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SE Asia Stocks-Steady ahead of quarterly earnings, GDP numbers
April 24, 2017 / 10:34 AM / in 8 months

SE Asia Stocks-Steady ahead of quarterly earnings, GDP numbers

    By Susan Mathew
    April 24 (Reuters) - Southeast Asian stock markets steadied
on Monday with investors taking positions ahead of first-quarter
economic growth numbers and as corporate earnings trickle in.
    The focus on the French election has shifted from Sunday's
first-round victory for centrist Emmanuel Macron to the May 7
runoff with far-right National Front leader Marine Le Pen.

    A Macron victory, seen largely as a more market-friendly
outcome, is expected to take the uncertainty around the French
exit, or 'Frexit', from the European Union off the table, as
opposed to Le Pen's staunch separatist stance on the issue.
    A plunge in China stocks amid signs that Beijing would
tolerate more market volatility as regulators clamp down on
shadow banking and speculative trading, weighed on sentiment.

    Risk aversion was further strengthened amid fears that North
Korea could conduct another nuclear test as tension escalated in
the region after South Korea said it may hold joint drills with
a U.S. aircraft strike group.
    "I would say incidences in other countries may have some
impact but it's a combination of so many things rather than just
one," said April Lee-Tan, head of research at COL Financial
Group.
    Singapore and Philippine shares came off early
lows to close marginally higher, as markets took heart from
European stocks opening sharply higher on Macron's lead in the
first round. 
    Jardine Cycle & Carriage and Golden Agri-Resources
 rose 1.5 percent each, helping Singapore shares to
close in positive territory.
    The city-state's headline consumer price index in March rose
0.7 percent from a year earlier, in line with economist
expectations, and is unlikely to shift the central bank's
neutral policy stance.
    Thai shares closed 0.3 percent lower. Thailand
posted a trade surplus of $1.62 billion for March, missing a
Reuters poll forecast of $1.72 billion, while customs-cleared
exports surged well above expectations.
    Charoen Pokphand Foods and Thai President Foods
 fell 3.7 percent each.
    Vietnam shares declined for a third straight session,
ending down 0.4 percent.
    Indonesian and Malaysian markets were closed for local
holidays.  
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON DAY
  Market            Current       Previous Close  Pct Move
  Singapore         3144.03       3139.83         0.13
  Bangkok           1564.66       1570.02         -0.34
  Manila            7588.88       7578.16         0.14
  Ho Chi Minh       709.39        712.41          -0.42
                                                  
  Change on year                                  
  Market            Current       End 2016        Pct Move
  Singapore         3144.03       2880.76         9.14
  Bangkok           1564.66       1542.94         1.41
  Manila            7588.88       6840.64         10.9
  Ho Chi Minh       709.39        664.87          6.7
 
 (Reporting by Susan Mathew in Bengaluru; additional reporting
by Krishna Kurup; Editing by Subhranshu Sahu)
  

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