Reuters logo
SE Asia Stocks-Most rise; Singapore hits over 2-yr high ahead of inflation data
October 23, 2017 / 4:17 AM / a month ago

SE Asia Stocks-Most rise; Singapore hits over 2-yr high ahead of inflation data

    By Aditya Soni
    Oct 23 (Reuters) - Most Southeast Asian stock markets rose
on Monday after Wall Street's record finish in the previous
session, with Singapore hitting a more than two-year high ahead
of the release of September inflation data later in the day.
    All three U.S. stocks indexes hit record closing highs on
Friday after the senate passed a budget resolution that will
allow Republicans to pursue a tax-cut package without Democratic
support, lifting hopes that President Donald Trump's tax-cut
plan may move forward.
    "Market sentiment was lifted on news last Friday that the
U.S. Senate passed a budget resolution allowing $1.5 trillion of
deficits over 10 years, which is seen as paving the way for tax
reforms legislation to be passed," Mizuho Bank said in a note.
    Singapore shares rose as much as 0.6 percent to their
highest since July 2015, before shedding gains to trade
marginally higher. 
    The city-state's consumer price index in September is
expected to have risen at the same pace as the previous month
from a year earlier due to higher petrol prices, a Reuters poll
showed.
    Financials and Industrials led the gains with heavyweight
DBS Group Holdings rising to a more than
two-and-a-half-month high and Keppel Corp Ltd climbing
to its highest August 2015.
    Indonesian shares rose up to 0.6 percent to a near
three-week high, with financials accounting for most of the
gains. 
    Bank Central Asia Tbk PT, the country's biggest
stock by market capitalisation, climbed as much as 5 percent to
a record high, while Astra International Tbk PT rose
up to 1.6 percent. 
    Vietnam shares were down for a second straight session, with
energy and materials sectors leading the decline. 
    Meanwhile, Prime Minister Nguyen Xuan Phuc said the country
is likely to meet its annual economic growth target of 6.7
percent this year.
    Average inflation in 2017 is seen around 4 percent, meeting
the target, while foreign reserves have reached a record high of
more than $45 billion, he told the country's national assembly. 
    Thailand was closed for local holiday. 
      
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: CHANGE AS OF 0333 GMT 
  Market           Current       Previous     Pct Move
                                 close        
  Singapore        3343.9        3340.73      0.09
  Manila           8440.62       8420.95      0.23
  Jakarta          5959.098      5929.549     0.50
  Kuala Lumpur     1743.53       1740.65      0.17
 Ho Chi Minh       824.69        826.84       -0.26
                                              
  Change on year                              
  Market           Current       End prev yr  Pct Move
  Singapore        3343.9        2880.76      16.08
  Manila           8440.62       6840.64      23.39
  Jakarta          5959.098      5296.711     12.51
  Kuala Lumpur     1743.53       1641.73      6.20
  Ho Chi Minh      824.69        664.87       24.04
 

 (Reporting by Aditya Soni in Bengaluru; Editing by Subhranshu
Sahu)
  

Our Standards:The Thomson Reuters Trust Principles.
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