SE Asia Stocks-Indonesia hits record high, Singapore near 20-month peak

By Sindhu Chandrasekaran

March 29 (Reuters) - Indonesian stocks hit a record high on

Wednesday while Singapore shares climbed to their highest in

nearly 20 months as data showing strong U.S. consumer confidence

boosted sentiment in export-reliant Asian economies.

U.S. consumer confidence surged to a more than 16-year high

in March, government data showed on Tuesday, while the goods

trade deficit narrowed sharply in February, indicating the

economy was regaining momentum after faltering at the start of

the year.

The regional markets were responding positively to the

strong U.S. consumer sentiment, said April Lee-Tan, head of

research at COL Financial Group, adding that they would benefit

from upbeat U.S. consumers by boosting exports.

Indonesian shares closed about 1 percent higher,

coming off Monday's losses, on the back of gains in financial

and material stocks. PT Bank Danamon Indonesia Tbk

ended 4.2 percent higher, while PT Semen Baturaja (Persero) Tbk

surged 10.1 percent. The market was closed on Tuesday

for a holiday.

Singapore shares rose for a second straight session

and closed at their highest since August 2015. Financials

accounted for nearly half the gains with DBS Group Holdings

climbing 1.4 percent.

Oil prices extended gains despite industry data showing an

increase in U.S. crude inventories, lifted by supply disruptions

in Libya and views that an OPEC-led output reduction is likely

to be extended.

Vietnam shares closed marginally higher, posting

their fourth session of gains in five. Vietnam's economy grew at

its slowest pace in three years in the first quarter, government

data showed, as production was weak in agriculture, mining and

manufacturing.

Thai stocks ended largely flat. Thailand's central

bank raised its forecasts for 2017 economic growth and exports

while leaving the key interest rate where it has been for nearly

two years.

Malaysian shares shed 0.2 percent with consumer

staples weighing on the index.

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SOUTHEAST ASIAN STOCK MARKETS

Change on the day

Market Current previous Pct Move

close

Singapore 3184.57 3157.82 0.85

Bangkok 1574.97 1576.72 -0.11

Manila 7324 7331.46 -0.10

Jakarta 5592.51 5541.202 0.93

Kuala Lumpur 1750.41 1754.42 -0.23

Ho Chi Minh 720.47 719.26 0.17

Change on year

Market Current End 2016 Pct Move

Singapore 3184.57 2880.76 10.55

Bangkok 1574.97 1542.94 2.08

Manila 7324 6840.64 7.1

Jakarta 5592.51 5296.711 5.58

Kuala Lumpur 1750.41 1641.73 6.62

Ho Chi Minh 720.47 664.87 8.4

(Reporting by Sindhu Chandrasekaran; Editing by Subhranshu

Sahu)