By Rushil Dutta
April 18 Most Southeast Asian stock markets rose
on Tuesday, recovering from recent losses as investors moved
past issues about North Korea and looked for triggers from local
Indonesian shares rose as much as 0.9 percent in
their biggest intraday percentage gain since March-end and were
headed for their first gain in three sessions on the back of
gains in financial and telecom stocks.
Bank Rakyat Indonesia and Bank Mandiri
gained 3.8 percent and 1.5 percent, respectively.
The Jakarta SE Composite index shed 0.7 percent in the
previous session as geopolitical concerns overshadowed
higher-than-expected Mach exports data.
"This (trade data) probably could be one of the catalysts
for the positive sentiment in the market today," said Arief
Budiman of Jakarta-based Ciptadana Securities.
Jakarta is to hold the second round of gubernatorial
elections on April 19 which sees the incumbent Christian
governor of Jakarta, Basuki "Ahok" Tjahaja Purnama and his
Muslim opponent neck and neck in the race to lead Indonesia's
The election campaign - which has been among the most
divisive in the city's history - has been marred by religious
and ethnic tension over the blasphemy trial of Purnama, who is
accused of insulting Islam.
"While likely a local event, a loss for incumbent governor
Ahok may prove negative for the market sentiment," Nomura said
in a note.
Thai shares saw broad-based gains and were 0.4
percent higher with material, consumer, and financial stocks
rising the most.
PTT Exploration and Production, however, was the
biggest net gainer on the index, up 1.8 percent.
Singapore shares snapped two sessions of falls to
trade slightly higher, helped by industrials and consumer
Malaysian shares rose for a second straight session,
while Vietnam was headed for a fifth straight session of
falls, after having declined 2.8 percent in the previous four
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SOUTHEAST ASIAN STOCK MARKETS AT 0500 GMT
Market Current Previous Close Pct Move
Singapore 3144.27 3138.3 0.19
Bangkok 1582.27 1575.91 0.40
Manila 7588.69 7588.53 0.00
Jakarta 5619.512 5577.487 0.75
Kuala Lumpur 1738.67 1733.93 0.27
Ho Chi Minh 708.3 710.83 -0.36
Change on year
Market Current End 2016 Pct Move
Singapore 3144.27 2880.76 9.15
Bangkok 1582.27 1542.94 2.55
Manila 7588.69 6840.64 10.90
Jakarta 5619.512 5296.711 6.09
Kuala Lumpur 1738.67 1641.73 5.90
Ho Chi Minh 708.3 664.87 6.50
(Reporting by Rushil Dutta; Additional reporting by Anusha
Ravindranath in Bengaluru; Editing by Subhranshu Sahu)