May 6, 2013 / 10:46 AM / 5 years ago

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.
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 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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