SE Asia Stocks-Most gain as China data cheers; Indonesia at record closing high

By Chandini Monnappa
July 3 (Reuters) – Most Southeast Asian stock markets closed
higher on Monday tracking strong broader peers as investors took
a surprise recovery in Chinese factory activity as evidence of
steadying growth in the world’s second largest economy.
A private survey showed that China’s manufacturing engine
cranked back into growth mode in June, expanding at the fastest
pace in three months after unexpectedly contracting in
“China’s manufacturing PMI rebound is a silver lining and
overall inflation is likely to be contained despite bottoming,”
Mizuho Bank analysts said in a note.
Reopening after a long holiday, the Jakarta Composite Index
closed at a record high with telecommunication and
financial stocks leading gains.
Telekomunikasi Indonesia (Persero) TBK PT rose 6
percent to end at a record high.
Indonesia’s annual inflation rate accelerated slightly in
June as demand increased in the days leading to the Eid al-Fitr
celebrations at the end of the month, the statistics bureau
Thai shares closed 0.3 percent up as all sectors
Thailand’s annual headline consumer prices fell for a second
straight month in June, mainly due to lower food prices,
government data showed.
Meanwhile, a Reuters poll showed that Thailand’s central
bank will keep its low benchmark interest rate as economic
recovery is slow and household debt levels are high.
Philippine stocks closed 0.3 percent higher, led by
real estate and financials. Property developer Ayala Land
closed 1.6 percent up while Bank of the Philippine
Islands ended the day 0.6 percent higher.
Malaysian shares gained 0.3 percent as consumer and
materials stocks rose.
Vietnam extended gains into a fourth consecutive session
and closed the day 0.3 percent higher
Singapore ended marginally lower, hurt mainly by
financial stocks.

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Change on the
Market Current Previous Close Pct Move
Singapore 3223.46 3226.48 -0.09
Bangkok 1579.41 1574.74 0.30
Manila 7866.52 7843.16 0.30
Jakarta 5910.237 5829.708 1.38
Kuala Lumpur 1768.67 1763.67 0.28
Ho Chi Minh 778.88 776.47 0.31

Change on year
Market Current End 2016 Pct Move
Singapore 3223.46 2880.76 11.90
Bangkok 1579.41 1542.94 2.36
Manila 7866.52 6840.64 15.00
Jakarta 5910.237 5296.711 11.58
Kuala Lumpur 1768.67 1641.73 7.73
Ho Chi Minh 778.88 664.87 17.15

(Reporting by Chandini Monnappa; Editing by Vyas Mohan)

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