SE Asia Stocks-Thailand rises in holiday-thinned trading; Vietnam hits 9-yr high

By Nicole Pinto
June 26 (Reuters) – Stock markets in Thailand and Vietnam
edged up on Monday, in line with broader Asia, but trading was
thin as all the other markets in Southeast Asia were closed for
the religious holiday of Eid al Fitr.
MSCI’s broadest index of Asia-Pacific shares outside Japan
ticked up 0.4 percent.
Oil prices rose more than 1 percent on a weaker dollar, but
another rise in U.S. drilling activity stoked worries that a
global supply glut will persist despite an OPEC-led effort to
curb output.
Vietnam rose 0.4 percent to hit a fresh nine-year
high, led by gains in financials, real estate and energy stocks.
Vingroup JSC climbed 1.3 percent, while Vietnam
National Petroleum Group gained 1 percent.
“We observe that the money flow in the stock market is quite
strong at the moment,” said Tran Minh Hoang, chief economist of
Vietcombank Securities.
Thai shares climbed 0.4 percent to touch a more than
two-month high, with Bangkok Dusit Medical Services
and U City rising 1.6 percent and 33.3 percent,
respectively.
Financial markets in Singapore, Malaysia,
Indonesia and the Philippines were closed on
Monday for the Islamic holiday of Eid al Fitr, marking the end
of the holy month of Ramadan.

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SOUTHEAST ASIAN STOCK MARKETS: Change at 0431 GMT
Change on the
day
Market Current Previous Pct Move
Close
Bangkok 1588.29 1582.36 0.37
Ho Chi Minh 771.78 769.01 0.36

Change so far
this year
Market Current End 2016 Pct Move
Bangkok 1588.29 1542.94 2.94
Ho Chi Minh 771.78 664.87 16.1

(Reporting by Nicole Pinto; Editing by Amrutha Gayathri)


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