April 2, 2019 / 3:53 AM / in 3 months

SE Asia Stocks-Rise as positive U.S., China factory data eases slowdown worries

    * Philippines recovers from prvs session's fall 
    * Vietnam hits near two-week high

    By Shreya Mariam Job
    April 2 (Reuters) - Southeast Asian stock markets rose on
Tuesday, in line with broader Asia, as positive factory activity
data from the United States and China eased worries about
slowing global growth.
    U.S. manufacturing activity rebounded a bit more than
expected last month, according to an industry report released on
Monday, while China's manufacturing sector unexpectedly returned
to growth for the first time in four months in March, a private
business survey showed on Monday.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 rose 0.3 percent to a seven-month high after
rallying more than 1 percent in the previous session. 
    "The trouble with silver linings is that the clouds have yet
to lift, even if bets mount on the sunshine behind. So, EM Asia
optimism may be measured, not manic," said Vishnu Varathan, a
senior economist with Mizuho Bank, in a note, referring to 
China's PMI and U.S. ISM data. 
    Philippine stocks regained some ground after
declining 1 percent in the previous session and were Southeast
Asia's top gainers.
    Industrials and financials led the recovery with BDO Unibank
Inc and PLDT Inc rising 1.5 percent each.
    Malaysian shares firmed on the back of financial and
telecom stocks. Public Bank Bhd, which had dropped to
its lowest in more than a year in the previous session, rose 1.2
    Vietnam shares gained as much as 0.8 percent to their
 highest since March 21. Real estate and financial stocks
supported the gains with Vinhomes JSC and Joint Stock
Commercial Bank for Foreign Trade of Viet Nam firming
0.8 percent and 0.7 percent, respectively.
    Financial and energy stocks helped the Thai benchmark index
 gain 0.5 percent. PTT Pcl and Siam Commercial
Bank Pcl climbed 0.5 percent and 1.2 percent,
    Oil prices rose to fresh 2019 highs, supported by firm
Chinese economic data that eased demand concerns, the
possibility of more sanctions on Iran and further Venezuelan
supply disruptions.
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 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3267.75   3250.51         0.53
 Bangkok                1652.2    1644.64         0.46
 Manila                 7882.86   7840.31         0.54
 Jakarta                6470.657  6452.611        0.28
 Kuala Lumpur           1636.34   1628.66         0.47
 Ho Chi Minh            993.14    988.53          0.47
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3267.75   3068.76         6.48
 Bangkok                1652.2    1563.88         5.65
 Manila                 7882.86   7,466.02        5.58
 Jakarta                6470.657  6,194.50        4.46
 Kuala Lumpur           1636.34   1690.58         -3.21
 Ho Chi Minh            993.14    892.54          11.27
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by
Subhranshu Sahu)
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