654.17       1646.22      0.48
  Ho Chi Minh         644.29        640.3        0.62
  Change on year                                 
  Market              Current       End 2015     Pct Move
  Singapore           2866.93       2882.73      -0.55
  Bangkok             1451.2        1288.02      12.67
  Manila              7873.55       6952.08      13.25
  Kuala Lumpur        1654.17       1692.51      -2.27
  Ho Chi Minh         644.29        579.03       11.27

 (Reporting by Krishna V Kurup in Bengaluru; Editing by Sunil
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