April 24, 2019 / 3:55 AM / a month ago

SE Asia Stocks-Most rise as Wall Street gains brew optimism

    * Vietnam leads gains 
    * Indonesia dips on profit-taking in major sectors

    By Ambar Warrick
    April 24 (Reuters) - Most Southeast Asian stock markets rose
on Wednesday as a swathe of strong U.S. corporate earnings
perked up risk appetite and spread positive sentiment across
Asia.
    Asian stock markets tracked record highs on Wall Street as
fears of a broader slowdown were assuaged by strong corporate
results. Optimism also allowed local markets to shrug off a
spike in oil prices.
    "The performance of Wall Street should be a green light for
regional stock markets to track higher this session. Higher oil
prices have, somewhat surprisingly, failed to dampen the
enthusiasm of Asian markets," said Jeffrey Halley, senior market
analyst at OANDA in Singapore.
    Vietnam shares were the strongest performers, rising
about 0.7 percent with financials and real estate stocks leading
broad-based gains.
    Stronger earnings on Wall Street bode well for Vietnam,
given its position as a manufacturing hub for a number of U.S.
companies, such as Hasbro Inc.
    For the day, Tay Ninh Cable Car Tour Co and
Industrial Urban Development JSC were among the biggest
boosts to the benchmark.
    Malaysian index rose for a second straight session
after the government's assurance of resilience in the country's
economy. Stocks also saw some bargain buying, with the index
having touched a more than three-year low last week.
    Index-heavy lenders Malayan Banking and Public
Bank rose about 0.3 percent and 0.2 percent,
respectively.
    On the other hand, Indonesian stocks eased with
consumer staples and telecom stocks seeing some profit-taking
after strong gains on Tuesday. Both sectors had seen heavy
buying in the previous session on the prospect of steady
economic growth in the country and a stable rupiah.
    Telekomunikasi Indonesia and Unilever Indonesia
 dropped about 1.3 percent and 0.5 percent
respectively, and were among the biggest drags on the local
benchmark.
    An index of the index's 45 most liquid stocks fell
about 0.4 percent.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0330 GMT
    
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3356.42   3353.47         0.09
 Bangkok            1671.91   1671.31         0.04
 Manila             7819.56   7818.93         0.01
 Jakarta            6446.528  6462.822        -0.25
 Kuala Lumpur       1634.58   1627.44         0.44
 Ho Chi Minh        974.27    968             0.65
                                              
 Change on year                               
 Market             Current   End 2018        Pct Move
 Singapore          3356.42   3068.76         9.37
 Bangkok            1671.91   1563.88         6.91
 Manila             7819.56   7466.02         4.74
 Jakarta            6446.528  6194.498        4.07
 Kuala Lumpur       1634.58   1690.58         -3.31
 Ho Chi Minh        974.27    892.54          9.16
 
 (Reporting by Ambar Warrick in Bengaluru; editing by Gopakumar
Warrier)
  
Nuestros Estándares:Los principios Thomson Reuters
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