SE Asia Stocks-Rise on Wall Street cues; Vietnam outperforms

By Sindhu Chandrasekaran

March 23 (Reuters) - Southeast Asian stock markets rose in

line with Asian peers on Thursday, reversing the previous

session's losses on cues from Wall Street which ended mixed

overnight with an upside bias.

The Nasdaq gained 0.5 percent and the S&P 500

closed 0.2 percent higher, while the Dow Jones Industrial

Average was flat, after all three touched their lowest in

about five weeks earlier in the session.

"Since there is not much actionable news coming from Asia, I

think the markets are just taking cues from U.S. equities which

rebounded last night after a four-day losing streak," said

Victor Felix, an equity analyst with AB Capital Securities.

Meanwhile, the market focus remained on whether U.S.

President Donald Trump can gather enough support at a vote later

in the day to pass a bill to repeal the 2010 Affordable Care

Act, former President Barack Obama's signature healthcare

legislation.

In Asia, MSCI's broadest index of Asia-Pacific shares

outside Japan rose as much as 0.4 percent.

Vietnam shares rose 0.6 percent, outperforming other

markets in the region, helped by gains in consumer staples and

financials.

Hoang Anh Gia Lai Agricultural Joint Stock Co

climbed 6.4 percent, while Sai Gon Thuong Tin Commercial Joint

Stock Bank (Sacombank) rose 2.3 percent.

Philippine shares climbed 0.4 percent with industrial

stocks accounting for more than half the gains.

The Philippine central bank is unlikely to pull the

rate-hike trigger at its policy meeting due later in the day,

but may signal its readiness to act soon to keep accelerating

inflation in check.

"I think they won't be (increasing the rates)… It is going

to be a non-event and looks like the market has priced this in

already."

Indonesia rose 0.5 percent, led by financials, while

Malaysia and Thailand climbed 0.2 percent each.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0427 GMT

Market Current Previous Pct Move

Close

Singapore 3119.27 3118.19 0.03

Bangkok 1570.04 1566.66 0.22

Manila 7285.14 7254.93 0.42

Jakarta 5562.977 5534.093 0.52

Kuala Lumpur 1751.15 1748.3 0.16

Ho Chi Minh 717.01 712.94 0.57

Change on year

Market Current End 2016 Pct Move

Singapore 3119.27 2880.76 8.28

Bangkok 1570.04 1542.94 1.76

Manila 7285.14 6840.64 6.5

Jakarta 5562.977 5296.711 5.03

Kuala Lumpur 1751.15 1641.73 6.66

Ho Chi Minh 717.01 664.87 7.8

(Reporting by Sindhu Chandrasekaran; Editing by Subhranshu

Sahu)