April 5, 2018 / 4:46 AM / 4 months ago

SE Asia Stocks-Singapore, Malaysia bounce back in line with broader Asia

    * Singapore climbs up to 2.1 pct, financials top gainers
    * Malaysia rises up to 1.3 pct, most in nearly two months
    * Other SE Asian markets trim early gains 

    By Nicole Pinto
    April 5 (Reuters) - Singapore and Malaysian shares on
Thursday bounced back from the previous session's sharp fall, in
line with broader Asia as fears of a full-scale U.S.-China trade
war eased after Washington expressed willingness to negotiate a
resolution with Beijing.
    Other Southeast Asian stock markets also rose in early
trade, before trimming their gains. MSCI's broadest index of
Asia-Pacific shares outside Japan rose 0.5
percent.
    The sell-down on Wednesday was "a bit too drastic and we are
seeing bargain hunting in local markets", said Joel Ng, a
research analyst at KGI Securities in Singapore.
    Singapore shares climbed as much as 2.1 percent with
financials leading the recovery. 
    DBS Group Holdings Ltd rose as much as 2.9 percent
and Oversea-Chinese Banking Corp Ltd jumped 3.3
percent. 
    The benchmark stock index slumped 2.1 percent to its lowest
close in nearly six months on Wednesday. 
    Malaysian shares gained as much as 1.3 percent,
their most in nearly two months, following a 1.9 percent plunge
in the previous session.  
    Malayan Banking Bhd and CIMB Group Holdings Bhd
 led the recovery with a rise of 1.6 percent and 2.8
percent, respectively. 
    Data showed Malaysia's exports fell for the first time in 18
months in February, due to the effects of shorter working days
during the Lunar New Year break. Exports slipped 2 percent from
a year earlier, compared with the 17.9 percent jump recorded in
January. A Reuters poll had forecast an 8.3 percent gain in
February.
    Philippine shares rose as much as 0.6 percent before
erasing gains to trade little changed. Gains in industrial
stocks were outweighed by losses in financials. JG Summit
Holdings Inc rose 1.6 percent, while Ayala Corp
declined 1 percent.
    Government data showed annual inflation quickened faster
than expected in March because of increases in food, alcohol,
tobacco and utility prices.
    The consumer price index rose 4.3 percent from a year
earlier, above the median forecast of 4.2 percent in a Reuters
poll, and exceeding the central bank's 2 percent-4 percent
comfort range.
    Vietnam shares were down 0.2 percent after rising as
much as 0.6 percent in early trade, while Thai stocks
were slightly higher after rising up to 0.8 percent.     
    
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SOUTHEAST ASIAN STOCK MARKETS: Change as at: 0445 GMT
                 Current   Previous close  Pct Move
 Singapore       3400.99   3339.7          1.84
 Bangkok         1728.23   1724.98         0.19
 Manila          7994.99   7997.67         -0.03
 Jakarta         6190.058  6157.096        0.54
 Kuala Lumpur    1834.56   1815.94         1.03
 Ho Chi Minh     1188.51   1191.54         -0.25
                                           
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3400.99   3402.92         -0.06
 Bangkok         1728.23   1753.71         -1.45
 Manila          7994.99   8558.42         -6.58
 Jakarta         6190.058  6355.654        -2.61
 Kuala Lumpur    1834.56   1796.81         2.10
 Ho Chi Minh     1188.51   984.24          20.75
 

 (Reporting by Nicole Pinto; Editing by Subhranshu Sahu)
  
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