April 25, 2017 / 10:40 AM / 3 months ago

SE Asia Stocks-Flat to higher on global cues; Indonesia closes at record high

4 Min Read

    By Susan Mathew
    April 25 (Reuters) - Southeast Asian stock markets ended
flat to higher on Tuesday, tracking a global relief rally as
risk appetite revived following the centrist win in the first
round of French presidential election.
    While markets globally got a lift from the expected win of
anti-Frexit candidate Emmanuel Macron, they now await the
results of the final round of election on May 7 between Macron
and far-left leader Marine Le Pen. Macron is widely expected to
win the election.
    "Asian markets appear to be still lingering in the glow of
relief after the French election. The jubilance in markets
overnight has also added to the optimism," said Jingyi Pan, a
market strategist with IG in Singapore.
    Investors were worried that North Korea would conduct
another nuclear test or long-range missile launch, perhaps on
the Tuesday anniversary of the founding of its military. But
instead of a nuclear test or big missile launch, it deployed a
large number of long-range artillery units in the region of
Wonsan on its east coast for a live-fire drill.
    Investors are also looking ahead to U.S. President Donald
Trump's promise to announce on Wednesday "a big tax reform and
tax reduction".
    "For Asian markets, event risks lie ahead, though the
imminent event in the form of Trump's tax announcement provides
an upside bias for markets," said Pan.
    Indonesian shares hit an all-time closing high with
telecom stock Sarana Menara Nusantara rising 5.3
percent and Bank Rakyat Indonesia gaining 1.6 percent.
    Philippine shares rose 1.5 percent to close at their
highest in six months, with gains being led by Aboitiz Power
 and DMCI Holdings.
    Singapore stocks rose for the fourth straight
session, while Malaysian shares posted their highest
close since May 2015. 
    "With the ringgit at an attractive level, foreign
funds are slowly putting Malaysia back into their radar," said
Danny Wong, chief executive officer of Areca Capital.
    Thai shares closed at their lowest in more than a
month, while Vietnam fell for the fourth straight
session, posting their lowest close since March 2.

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON DAY
    
  Market            Current       Previous Close    Pct Move
  Singapore         3163.93       3144.03           0.63
  Bangkok           1562.27       1564.66           -0.15
  Manila            7700.46       7588.88           1.47
  Jakarta           5680.796      5664.475          0.29
  Kuala Lumpur      1765.8        1756.05           0.56
  Ho Chi Minh       707.58        709.39            -0.26
                                                    
  Change on year                                    
  Market            Current       End 2016          Pct Move
  Singapore         3163.93       2880.76           9.83
  Bangkok           1562.27       1542.94           1.25
  Manila            7700.46       6840.64           12.6
  Jakarta           5680.796      5296.711          7.25
  Kuala Lumpur      1765.8        1641.73           7.56
  Ho Chi Minh       707.58        664.87            6.4
 
 (Reporting by Susan Mathew in Bengaluru; additional reporting
by Nichola Saminather and Liz Lee; Editing by Subhranshu Sahu)
  

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