SE Asia Stocks-Mostly up; Malaysia at record high after election
May 6 (Reuters) - Malaysian stocks surged to a record high on Monday after the ruling Barisan National (BN) coalition won the parliamentary election held on Sunday, while other Southeast Asian markets mostly gained on an improved appetite for risky assets following a positive U.S. labour market report. The benchmark FTSE Bursa Malaysia KLCI Index jumped 7.8 percent at one point to a lifetime high of 1,826.22, with stocks linked to the coalition and its favoured tycoons gaining. It later pared gains to close 3.4 percent firmer at 1752.02. Southeast Asia's third largest economy saw a $471.59 million foreign inflow into the stock market on Monday. The Kuala Lumpur stock market is dominated by government-linked firms in which the state has controlling stakes. Other companies are seen as heavily reliant on warm relations with the long-ruling Barisan Nasional coalition. Malaysia's second-largest lender by assets, CIMB Group Holdings Bhd, rose 9.7 percent. Its chief executive, Nazir Razak, is the brother of Prime Minister Najib Razak. Indonesia ended 1.4 percent up from a near three-week-low hit in the previous session, while Singapore gained 0.4 percent. Vietnam jumped 2.8 percent after several banks lowered their interest rates and data showed a quickening of lending, analysts said. The Philippines, the region's best performer, hit a new intra-day record high of 7284.34 points, before closing 0.6 percent lower at 7170.65. The Thailand market 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* 452.66 447.20 +1.22 Singapore 3382.29 3369.90 +0.37 Kuala Lumpur 1752.02 1694.77 +3.38 Bangkok - 1578.95 - Jakarta 4991.87 4925.48 +1.35 Manila 7170.65 7215.35 -0.62 Ho Chi Minh 488.32 475.24 +2.75 Change on year Market Current End prev yr Pct Move TR SE Asia Index* 452.63 424.10 +6.73 Singapore 3382.29 3167.08 +6.80 Kuala Lumpur 1752.02 1688.95 +3.73 Bangkok 1578.95 1391.93 +13.44 Jakarta 4991.87 4316.69 +15.64 Manila 7170.65 5812.73 +23.36 Ho Chi Minh 488.32 413.73 +18.03 * 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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