Most rebound; banks lead Thai index gains

by **Cals** Tue 08 Sep 2015, 21:12

Most rebound; banks lead Thai index gains

By Reuters / Reuters | September 8, 2015 : 7:50 PM MYT

BANGKOK (Sept 8): Most Southeast Asian stock markets rebounded on Tuesday as Germany's upbeat trade data lifted global market sentiment; while banking shares outperformed in Thailand, after the cabinet approved a new round of measures to help small businesses.

The Thai SET index gained 0.6%, with late buying sending shares of Krung Thai Bank more than 2% higher; while large-cap banks such as [size=16]Bangkok Bank and Kasikornbank fell, as they traded ex-dividend.

State-run Krung Thai Bank is expected to directly benefit from bailout measures approved by the cabinet for small and medium-sized businesses, according to broker Maybank Kim Eng Securities.

The military government on Tuesday approved a new round of economic measures worth 206 billion baht (US$5.7 billion) to help small businesses, as the ruling junta seeks to revive flagging economic growth.

Most markets recouped early losses and ended recent losing streaks.

The regional upswing was led by a 1.2% gain in Singapore's key Straits Times Index, while Vietnam's key index jumped 2.2% to a near two-week closing high.

Shares rose in Europe and Asia on Tuesday, after trade data from China and Germany highlighted the divergent outlooks of the two heavyweight economies.

German exports and imports hit record highs in value terms in July, suggesting foreign appetite for goods from Europe's largest economy remains robust, despite a slowdown in China, while domestic demand is also holding up well.

SOUTHEAST ASIAN STOCK MARKETS

Change on day

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Market	Current	Prev Close	Pct Move
Singapore	2885.32	2852.41	+1.15
Kuala Lumpur	1587.12	1582.85	+0.27
Bangkok	1379.32	1371.40	+0.58
Jakarta	4318.59	4301.37	+0.40
Manila	6891.30	6926.82	-0.51
Ho Chi Minh	566.72	554.93	+2.12

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Change on year

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Market	Current	End 2014	Pct Move
Singapore	2885.32	3365.15	-14.26
Kuala Lumpur	1587.12	1761.25	-9.89
Bangkok	1379.32	1497.67	-7.90
Jakarta	4318.59	5226.95	-17.38
Manila	6891.30	7230.57	-4.69
Ho Chi Minh	566.72	545.63	+3.87