August 28, 2017 / 11:02 AM / a year ago

SE Asia Stocks-Rise; Thai index hits 2-mth closing high

    By Susan Mathew
    Aug 28 (Reuters) - Most Southeast Asian stock markets rose
on Monday as energy stocks gained due to disruptions from
Hurricane Harvey that battered the U.S. Gulf Coast, with
Thailand closing at a two-month high as easing political
tensions boosted sentiment.
    U.S. traders were seeking to import oil product cargoes from
North Asia after Harvey forced refineries across the U.S. Gulf
Coast to shut down, refining and shipping industry sources said
on Monday.
    Sentiment was also supported as China's major stock indexes
rose to 20-month highs on Monday, lifted by financial shares and
a spate of forecast-beating earnings reports from state
industrial giants.
    In Southeast Asia, Thai shares rose 0.6 percent to close at
their highest since June 27, spurred by broad-based gains.  
    Ousted Thai prime minister Yingluck Shinawatra fled the
country ahead of a verdict against her in a negligence trial
brought by the junta that overthrew her, leaving the populist
movement that has dominated Thai politics for a generation
leaderless and in despair.
    It also meant Yingluck doesn't become a martyr, as she could
have done if she had been jailed over the costly rice subsidy
scheme, or get let off lightly, which could have raised awkward
questions over why the military overthrew her in 2014.

    This has eased political tensions and has provided a short
term boost to the stock market, said Teerada Charnyingyong, a
strategist at Phillip Capital Thailand.
    The Singapore index closed 0.25 percent higher, with
financials and energy stocks leading the gains.
    Complex refining margins in Singapore, which already hit
their highest in August in five years, could get a further boost
from Harvey. DUB-SIN-REF
    Vietnam shares rose 0.7 percent to hit their highest in
nearly three weeks.
    Indonesian shares however fell slightly, with
Telekomunikasi Indonesia down 0.8 percent and Bank
Rakyat Indonesia 0.7 percent lower. 
    An outage from a satellite belonging to Telekomunikasi
Indonesia led to thousands of ATMs and electronic card payment
machines in the nation going offline over the weekend.

    The Philippine market was closed for a local holiday.

For Asian Companies click;  

  Market            Current       Previous Close  Pct Move
  Singapore         3267.62       3259.57         0.25
  Bangkok           1585.79       1575.85         0.63
  Jakarta           5903.341      5915.363        -0.20
  Kuala Lumpur      1769.49       1769.17         0.02
  Ho Chi Minh       777.26        771.63          0.73
  Change on year                                  
  Market            Current       End 2016        Pct Move
  Singapore         3267.62       2880.76         13.43
  Bangkok           1585.79       1542.94         2.78
  Jakarta           5903.341      5296.711        11.45
  Kuala Lumpur      1769.49       1641.73         7.78
  Ho Chi Minh       777.26        664.87          16.9
 (Reporting by Susan Mathew in Bengaluru; Editing by Biju
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