SE Asia Stocks Most up on Chinese stimulus; Indonesia recovers

by **Cals** Tue 21 Apr 2015, 20:55

SE Asia Stocks
Most up on Chinese stimulus; Indonesia recovers

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By Reuters / Reuters | April 21, 2015 : 7:51 PM MYT
COLOMBO/BANGKOK/JAKARTA (April 21): Most Southeast Asian stock markets gained on Tuesday as China's stimulus to prop up its faltering economy boosted risky assets, with Indonesian shares recovering smartly from the previous session's three-week closing low.

China's stimulus through reducing the reserve requirement ratio for banks and state-owned enterprises on Sunday lifted the region's equity markets, tracking gains in Asia.

Analysts said the stimulus helped boost sentiment on hopes it would help spur the world's second largest economy.

The Jakarta Composite Index ended up 1.1 percent from its lowest close since March 27 hit on Monday, Malaysia closed up 0.8 percent at a more than seven-month high, and Thailand ended 0.6 percent higher.

Thailand recorded a net foreign inflow of $72.6 million, while Malaysia saw net offshore buying of $51.6 million.

Kasikornbank Pcl, which said on Tuesday it will cut its loan growth target for 2015 due to a weaker-than-expected economic outlook, underperformed the market
and closed 0.4 percent weaker.

After market hours, Thailand's fourth-largest lender by assets posted a net profit of 7.86 billion baht ($242.82 million) in the March quarter, falling well short of a 8.36 billion baht forecast.

Indonesian energy firm [size=14]PT Dian Swastatika Sentosa Tbk, which said it had completed a reverse takeover of Singapore's United Fiber System Ltd (UFS) ([You must be registered and logged in to see this image.] Financial Dashboard), closed
flat. UFS shares closed 7.7 percent weaker.

Dian Swastatika said it had acquired 1.98 billion shares issued by UFS for S$0.95 per share on Monday.

Singapore edged up 0.2 percent from a one-week closing low. Bucking the trend, Philippine stocks eased 0.2 percent and Vietnam's benchmark VN Index closed 0.5
percent down.

($1 = 3.6355 ringgit)
($1 = 12,955.0000 rupiah)
($1 = 44.1950 Philippine pesos)
($1 = 32.3700 baht)

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