April 16, 2019 / 9:36 AM / 4 months ago

SE Asia Stocks-Most rise ahead of China's growth data; Vietnam drops

    * Vietnam posts lowest close in nearly 3 weeks
    * Philippines snaps three consecutive sessions of losses
    * Indonesian presidential elections on April 17

    By Shreya Mariam Job
    April 16 (Reuters) - Most Southeast Asian stock markets
ended higher on Tuesday, with Indonesia leading the pack, as
investors remained optimistic about a recovery in China's
economy ahead of the country's first-quarter growth pace set to
be released on Wednesday.
    First-quarter economy growth in China, the region's largest
trading partner, likely cooled to the weakest pace in at least
27 years, a Reuters poll showed, but a flurry of measures to
boost domestic demand may have put a floor under slowing
activity in March.
    "With a sizeable 4 trillion Chinese yuan ($596.42 billion)
fiscal stimulus and a monetary easing policy that has created 40
percent credit growth in 1Q19 alone, we expect the Chinese
economy to grow above the 6 percent lower boundary target set by
the government," according to a note from ING.
    Indonesian stocks led gains in the region with
broad-based increase across the sectors as investors snapped up
stocks ahead of the presidential elections on Wednesday.
    President Joko Widodo is standing for re-election in a
contest with ex-general Prabowo Subianto, in what is described
as the world's biggest single-day election.
    Bank Mandiri (Persero) Tbk Pt and Astra
International Tbk Pt were the top boosts to the index
rising 3.7 percent and 2 percent, respectively.
    An index of the country's 45 most liquid stocks
rose 1.1 percent.
    Philippine stocks pared earlier gains to close 0.5
percent higher, snapping three consecutive sessions of losses,
on the back of real estate and industrial stocks. 
    Philippines President Rodrigo Duterte on Monday signed a 3.7
trillion peso ($71.5 billion) budget for this year, its largest
ever, ending months of impasse that forced the Southeast Asian
country to cuts its growth target.
    Shares of SM Investments Corp gained 1.9 percent,
while those in SM Prime Holdings Inc firmed 2.4
percent. 
    Meanwhile, the Vietnam index closed down 0.6 percent
at its lowest closing level since March 27, dragged by real
estate stocks.
    Vinhomes JSC and Vincom Retail JSC dropped
more than 2 percent each. 
    Thai market was closed for a holiday. 

    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
 Market                 Current   Previous close  Pct Move
 Singapore              3332.04   3325.86         0.19
 Manila                 7826.46   7787.98         0.49
 Jakarta                6481.541  6435.151        0.72
 Kuala Lumpur           1629.46   1631.33         -0.11
 Ho Chi Minh            977.17    982.9           -0.58
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3332.04   3068.76         8.58
 Manila                 7826.46   7,466.02        4.83
 Jakarta                6481.541  6,194.50        4.63
 Kuala Lumpur           1629.46   1690.58         -3.62
 Ho Chi Minh            977.17    892.54          9.48
 


($1 = 6.7067 Chinese yuan renminbi)

 (Reporting by Shreya Mariam Job in Bengaluru; Editing by xxxx)
  
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below