SE Asia Stocks-Most rebound as U.S. recession fears recede; Indonesia leads gains
* Asia shares ex-Japan up 0.3 pct
* Singapore awaits factory output data
* Thai Feb factory output falls 1.6 pct
By Shanima A
March 26 (Reuters) - Most Southeast Asian stock markets
bounced back on Tuesday from steep losses in the previous
session as worries about a U.S. recession eased, with Indonesia
leading the gains and rising most in more than a week.
Shares on the Wall Street stabilised overnight, after the
steep sell-off on Friday on looming worries over 10-year U.S.
Treasury yield curve inversion, an indicator of impending
recession in the world's largest economy.
"After a sea of red on regional stock markets yesterday,
Asia appears to be letting out a collective sigh of relief this
morning as European and North American stocks stabilised in the
overnight session," Jeffrey Halley, senior market analyst at
OANDA, said in a note.
MSCI's broadest index of Asia-Pacific shares outside Japan
rebounded 0.3 percent after losing 1.4 percent
in the previous session.
However, investors remained cautious ahead of data on United
States consumer confidence for March after the rebound in
February following three straight monthly declines.
The Indonesian index led the gains in the region and
posted its best day in more than a week, rising 0.88 percent,
boosted by financials and consumer staples stocks.
Bank Central Asia Tbk PT added more than 1 percent
and shares of household products maker Unilever Indonesia Tbk PT
clocked their biggest gain since February 18.
Singapore shares rose 1 percent ahead of industrial
production data for February.
Thai shares were trading 0.1 percent higher, after
an unexpected fall in factory output in February.
Thailand's manufacturing production index (MPI) in February
unexpectedly dropped 1.6 percent from a year earlier, led by
lower production of steel, computers and rubber products, the
Industry Ministry said on Tuesday.
A Reuters poll had expected it to have risen at a slightly
faster pace than in the previous month.
The results of country's first elections since a 2014 coup
were still unclear after the Election Commission on Monday said
the winners of the remaining 150 of the lower house seats may be
announced only on Friday.
A final official announcement is expected on May 9.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0413 GMT
Market Current Previous close Pct Move
Singapore 3209.94 3182.92 0.79
Bangkok 1628.13 1625.91 0.14
Manila 7902.8 7863.02 0.51
Jakarta 6466.493 6411.251 0.88
Kuala Lumpur 1649.02 1649.15 -0.01
Ho Chi Minh 970.81 970.07 0.08
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3209.94 3068.76 4.60
Bangkok 1628.13 1563.88 4.11
Manila 7902.8 7,466.02 5.85
Jakarta 6466.493 6,194.50 4.39
Kuala Lumpur 1649.02 1690.58 -2.46
Ho Chi Minh 970.81 892.54 8.77
(Reporting by Shanima A in Bengaluru; Editing by Rashmi Aich)
