BANGKOK: Most Southeast Asian stock markets ended firmer on Monday, led by Indonesian shares ahead of a parliamentary election later this week that is expected to restart stalled reforms, while a U.S. jobs report last week helped boost investor sentiment.
The Jakarta Composite Index ended up 1.3 percent at
its highest since June 5, 2013, led by infrastructure shares.
The gain was led by a 2.6 percent gain in Astra
International and 3.9 percent rise in Perusahaan Gas
Negara Persero.
Millions of Indonesians will vote to elect a new parliament
on April 9 and a president three months later in a race that
could bring major changes to the way the world's third-largest
democracy is run, with the opposition PDI-P consistently topping
opinion polls.
The market has risen more than 15 percent so far this year
as investors hope opposition candidate Joko Widodo, the
favourite to win July's presidential poll, will restart stalled
reforms, making the world's fourth most-populous nation a strong
contender for more investment.
Friday's U.S. jobs report was firm enough to soothe concerns
about U.S. recovery, but still not so strong as to hasten the
end of policy stimulus.
The region's markets saw net foreign buying on Monday.
Indonesia enjoyed a $139 million foreign inflow, Malaysia
witnessed a $59.6 million inflow and the Philippines saw a $12.5
million net foreign buying.
Philippines shares gained 0.8 percent to its highest
close since Oct. 23, Vietnam gained 1.3 percent to a
two-week closing high on solid corporate earnings and plans for
dividend payments by the market's two largest firms.
Malaysian shares ended 0.3 percent firmer. But
Singapore stocks were 0.6 percent down, falling for a
second straight session due to an overdue correction amid a lack
of fresh positive factors.
Thai market was closed on Monday for a holiday.
SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
TR SE Asia Index* 415.72 413.92 +0.43
Singapore 3193.59 3212.72 -0.60
Kuala Lumpur 1862.90 1856.61 +0.34
Jakarta 4921.04 4857.94 +1.30
Manila 6614.40 6561.20 +0.81
Ho Chi Minh 600.57 593.04 +1.27
Change on year
Market Current End 2013 Pct Move
TR SE Asia Index* 415.72 388.37 +7.04
Singapore 3193.59 3167.43 +0.83
Kuala Lumpur 1862.90 1866.96 -0.22
Bangkok 1392.01 1298.71 +7.18
Jakarta 4921.04 4274.18 +15.13
Manila 6614.40 5889.83 +12.30
Ho Chi Minh 600.57 504.63 +19.01
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
($1 = 11316.5000 Indonesian Rupiahs)
($1 = 3.2795 Malaysian Ringgits)
($1 = 44.9550 Philippine Pesos)- Reuters
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