Reuters: Hot Stocks: SE Asia Stocks-Mostly up on U.S. jobs, China economy data; Thailand at 2-wk high

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SE Asia Stocks-Mostly up on U.S. jobs, China economy data; Thailand at 2-wk high Sep 9th 2013, 07:00 Tweet Share this Email Print Mon Sep 9, 2013 3:00am EDT Sept 9 (Reuters) - Most Southeast Asian stock markets traded firmer on Monday, with Thailand and Indonesia gaining strongly on positive investor sentiment helped by China's upbeat export data and hopes that the U.S. central bank would delay or be less aggressive in tapering its monthly bond purchases. Jakarta's Composite Index, which lost 2.9 percent last week, gained 1.9 percent as of 0616 GMT to a near one-week high. This could be a temporary market rebound on strength in the regional market and weak job numbers in the United States, said John Teja, director of Jakarta-based Ciptadana Securities. "I believe this could delay the taper as the dollar is tumbling a bit." Analysts also say positive sentiment about the rupiah currency after data showed gains in foreign exchange reserves was helping stocks. Disappointing U.S. job data has sparked views that the Fed would still cut its stimulus soon, but by less than what was anticipated. China's exports grew 7.2 percent in August, above market expectations of a 6 percent rise from a year earlier, showing signs of stabilisation in the world's second-largest economy. The Thai stock index was up 2.5 percent, its highest level since Aug. 23, led by gains in financial shares. The short-term outlook for the Thai market was positive and foreign investors were expected to be on the buying side, said Teerada Charnyingyong, a senior strategist at Bangkok-based broker Phillip Securities. Foreign investors are still keeping a close watch on Thai shares, she said. Singapore's Straits Times index was up 1.1 percent at 0616 GMT, a two-week high, led by banks. DBS Group shares gained 2.2 percent, United Overseas Bank was up 1.7 percent, while Oversea-Chinese Banking Corp rose 0.7 percent. Stock indices in Malaysia and the Philippines gained 0.9 percent and 0.3 percent respectively. Vietnam's main stock index bucked the trend, and was down 1.4 percent by midday on Monday due to selling in blue-chip firms. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0616 GMT Market Current Prev Close Pct Move TR SE Asia Index* 386.33 380.12 +1.63 Singapore 3082.89 3048.35 +1.13 Kuala Lumpur 1738.92 1723.80 +0.88 Bangkok 1369.63 1336.25 +2.50 Jakarta 4150.33 4072.35 +1.91 Manila 5992.83 5974.62 +0.30 Ho Chi Minh 473.09 480.03 -1.45 (Reporting by Shihar Aneez in Colombo and Andjarsari Paramaditha in Jakarta; Editing by Prateek Chatterjee) Tweet this Link this Share this Digg this Email Reprints Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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