February 5, 2016 / 7:25 AM / 4 years ago

SE Asia Stocks-Higher; Indonesia hits near 6-mth high on Q4 GDP data

BANGKOK, Feb 5 (Reuters) - Southeast Asian stock markets
rose on Friday, with Indonesia rallying to a near six-month high
after fourth-quarter economic growth beat forecasts and key
regional indexes notching up strong gains ahead of holidays.
    All share markets in Southeast Asia, except Thailand, will
be closed on Monday for the Lunar New Year holiday. Singapore
and Malaysia will remain closed through Tuesday and Vietnam for
the rest of the week.  
    Indonesia outperformed as foreigners bought large caps,
taking the Jakarta composite index 2.6 percent higher to
4,785.62 a level last hit on Aug. 7. Bank Rakyat Indonesia
, the most actively traded, jumped 4.8 percent.
    Data showed Indonesia's economy grew 5.04 percent from a
year earlier in the final quarter of 2015 as government spending
countered weak exports and consumption, beating a Reuters poll
median forecast for year-on-year growth of 4.8
    Indonesia is poised for a weekly rise of 3.6 percent, the
biggest in the region.
    Singapore, Malaysia and the Philippines
 rose for a second day, while Thailand and Vietnam
 saw shares rising into a third day in the face of a
weaker U.S. currency and subdued expectations for a Fed rate
hike this year.
    "Investment sentiment in worldwide markets is still
neutral-positive. The liquidity surplus will continue and the
U.S. dollar should be more stable," said broker Maybank Kim Eng
Securities in Bangkok.
    Asian stocks were subdued on Friday and the dollar wobbled
ahead of the closely watched U.S. jobs report, which could
provide clues on the Federal Reserve's monetary policy outlook.
For Asian Companies click;  

  Change at 0721 GMT                                       
  Market              Current    previous close   Pct Move
  Singapore           2608.88    2558.49          1.97
  Bangkok             1306.48    1297.11          0.72
  Manila              6765.13    6652.83          1.69
  Jakarta             4785.624   4665.817         2.57
  Kuala Lumpur        1663.11    1656.77          0.38
  Ho Chi Minh         544.24     542.15           0.39
 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)
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