September 4, 2019 / 10:14 AM / 19 days ago

SE Asia Stocks-Most rise on upbeat China services sector survey

    * Singapore top gainer with 1.3% jump 
    * Thailand hits near 1-month closing high
    * Malaysia July exports above expectations

    By Shreya Mariam Job
    Sept 4 (Reuters) - Most Southeast Asian stock markets rose
on Wednesday, tracking broader Asia as investors cheered a
private survey that showed accelerating growth in China's
services sector amid fears of a global slowdown.
    Activity in China's services sector expanded at the fastest
pace in three months in August as new orders rose, prompting the
biggest increase in hiring in over a year, the survey showed.

    Positive sentiment over the survey seeped into Southeast
Asian markets with China being the region's biggest trading
partner.  
    Singapore shares jumped 1.3%, shrugging off a central
bank survey showing a sharp cut in 2019 economic growth
forecasts.
    Industrial and financial stocks were the top gainers, with
industrial behemoth Jardine Matheson Holdings Ltd
rising 5.6%, while Hongkong Land Holdings Ltd jumped
9.2%. 
    Thai stocks advanced 1% to a near one-month closing
high after the finance minister played down recession fears.
    The economy is just slowing but not in a recession yet and
recently announced government stimulus measures should help lift
growth to 3% this year, the minister said.
    Index heavyweights Airports of Thailand and PTT PCL
 gained 3.5% and 1.8%, respectively. 
    Malaysian stocks gained 0.5% following a surprise
rise in July exports.
    Exports rose unexpectedly in July, rebounding from a drop in
the previous month, lifted by solid demand for manufactured
goods and higher shipments to China, government data showed.

    Financials were the top gainers, with Public bank Bhd
 rising 1%, while Malayan Banking Bhd added
0.5%.
    Philippine shares climbed 0.5%, underpinned by real
estate and industrial stocks. 
    Robinsons Land Corp and SM Investments Corp
gained 4.1% and 3.8%, respectively. 
    Indonesian shares edged higher, aided by energy and
real estate stocks, while Vietnam slipped on losses in
consumer and industrial stocks.

    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3130.57   3090.63         1.29
 Bangkok                1658.64   1642.25         1.00
 Manila                 7840.86   7804.71         0.46
 Jakarta                6269.664  6261.59         0.13
 Kuala Lumpur           1599.89   1591.52         0.53
 Ho Chi Minh            977.63    979.36          -0.18
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3130.57   3068.76         2.01
 Bangkok                1658.64   1563.88         6.06
 Manila                 7840.86   7,466.02        5.02
 Jakarta                6269.664  6,194.50        1.21
 Kuala Lumpur           1599.89   1690.58         -5.36
 Ho Chi Minh            977.63    892.54          9.53
 

 (Editing by Subhranshu Sahu)
  
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