SINGAPORE, April 30 — South-east Asian stock markets rose today as easing tensions in the Korean peninsula boosted investor sentiment, while Singapore stocks surged to a 10-year high powered by strong loan growth in the financials-dominated market.
MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.9 per cent after gaining more than 1 per cent on Friday.
“Witnessing a moving visual representation of diminished Korean Peninsula tensions may not be without benefits for risk sentiments; at least in terms of dialling down perceptions of global geo-political risks,” Mizuho Bank said in a note.
Singapore shares rose to their highest since November 2007 on gains in financials. DBS Group Holdings led the gains after the city-state's biggest lender reported a record profit.
Singapore's total bank lending rose 1.6 per cent in March from a month earlier as lending to financial institutions increased, central bank data showed.
United Overseas Bank Ltd and Oversea-Chinese Banking Corp climbed to an all-time high.
The Jakarta stock exchange firmed 0.6 per cent led by gains in financials and energy stocks. Coal miner Bayan Resources was the top gainer with a 20 per cent surge.
Indonesia's annual inflation rate is seen inching up in April from a month before, but still within the central bank's target range, a Reuters poll showed.
The country's index of 45 most liquid stocks was up 0.7 per cent.
Thai shares were up marginally in thin volumes as the market awaits March factory output and trade volumes data.
Thailand's March factory output likely rose at a slower pace, a Reuters poll showed.
Philippine stocks rose 0.5 per cent.
Malaysian stocks were largely flat as gains from financials were offset by losses in utilities and consumer staples.
Vietnam was closed for a holiday. — Reuters
