By Rushil Dutta
Oct 19 Most Southeast Asian stock markets
extended gains into a second session on Wednesday, in line with
broader Asia, on Chinese economic data that confirmed the
economy had stabilised, even though worries about debt
Sentiment was also buoyed by Wall Street advancing on solid
China's economy grew 6.7 percent in the third quarter from a
year earlier, steady from the previous quarter and in line with
market expectations, as increased government spending and a
property boom offset stubbornly weak exports.
The growth figures were in line with economists' forecast in
a Reuters poll.
Investment in Chinese real estate picked pace in September
after edging higher in the previous month, highlighting the
persistence of investor demand.
"China data is a bit of a mixed bag. Though the headlines
said met expectations, there are some soft spots in the gain in
industrial production," said Vishnu Varathan, a senior economist
with Singapore-based Mizuho Corporate Bank.
"To the extent that investments in China are holding up,
it's giving some of the China-focused markets a bit of a lift."
Philippine shares rose 1.5 percent, with gains across
all sectors led by financials and consumer stocks.
BDO Unibank Inc rose 3.2 percent to its highest in
a month, while property developer SM Prime Holdings
added 2 percent.
Philippine stocks began rallying on Tuesday on hopes that
President Rodrigo Duterte's foreign visits would create an
inflow of business. Duterte is in China this week.
Vietnam's main index extended gains and added 0.9
percent as financials and consumer stocks powered through.
Joint Stock Commercial Bank for Foreign Trade of Viet Nam
, the biggest financial company by market
capitalisation, was 1.8 percent higher.
Energy shares, 0.7 percent higher, benefited from higher oil
Thai shares were up 0.3 percent, while Singapore
and Malaysia remained steady. Indonesia
was the only market that fell with a 0.2 percent loss.
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SOUTHEAST ASIAN STOCK MARKETS:
Change at 0412
Market Current Previous Pct Move
Singapore 2832.77 2830.63 0.08
Bangkok 1480.59 1477.54 0.21
Manila 7687.3 7571.15 1.53
Jakarta 5419.693 5430.048 -0.19
Kuala Lumpur 1668.12 1667.57 0.03
Ho Chi Minh 688.43 682.02 0.94
Change on year
Market Current End 2015 Pct Move
Singapore 2832.77 2882.73 -1.73
Bangkok 1480.59 1288.02 14.95
Manila 7687.3 6952.08 10.58
Jakarta 5419.693 4593.008 18.00
Kuala Lumpur 1668.12 1692.51 -1.44
Ho Chi Minh 688.43 579.03 18.89
(Reporting by Rushil Dutta; Additional reporting by Susan
Mathew in Bengaluru; Editing by Gopakumar Warrier)