August 8, 2017 / 4:44 AM / 10 months ago

SE Asia Stocks-Rise on upbeat global economic outlook

    By Sandhya Sampath
    Aug 8 (Reuters) - Southeast Asian stock markets, except
Singapore, nudged higher on Tuesday as optimism over the
prospects of better global economic growth outweighed
weaker-than-expected Chinese trade data.
    Ratings agency Fitch raised its 2017 world GDP growth
forecast to 3 percent from its estimate of 2.9 percent in June,
with the revisions led by emerging markets and China in
    "Spill-overs from the rebound in emerging market demand are
reflected in the fastest growth in world trade since 2010,"
Fitch's Chief Economist Brian Coulton said late in the Asian day
on Monday.
    Fitch raised China's 2017 GDP growth forecast to 6.7 percent
from 6.5 percent earlier. 
    That provided some cheer on a day when China's July exports
and imports both grew much less than expected, breaking a run of
better numbers from the Asian giant that had fuelled optimism on
global growth and a rally in industrial commodity prices.

    Asian shares inched higher, with MSCI's broadest index of
Asia-Pacific shares outside Japan up 0.2
    In Southeast Asia, Indonesian shares recovered from
three sessions of losses to rise as much as 0.5 percent, led by
financials and consumer staples.
    Bank Central Asia Tbk PT gained as much as 1.5
percent, while Hanjaya Mandala Sampoerna Tbk PT rose
as much as 2.4 percent.
    The Philippine index rose for a fourth consecutive
session, on higher financial and telecom stocks. Property
developer SM Prime Holdings Inc rose as much as 2.7
percent, while PLDT Inc gained as much as 0.6 percent.
    Vietnam climbed as much as 0.5 percent to hit a fresh
9-year high. Gains were led by financial and energy stocks, with
Joint Stock Commercial Bank for Foreign Trade of Viet Nam
 adding as much as 2.4 percent.    
    Singapore's FTSE Straits Times Index however fell 0.3
percent, with financial and telecom stocks dragging the index
    Heavyweights DBS Group Holdings Ltd and StarHub
Ltd lost 1.3 percent and 2.3 percent, respectively.
    "STI may continue to consolidate ahead of the National Day
holiday despite overnight positive cues from Wall Street," OCBC
Bank said in a note.
    On Wall Street, the Dow edged up to its ninth record closing
high in a row while the S&P 500 ended slightly higher.
    Financial markets in Singapore are closed Aug. 9 for
National Day.             

For Asian Companies click;  

 Change on day                                    
 Market            Current       Previous Close  Pct Move
 Singapore         3310          3320.67         -0.32
 Bangkok           1576.23       1573.67         0.16
 Manila            8032.34       7992.27         0.50
 Jakarta           5777.411      5749.292        0.49
 Kuala Lumpur      1778.16       1777.91         0.01
 Ho Chi Minh       793.11        792.98          0.02
 Change on year                                   
 Market            Current       End 2016        Pct Move
 Singapore         3310          2880.76         14.90
 Bangkok           1576.23       1542.94         2.16
 Manila            8032.34       6840.64         17.42
 Jakarta           5777.411      5296.711        9.08
 Kuala Lumpur      1778.16       1641.73         8.31
 Ho Chi Minh       793.11        664.87          19.29
 (Reporting by Sandhya Sampath; Editing by Biju Dwarakanath)
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