July 15, 2016 / 5:36 AM / 2 years ago

SE Asia Stocks-Buoyed by China growth data; Singapore hits 2-1/2 mth high

By Ruchira Kondepudi
    July 15 (Reuters) - Most Southeast Asian stock markets rose
on Friday, in line with their Asian peers, as
better-than-expected China GDP data, a status quo from the Bank
of England and record highs on Wall Street offset the impact on
sentiment of an attack in France.
    China's economy climbed 6.7 percent in the second quarter,
marginally better than the expected 6.6 percent, which would
have been the weakest since the global financial
    Industrial output and retail sales also beat forecasts,
which helped alleviate fears of slowing momentum. 
    "The fact that money supply and loans are also up suggests
that China's pro-stimulus position should not be derailed, which
will be quite supportive of wider Asia," said Vishnu Varathan, a
senior economist with Mizuho Corporate Bank in Singapore.   
    The BoE on Thursday surprised financial markets by keeping
interest rates on hold, but held out the prospect of a stimulus
package soon. 
    "Given that markets have been effervescent the whole week,
there might be some caution as we go into closing hours. We are
not looking at an all-out risk positioning either," he said.
    Indonesian shares were up 0.5 percent, driven by
financials and consumer non-cyclicals, after the country's trade
surplus grew more than expected to $900 million in June.
    Trimegah Securities said it expected JCI to fall on Friday
and trade in a range of 5,058-5,133. 
    Kino Indonesia climbed 4 percent, while Bank
Central Asia gained nearly 1 percent.
    Singapore shares resumed trading after Thursday's
disruption and rose as much as 1.1 percent to their highest
since April 22, driven by consumer services and industrial
    Philippine stocks gained 0.7 percent, driven by
telecom and financials stocks, while Vietnam was down
with consumer non-cyclicals and energy shares leading the
    Asian shares extended gains, with MSCI's broadest index of
Asia-Pacific shares outside Japan rising 0.7
    Meanwhile, news of an attack in France lifted the safe-haven
yen in early trading. An attacker killed up to 80 people and
injured scores when he drove a heavy truck at high speed into a
crowd watching Bastille Day fireworks in the French Riviera city
of Nice late on Thursday, officials said. 
For Asian Companies click;  

  STOCK MARKETS                                            
  Change as of                                             
 0520 GMT                                      
  Market            Current       previous     Pct Move
  Singapore         2922.94       2906.92      0.55
  Bangkok           1492.46       1488.69      0.25
  Manila            8014.21       7956.14      0.73
  Jakarta           5109.823      5083.539     0.52
  Kuala Lumpur      1664.09       1654.78      0.56
  Ho Chi Minh       663.96        666.69       -0.41
  Change so far                                
 this year                                     
  Market            Current       End prev yr  Pct Move
  Singapore         2922.94       2882.73      1.39
  Bangkok           1492.46       1288.02      15.87
  Manila            8014.21       6952.08      15.28
  Jakarta           5109.823      4593.008     11.25
  Kuala Lumpur      1664.09       1692.51      -1.68
  Ho Chi Minh       663.96        579.03       14.67

 (Reporting by Ruchira Kondepudi; Editing by Subhranshu Sahu)
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