JavaScript is off. Please enable to view full site.

Most Southeast Asian stock markets rise; Vietnam gains over 2 pct

Most Southeast Asian stock markets rise; Vietnam gains over 2 pct

Saturday, June 02, 2018, 12:54 GMT+7

(Reuters) - Most Southeast Asian markets rose in thin trading on Friday, with Vietnam gaining 2.2 percent and the Philippines climbing 1.8 percent, as investors hunted for bargains following last month's fall.

In Vietnam, industrials were among the top gainers as factories saw record growth in new export orders last month.

Vietjet Aviation climbed nearly 7 percent, while Vietcombank rose 5.4 percent.

For the week, Vietnam shares gained 3 percent, snapping two straight weekly falls.

In the Philippines, real estate and consumer stocks led the gains, with SM Investments Corp up 4.4 percent and Ayala Land rising 1.9 percent.

"It's really more of a technical rebound today, as the index broke 7,500 a couple of days ago because of concerns on Italy and local inflation," said Jose Vistan, research head at AB Capital Securities.

Investors also took heart from China A-shares' long-awaited inclusion in MSCI's benchmark market indexes, a step that is expected to boost foreign inflows in the coming months.

For the week, Philippine shares declined 0.2 percent in their third straight weekly drop. Malaysian shares rose nearly 1 percent, extending gains into a second session, buoyed by financials.

Malayan Banking rose about 4 percent. Thai shares declined with oil and gas producer PTT shedding 1.4 percent.

The index fell 1.2 percent this week, in its fourth straight weekly drop. Thailand's annual headline inflation in May rose to its highest in 16 months, but well within the central bank's target range of 1-4 percent.

Singapore shares were little changed, but posted their third straight weekly decline. Indonesian financial markets were closed for a local holiday.

Reuters

Read more

;

Photos

VIDEOS

Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Latest news