April 3 Southeast Asian stocks rose on Monday,
tracking broader Asian markets, with Indonesia leading the pack
on optimism from better-than-expected earnings for the quarter
Indonesian stocks gained 0.7 percent, with energy
and consumer staples pushing the index higher.
The better-than-expected earnings for the quarter ended
March are "providing support to the index," said Harry Su, an
analyst with Jakarta-based Bahana Securities.
The "sectors that have reported stronger year-on-year growth
levels in their results are commodity related," Su added.
Mining contracts provider United Tractors Tbk Pt
gained 5 percent, while Unilever Indonesia Tbk PT rose
Indonesia's largest telecommunication firm PT
Telekomunikasi Indonesia (Telkom) rose 1.2 percent.
The country also saw its annual inflation rate easing to
3.61 percent in March, against expectations for it to stay
steady near last month's 3.83 percent.
Broader Asian markets were steady, with MSCI's broadest
index of Asia-Pacific shares outside Japan 0.3
percent higher by 0458 GMT.
The rally in the Asian markets was underpinned by signs of a
pickup in momentum in the global economy, led by China.
A private survey on China's manufacturing on Saturday though
below market expectations, still showed a healthy expansion,
while a similar survey by the government on Friday pointed to
strong growth in the sector.
The markets will also be looking out for the U.S. payroll
figures on Friday and U.S. President Donald Trump's first
meeting with counterpart Xi Jinping on Thursday and Friday.
Philippines was 0.3 percent higher, with real estate
stocks accounting for more than half of the gains.
The "market has been trading tightly this year" as it is
"looking for a catalyst," said Rachel Cruz, a research analyst
with Manila-based AP Securities.
Ayala Land Inc and SM Prime Holdings
gained 1.8 and 1.2 percent.
Thai stocks rose 0.4 percent, with energy and
consumer stocks leading the gains.
Country's largest energy firm PTT Pcl gained 1.3
percent, while convenience store chain CP All Pcl
rose 1.7 percent.
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SOUTHEAST ASIAN STOCK MARKETS: Change at 0458 GMT
Market Current Prev close Pct Move
Singapore 3183.07 3175.11 0.25
Bangkok 1579.66 1575.11 0.29
Manila 7335.11 7311.72 0.32
Jakarta 5605.218 5568.106 0.67
Kuala Lumpur 1742.57 1740.09 0.14
Ho Chi Minh 723.68 722.31 0.19
Change on year
Market Current End 2016 Pct Move
Singapore 3183.07 2880.76 10.49
Bangkok 1579.66 1542.94 2.38
Manila 7335.11 6840.64 6.9
Jakarta 5605.218 5296.711 5.82
Kuala Lumpur 1742.57 1641.73 6.14
Ho Chi Minh 723.68 664.87 8.6
(Reporting by Krishna V Kurup in Bengaluru, Additional
reporting by Ambar Warrick; Editing by Vyas Mohan)