Money
Most SE Asia stocks up but Philippines and Vietnam outperform
Malay Mail

SINGAPORE, May 5 — Southeast Asian stock markets mostly ended firmer today, bucking the regional trend on slowing growth in China, while Philippine and Vietnam shares outperformed the region, led by financials.

The Philippine key index rose as much as 1.3 per cent to its highest since April 28, helped by a 2 per cent gain in SM Prime Holdings and 1.9 per cent rise in BDO Unibank.

Vietnam’s benchmark VN Index gained 1.4 per cent, rebounding from the lowest level in nearly a month in the previous session, with banking and insurance stocks lending support.

Malaysia saw foreign inflow of US$12.73 million (RM45.77 million), Indonesia witnessed US$34.87 million, and Philippines US$8.92 million.

The Jakarta Composite index added 0.4 per cent, though the country’s economic growth in the first quarter slumped to its weakest annual pace since 2009, hit by soft global demand and falling commodities prices.

The Singapore index dropped 0.3 per cent, at a near one-month low.

Asian stock markets mostly fell after a survey released yesterday showed China’s factories suffered their fastest drop in activity in a year in April.

Surveys for Taiwan and Japan showed an index of factory activity slid below the 50-point level that separates growth from contraction compared with the previous month.

The Thai stock market was closed today for a public holiday. — Reuters

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