April 7 The Indonesian stock market rose on
Monday to its highest in 10 months ahead of elections in the
country later in the week, but other Southeast Asian shares were
rangebound despite a U.S. jobs report last week that helped
The Jakarta Composite Index was up 1.4 percent by
0658 GMT, trading at its highest since June 7, 2013, led by
financials and market heavyweights.
Millions of Indonesians head to the polls to elect a new
parliament on April 9 and a president three months later in a
race that could bring major changes to the way the world's
third-largest democracy is run, with the opposition PDI-P
consistently topping opinion polls.
The market has risen more than 15 percent so far this year
as investors hope opposition candidate Joko Widodo, the
favourite to win July's presidential poll, will restart stalled
reforms, making the world's fourth most-populous nation a strong
contender for more investment.
Shares in Astra International gained 2.6 percent,
while Telkom Indonesia was up 2 percent, boosting the
Friday's U.S. jobs report was firm enough to soothe concerns
about U.S. recovery, but still not so strong as to hasten the
end of policy stimulus.
Philippines shares gained 0.7 percent, hovering near
an over five-month high, while Vietnam gained 1.5 percent
to a level seen on March 26. Malaysian shares traded 0.1
But Singapore stocks were 0.5 percent down, falling
for a second straight session due to an overdue correction amid
a lack of fresh positive factors.
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SOUTHEAST ASIAN STOCK MARKETS
Change at 0656 GMT
Market Current Prev Close Pct Move
TR SE Asia Index* 415.88 413.92 +0.47
Singapore 3196.58 3212.72 -0.50
Kuala Lumpur 1857.80 1856.61 +0.06
Jakarta 4925.30 4857.94 +1.39
Manila 6605.97 6561.20 +0.68
Ho Chi Minh 601.62 593.04 +1.45
(Reporting by Shihar Aneez; Editing by Anupama Dwivedi)