July 11, 2016 / 9:52 AM / 2 years ago

SE Asia Stocks-Upbeat U.S. jobs data fuels risk appetite; Indonesia up 2 pct

By Rushil Dutta
    July 11 (Reuters) - Most Southeast Asian stocks closed
higher on Monday, in line with Asian peers, as upbeat U.S. jobs
data eased concerns over the health of the world's largest
economy, with Indonesia hitting a 13-month high and Philippines
up more than 1 percent.
    The U.S. employment report on Friday, which showed the
economy added 287,000 jobs last month, was more than forecast
and acted as an immediate impetus for investors starting the
week with a greater appetite for risk.  
    "A stronger jobs report more or less eschews heightened
concerns about the U.S. economy coming to a screeching halt,"
said Vishnu Varathan, a senior economist with Mizuho Corporate
Bank in Singapore.
    "For the rest of the week, markets are going to be on toes
ahead of the Bank of England meeting." 
    The Bank of England meets on Thursday and might cut its 0.5
percent interest rate to offset the economic drag from Britain's
vote to leave the European Union.   
    "The main bet is whether the BOE is going to ease this week
or August when they release their updated inflation forecast. We
think they'd move ahead of time than wait and watch," Varathan
    The Jakarta Composite Index gained 2 percent, led by
financials and consumer staples, closing at its highest since
June 2015.
    Bank Central Asia Tbk PT and Bank Rakyat Indonesia
(Persero) Tbk PT gained 2.1 percent and 5.6 percent,
    Philippine shares finished 1.2 percent higher, led by
property developers and consumer cyclicals.
    SM Prime Holdings and Ayala Land gained
2.9 percent and 2.4 percent, respectively.
    "The local markets may re-test the psychological resistance
level of 8,000 this week, with support continuing to stay at
7,600," Manila-based SB Securities said in a note. 
    Singapore's Straits Times index closed at its highest
in more than two months, with consumer services and financials
leading the gainers.
    Thailand and Malaysia gained 0.9 percent and
0.6 percent, respectively.
    However, Vietnam closed 1 percent lower, dragged down
by energy stocks.
    Asian shares rose, with MSCI's broadest index of
Asia-Pacific shares outside Japan jumping 1.8
For Asian Companies click;  

  STOCK MARKETS                                   
  Change on day                                   
  Market           Current     Previous   Pct Move
  Singapore        2876.14     2847.04    1.02
  Bangkok          1468.39     1455.65    0.88
  Manila           7865.27     7771.52    1.21
  Jakarta          5069.019    4971.581   1.96
  Kuala Lumpur     1653.87     1644.54    0.57
  Ho Chi Minh      652.26      658.68     -0.97
  Change on  year                         
  Market           Current     End 2015   Pct Move
  Singapore        2876.14     2882.73    -0.23
  Bangkok          1468.39     1288.02    14.00
  Manila           7865.27     6952.08    13.14
  Jakarta          5069.019    4593.008   10.36
  Kuala Lumpur     1653.87     1692.51    -2.28
  Ho Chi Minh      652.26      579.03     12.65

 (Reporting by Rushil Dutta; Editing by Biju Dwarakanath)
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