By Anusha Ravindranath
Oct 3 Most Southeast Asian stock markets were up
on Monday, mirroring gains in Asian peers that climbed as
concerns over stability of German lender Deutsche Bank eased,
with Indonesia recovering from previous session's losses to rise
more than 1 percent.
Sentiment also got a boost after oil prices stabilised on
hopes the OPEC cut on output would help re-balance markets.
In Asia, a report that Deutsche Bank was negotiating a much
smaller fine with the U.S. Department of Justice pushed shares
higher. MSCI's broadest index of Asia-Pacific shares outside
Japan rose 0.8 percent.
Indonesia outperformed regional markets, supported by gains
in shares of basic materials and consumer cyclical companies.
"We are seeing some positive sentiment because Jokowi
(Indonesian President Joko Widodo) has asked for a higher budget
in terms of capex in 2017," said Harry Su, an analyst with
Jakarta-based Bahana Securities.
"If this comes through then obviously spending would
increase, which in turn could be positive for GDP growth."
The Jakarta Post reported on Saturday that the Indonesian
government planned to improve the quality of government spending
after recent budget cuts. (bit.ly/2dCNAie)
"The easing of Deutsche Bank concerns also lent some support
for JCI's (Jakarta Composite Index) performance this morning,"
Philippine shares bounced back, driven by gains in
industrials and consumer non-cyclical stocks.
Singapore shares were flat, while Thai stocks
rose, boosted by gains in energy shares.
PTT PCL was up 2.06 percent, while Thai Oil PCL
notched up gains of more than 1 percent.
The Malaysian stock market was closed for a holiday.
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SOUTHEAST ASIAN STOCK MARKETS
Change at 445
Market Current Previous Pct Move
Singapore 2870.81 2869.47 0.05
Bangkok 1491.78 1483.21 0.58
Manila 7663.08 7629.73 0.44
Jakarta 5421.21 5364.804 1.05
Ho Chi Minh 572.74 572.27 -0.08
Change so far
Market Current End 2015 Pct Move
Singapore 2870.81 2882.73 -0.41
Bangkok 1491.78 1288.02 15.82
Manila 7663.08 6952.08 10.23
Jakarta 5421.21 4593.008 18.03
Ho Chi Minh 572.74 579.03 -1.09
(Reporting Anusha Ravindranath in Bengaluru; Editing by Biju