September 9, 2019 / 3:58 AM / 9 days ago

SE Asia Stocks-Most inch higher as bleak data spurs stimulus hopes

    * Philippines up for 4th straight day
    * Indonesia leads gains in the region 
    * Malaysia markets closed for holiday 

    By Shreya Mariam Job
    Sept 9 (Reuters) - Most Southeast Asian stock markets inched
higher on Monday as weak data from the United States and China
spurred hopes of further stimulus measures to prop up slowing
economic growth.
    Data released on Friday showed U.S. jobs growth slowed more
than expected in August, while China's exports fell unexpectedly
 last month, hurt by a drop in shipments to the United States.

    Risk sentiment was also buoyed as central banks of both
countries indicated their intention to work toward sustaining
growth. 
    U.S. Federal Reserve Chair Jerome Powell said the central
bank would continue to act "as appropriate" to sustain the
economic expansion in the world's biggest economy, while the
People's Bank of China said it was cutting the amount of cash
that banks must hold as reserves for the third time this year.

    "The latest move (reserve ratio cut) reflects the (Chinese)
government's determination to use a combination of policy tools
to stimulate the economy as it also looks to allow local
governments to issue more bonds to fund infrastructure
investment," Mizuho Bank said in a note to clients.
    Indonesian shares gained the most in Southeast Asia,
helped by telecom and consumer stocks. 
    Telekomunikasi Indonesia (Persero) Tbk Pt and
Unilever Indonesia Tbk Pt rose 1.2% each.
    Philippine shares climbed 0.1%, extending gains into
a fourth session, on financials. 
    Ayala Corp edged up 0.4%, while BDO Unibank Inc
 gained 0.6%. 
    Singapore shares inched higher on industrial and
consumer stocks. 
    Industrial conglomerate Jardine Matheson Holdings Ltd
 gained 0.8%, while retailer Dairy Farm International
Holdings rose 0.6%.     
    Malaysian financial markets were closed for a
holiday. 
    
For Asian Companies click;  
SOUTHEAST ASIAN STOCK MARKETS As at 0358 GMT
    
 Change on the day                               
 Market                 Current  Previous close  Pct Move
 Singapore              3147.97  3144.48         0.11
 Bangkok                1673.55  1670.06         0.21
 Manila                 7944.17  7933.47         0.13
 Jakarta                6327.32  6308.95         0.29
 Ho Chi Minh            973.98   974.08          -0.01
                                                 
 Change so far in 2019                           
 Market                 Current  End 2018        Pct Move
 Singapore              3147.97  3068.76         2.58
 Bangkok                1673.55  1563.88         7.01
 Manila                 7944.17  7,466.02        6.40
 Jakarta                6327.32  6,194.50        2.14
 Ho Chi Minh            973.98   892.54          9.12
 
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by
Subhranshu Sahu)
  
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