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
percent.
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,
respectively.
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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SOUTHEAST ASIAN STOCK MARKETS AS at 0348 GMT
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)
