August 9, 2019 / 4:04 AM / 9 days ago

SE Asia Stocks-Most rise on strong China export data; Indonesia leads gains

    * Thailand reverses track from previous session to gain
    * Indonesia on track for third session of gains

    By Soumyajit Saha
    Aug 9 (Reuters) - Southeast Asian stock markets rose on
Friday, with Indonesia leading the gains, buoyed by a surprise
rise in China's July exports.
    Trade surplus in China, the region's largest trading
partner, stood at $45.06 billion in July, well above a Reuters
poll forecast of $40 billion, despite U.S. tariffs that had
kicked in during May.
    "Markets are taking some relief from the stronger-than-
expected Chinese trade," Edward Moya, senior market analyst at
OANDA, said in a note, adding that though Chinese exports to the
US are falling, "demand has been steady everywhere else." 
    China's consumer inflation rose more than expected in July,
but factory gate prices fell for the first time in nearly three
years.
    Banking stocks helped the Indonesian index lead
gains in the region, with lenders Bank Central Asia
and Bank Rakyat Indonesia (Persero) rising 1% and
0.9%, respectively.
    An index of Jakarta's 45 most liquid stocks rose
0.4%.
    Thai stocks advanced, helped by gains in the
financial and energy sectors. Lender Bangkok Bank PCL
rose 2.4%, while oil and gas distributor PTT PCL gained
0.6%.   
    The Malaysian index were marginally higher, helped
by financial stocks. Lender Public Bank Bhd was 0.8%
up, while RHB Bank BHD rose 0.4%. 
    Philippine stocks were nearly flat, as gains in
financial and telecom services offset losses in the industrial
and utilities sectors. 
    Trading in Singapore was closed for a public holiday.

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SOUTHEAST ASIAN STOCK MARKETS AS AT 0354 GMT
    
 Market                 Current   Previous close  Pct Move
 Bangkok                1668.25   1665.12         0.19
 Manila                 7921.28   7914.16         0.09
 Jakarta                6291.698  6274.671        0.27
 Kuala Lumpur           1617.54   1616.02         0.09
 Ho Chi Minh            977.37    975.24          0.22
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3168.94   3068.76         3.26
 Bangkok                1668.25   1563.88         6.67
 Manila                 7921.28   7,466.02        6.10
 Jakarta                6291.698  6,194.50        1.57
 Kuala Lumpur           1617.54   1690.58         -4.32
 Ho Chi Minh            977.37    892.54          9.50
 
 (Reporting by Soumyajit Saha; Editing by Rashmi Aich)
  
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