April 12, 2017 / 6:10 AM / 4 months ago

SE Asia Stocks-Largely up but geopolitical risks cap gains; S'pore falls

    By Krishna V Kurup
    April 12 (Reuters) - Most Southeast Asian stocks rose on
Wednesday, but brewing geopolitical tensions kept a lid on
gains, with Singapore headed for a second straight day of
losses.
    The heightened geopolitical risks have dampened an otherwise
brightening outlook for global economic growth, led by the
United States, encouraging momentum in export-reliant
Asia.
    North Korean state media warned on Tuesday of a nuclear
attack on the United States at any sign of American aggression,
as a U.S. Navy strike group steamed toward the western
Pacific.
    Japan's navy also plans joint drills with the U.S. force,
sources told Reuters.
    Meanwhile, U.S. Secretary of State Rex Tillerson was in
Moscow to denounce Russian support for Syria's Bashar al-Assad,
raising the stakes in the Middle East.
    Investors in Southeast Asian markets have factored in the
geopolitical risks, said Rachelle Cruz, a research analyst with
AP Securities.
    "That is one of the reasons why foreign inflows have been
strong for the emerging markets," she added. 
    Thai shares rose as much as 0.4 percent to hit a
two-month high, boosted by energy and telecom shares.
    Thai energy company PTT Pcl rose 0.5 percent as a
rise in oil prices gave support, while mobile operator Advanced
Info Service Pcl gained 0.9 percent.
    Indonesian shares were also up, with the index of
the country's 45 most liquid stocks gaining 0.3
percent. Natural gas utility PT Perusahaan Gas Negara (Persero)
 rose 3.7 percent. 
    Singapore shares fell as much as 0.3 percent, with
telecom stocks the biggest drag on the benchmark. Singapore
Telecommunications Ltd dropped 1.8 percent.
    Vietnam fell as much as 0.6 percent, with consumer
stocks biggest decliners.
    "Market has reached a plateau as short-term technical
indicators suggest it is mildly overbought," said Fiachra Mac
Cana, head of research at Ho Chi Minh Securities.
    "Minor movements suggests a very mixed view with some
investors happy to buy on dips as they expect a positive Q1
earnings season and good news on FOL (foreign ownership limit)
from some companies at the upcoming AGMs (annual general
meeting)."
    
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS :Change at 0510 GMT
    
  Market             Current        Prev close    Pct Move
  Singapore          3170.35        3174.75       -0.14
  Bangkok            1586.1         1582.78       0.21
  Manila             7623.3         7601.4        0.29
  Jakarta            5643.873       5627.933      0.28
  Kuala Lumpur       1737.45        1735.84       0.09
  Ho Chi Minh        727.29         731.33        -0.55
                                                  
  Change on year                                  
  Market             Current        End 2016      Pct Move
  Singapore          3170.35        2880.76       10.05
  Bangkok            1586.1         1542.94       2.80
  Manila             7623.3         6840.64       11.4
  Jakarta            5643.873       5296.711      6.55
  Kuala Lumpur       1737.45        1641.73       5.83
  Ho Chi Minh        727.29         664.87        9.4
 

 (Reporting by Krishna V Kurup in Bengaluru; Additional
reporting by Urvashi Goenka; Editing by Amrutha Gayathri)
  

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