SE Asia Stocks-Most track Wall Street higher; Indonesia up nearly 1 pct
* Vietnam up nearly 1 pct
* Philippine May inflation rises
* Malaysia April exports up
June 5 (Reuters) - Most Southeast Asian stock markets rose
on Tuesday tracking overnight gains on Wall Street, with
Indonesia gaining nearly one percent buoyed by
telecommunication and energy stocks.
Wall Street's three major indexes rose overnight, led by a
rally in tech stocks, that pushed the Nasdaq to a record closing
high.
An index of Indonesia's 45 most liquid stocks rose
about 0.8 percent. Telekom Indonesia and Indah Kiat
Pulp & Paper, up as much 4.4 and 11.4 percent
respectively, were the top gainers on the country's benchmark
index.
Vietnam shares climbed over 1 percent helped by gains
in utilities and the country's benchmark was on track for a
fourth straight session of gains.
Philippines shares were trading marginally higher,
after falling as much as 0.4 percent to 7550.064, a support.
"The market has strong support at 7550. Hopefully, the
market bottoms out and rallies to 7770," said Manny Cruz,
analyst at Asiasec Equities Inc.
"Based on technical patterns, the market may consolidate
within a tight range. But, foreign selling continues."
Philippine annual inflation quickened in May but at a
slower-than-expected pace, the country's statistics agency said.
Singapore climbed 0.4 percent as financials extended
gains from the previous session.
DBS Group Holdings and OCBC rose more
than 1 percent each to over one-week highs.
Asia ex-Japan shares were trading largely
flat after surging 1.4 percent in the previous day.
Meanwhile, Malaysian shares fell 0.4 percent with
industrials and telecommunication shares weighing heavily on the
index.
The country's April exports rose 14 percent from a year
earlier, buoyed by strong demand for manufactured goods,
government data showed on Tuesday.
Energy shipping company MISC Bhd, down as much as
5 percent, was the biggest drag.
Thai shares slipped 0.3 percent on broad selling.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0428 GMT
Change on the day
Market Current Previous Pct Move
close
Singapore 3480.85 3467.48 0.39
Bangkok 1717.98 1721.29 -0.19
Manila 7590.92 7579.61 0.15
Jakarta 6067.374 6014.819 0.87
Kuala Lumpur 1749.67 1755.17 -0.31
Ho Chi Minh 1024.88 1013.78 1.09
Change on year
Market Current End 2017 Pct Move
Singapore 3480.85 3402.92 2.29
Bangkok 1717.98 1753.71 -2.04
Manila 7590.92 8558.42 -11.30
Jakarta 6067.374 6355.654 -4.54
Kuala Lumpur 1749.67 1796.81 -2.62
Ho Chi Minh 1024.88 984.24 4.13
(Reporting by Mensholong Lepcha; Editing by Vyas Mohan)