April 27, 2018 / 4:43 AM / a month ago

SE Asia Stocks-Rise on hopes of positive Koreas summit outcome

    * Indonesia set for biggest weekly fall in nearly 5 years 
    * Malaysia posts biggest intraday pct gain in over a week

    By Sumeet Gaikwad
    April 27 (Reuters) - Southeast Asian stock markets rose on Friday after U.S.
treasury yields retreated from recent highs, while a summit between North Korea
and South Korea eased tensions in the Korean peninsula and boosted sentiment.
    The summit between North Korean leader Kim Jong Un and South Korean
President Moon Jae-in is a first in over a decade, and comes weeks before Kim
Jong Un is due to meet U.S. President Donald Trump.
    "The markets are continuing to buy into this drop in the geopolitical risk
in the region, which in my view from an equity perspective, is massively
amazing," said Stephen Innes, head of trading for Asia Pacific, Oanda.
    Philippine stocks extended gains for a second session, underpinned by
industrial and financial stocks. SM Investments Corp climbed as much as
1.4 percent, while BDO Unibank Inc rose up to 2.4 percent. The index is
poised for a weekly fall. 
    The market movement is a reversal of the risk of higher U.S. treasury yields
along with a drop in geopolitical tension in the Korean peninsula, Innes added.
    The Jakarta exchange snapped five straight sessions of declines to
edge higher, however, is on track to post its biggest weekly loss in nearly five
years.      
    Indonesian shares were hurt by higher U.S. treasury yields and a stronger
dollar, which prompted foreign investors to trim holdings in emerging market
equities.
    The central bank governor on Thursday said he would be prepared to adjust
the benchmark interest rate if weakness in the rupiah currency threatened
Indonesia's inflation target or the stability of the financial system.

    The country's index of 45 most liquid stocks rose 0.2 percent.
    Singaporean shares were flat as losses in financials outpaced gains
from telecom stocks. The index is set to close the week largely flat.
    Thai shares gained 0.2 percent, while Vietnam rose nearly 1
percent.
    Malaysian shares gained 0.4 percent, spurred by financials and
materials, but the index looks set to close the week lower. 
       
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: AS AT 0424 GMT
        
 Change on day                            
 Market          Current  Previous Close  Pct Move
 Singapore       3570.14  3570.02         0.01
 Bangkok         1776.69  1773.2          0.20
 Manila          7679.99  7617.42         0.82
 Jakarta         5909.82  5909.198        0.01
 Kuala Lumpur    1859.89  1852.27         0.41
 Ho Chi Minh     1054.94  1044.86         0.96
                                          
 Change on year                           
 Market          Current  End 2017        Pct Move
 Singapore       3570.14  3402.92         4.91
 Bangkok         1776.69  1753.71         1.31
 Manila          7679.99  8558.42         -10.26
 Jakarta         5909.82  6355.654        -7.01
 Kuala Lumpur    1859.89  1796.81         3.51
 Ho Chi Minh     1054.94  984.24          7.18
 
 (Reporting by Sumeet Gaikwad in Bengaluru, Additional reporting by Nikhil
Nainan, Editing by Sherry Jacob-Phillips)
  
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below