SE Asia Stocks-Firmer; Indonesia, Malaysia hit record high
April 30 (Reuters) - All Southeast Asian stocks gained on Tuesday with Indonesia and Malaysia hitting record highs, on strong quarterly earnings and expectations that the U.S. Federal Reserve and the European Central Bank would continue with growth-supportive monetary stimulus measures. The broader Jakarta Composite Index rose 0.7 percent to a record high of 5,034.07, surpassing its previous peak of 5,026.92 hit on April 22. Unilever Indonesia Tbk PT, which jumped 14.1 percent to a five-month high, helped the index gain. The rally in the share was linked to the news that Unilever Plc was to raise its stake in India unit, said Jemmy Paul, head of equity, Sucorinvest Asset Management. Anglo-Dutch consumer goods giant Unilever offered to pay as much as $5.4 billion to raise its stake in its Indian unit, banking on fast-growing spending power in Asia's third-largest economy. James Allison, the company's head of investor relations and M&A, said later in the day that Unilever Plc does not intend to increase its stake in Indian arm Hindustan Unilever beyond 75 percent. Malaysia's broader index also hit a record high of 1,718.44, before ending at a record close of 1,717.65 with a 0.6 percent gain led by financials and a $209.34 million foreign inflow. The Malaysian stock exchange has reported a net foreign buying of 4.7 billion ringgit ($1.55 billion) so far in the month, outperforming most other regional peers. The Singapore Straight Times index gained 0.2 percent to a five-year high, the Philippine gained 0.6 percent and Thailand jumped 0.8 percent led by energy shares. Vietnam was closed for a holiday. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 450.65 450.06 +0.13 Singapore 3368.18 3361.92 +0.19 Kuala Lumpur 1717.65 1707.97 +0.57 Bangkok 1597.86 1584.93 +0.82 Jakarta 5034.07 4999.75 +0.69 Manila 7070.99 7028.35 +0.61 Ho Chi Minh - 474.51 - Change on year Market Current End prev yr Pct Move TR SE Asia Index* 450.65 424.10 +6.26 Singapore 3368.18 3167.08 +6.35 Kuala Lumpur 1717.65 1688.95 +1.70 Bangkok 1597.86 1391.93 +14.79 Jakarta 5034.07 4316.69 +16.62 Manila 7070.99 5812.73 +21.65 Ho Chi Minh 474.51 413.73 +14.69 * The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
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