April 2, 2019 / 10:10 AM / 3 months ago

SE Asia Stocks-Most end firmer on manufacturing rebound, trade deal hopes

    * Upbeat data allays fears of global growth slowdown 
    * Singapore hits 9-1/2-month closing high
    * Thai stocks post fourth straight session of gains 

    By Shreya Mariam Job
    April 2 (Reuters) - Most Southeast Asian stock markets
closed higher on Tuesday, in line with broader Asia, as positive
U.S. and China manufacturing activity data alleviated concerns
of a global growth slowdown amid signs of progress on the trade
    U.S. manufacturing activity rebounded a bit more than
expected in March, while China's manufacturing sector
unexpectedly returned to growth for the first time in four
months in March.
    Optimism stemming from the upbeat data boosted investor
confidence across the board, with MSCI's broadest index of
Asia-Pacific shares outside Japan rising 0.2
percent, hitting a seven-month high after rallying more than 1
percent in the previous session.
    Investors were also encouraged by recent trade developments.
China's State Council said the country would continue to suspend
additional tariffs on U.S. vehicles and auto parts after April 1
in a goodwill gesture following a U.S. decision to delay tariff
hikes on Chinese imports.
    Stating that the markets were revelling in the silver
linings in China's PMI and U.S. ISM data, Vishnu Varathan, a
senior economist with Mizuho Bank said in a note, "The trouble
with silver linings is that the clouds have yet to lift, even if
bets mount on the sunshine behind."
    Leading the gains in the regional market, Singapore stocks
 jumped nearly 1 percent to their highest close since Aug.
10, 2018, bolstered by financials. 
    DBS Group Holdings Ltd rose 1.9 percent to hit its
highest close in more than six months, while Oversea-Chinese
Banking Corp Ltd added 1.3 percent. 
    Industrial and telecom stocks drove the Philippine index
 0.5 percent higher, with SM Investments Corp up
1.7 percent and PLDT Inc gaining 2.3 percent.
    Thai stocks posted their fourth consecutive session
of gains, boosted by consumer and financial shares. CP All Pcl
 ended 0.7 percent stronger, while Kasikornbank Pcl
 firmed 1.3 percent    
    Malaysian equities rebounded from previous session's
plunge to end 0.3 percent firmer, on the back of financial and
telecom stocks. 
    Malaysia's exports likely rose 1.4 percent in February from
a year earlier, slower than the previous month, a Reuters poll
showed. The data is expected on Thursday.
    Shares of Public Bank Bhd and Maxis Bhd
firmed 1 percent and 3 percent, respectively. 
    Vietnam stocks, the outliers in the region, shed
earlier gains to close in the red.           
For Asian Companies click;  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3279.78   3250.51         0.90
 Bangkok                1651.48   1644.64         0.42
 Manila                 7879.21   7840.31         0.50
 Jakarta                6476.066  6452.611        0.36
 Kuala Lumpur           1632.83   1628.66         0.26
 Ho Chi Minh            985.81    988.53          -0.28
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3279.78   3068.76         6.88
 Bangkok                1651.48   1563.88         5.60
 Manila                 7879.21   7,466.02        5.53
 Jakarta                6476.066  6,194.50        4.55
 Kuala Lumpur           1632.83   1690.58         -3.42
 Ho Chi Minh            985.81    892.54          10.45
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Sherry
Nuestros Estándares:Los principios Thomson Reuters
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