July 12, 2016 / 5:16 AM / 2 years ago

SE Asia Stocks-Most gain after Wall Street rally

July 12 (Reuters) - Most Southeast Asian stock markets were
higher on Tuesday, in line with Asian peers, enjoying spillover
gains from Wall Street's record high aided by upbeat U.S. jobs
data and expectations of stimulus from global policy makers.
    The S&P 500 ended at a new high after touching its
highest of 2,143.16. It overtook the previous highs touched in
May 2015, after Friday's massive job figures reduced worries
about a slowdown in employment.  
    MSCI's broadest index of Asia-Pacific shares outside Japan
 rose 0.5 percent to its highest since April.
    Investors will also keep a close eye on the Bank of Japan as
Japanese Prime Minister Shinzo Abe ordered a new round of fiscal
stimulus spending after a crushing election victory. 
    "Markets seem to be bullish about more stimulus coming from
Japan. The yen is very strong, which could be detrimental to the
economy. The central bank should be doing something to stabilise
the yen," said a Singapore-based analyst who did not want to be
    A visit by former Federal Reserve Chairman Ben Bernanke to
the Bank of Japan fuelled talk BOJ Governor Haruhiko Kuroda
might decide to provide "helicopter money" - a term coined by
economist Milton Friedman and cited by Bernanke, as a way to
finance government budgets and fight deflation. Bernanke plans
to meet Abe on Tuesday. 
    The Bank of England meets on Thursday and might cut its 0.5
percent interest rate to offset the economic drag from Britain's
European Union exit.  
    Indonesia extended gains to a more than 1-year high,
driven by financial and telecom stocks.
    Bank Central Asia Tbk PT and Bank Rakyat Indonesia
(Persero) Tbk PT added 2.2 percent and 1.3 percent
    The Philippine index saw a third session of rise,
with financial stocks accounting for more than half the gains.
    Metropolitan Bank and Trust Co was among the
biggest gainers with a 1.2 percent rise.
    Singapore's Straits Times index posted paltry gains,
while Malaysia and Vietnam lost 0.3 percent each.
    For Asian Companies, click 

  STOCK MARKETS                                 
  Change at                                     
 0435 GMT                               
  Market         Current     Previous   Pct Move
  Singapore      2881.62     2876.14    0.19
  Bangkok        1469.86     1468.39    0.10
  Manila         7894.87     7865.27    0.38
  Jakarta        5113.85     5069.019   0.88
  Kuala Lumpur   1648.83     1653.87    -0.30
 Ho Chi Minh     650.25      652.26     -0.31
  Change so far                         
 this year                              
  Market         Current     End prev   Pct Move
  Singapore      2881.62     2882.73    -0.04
  Bangkok        1469.86     1288.02    14.12
  Manila         7894.87     6952.08    13.56
  Jakarta        5113.85     4593.008   11.34
  Kuala Lumpur   1648.83     1692.51    -2.58
 Ho Chi Minh     650.25      579.03     12.30
 (Reporting by Rushil Dutta; Editing by xxxx)
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